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Organic energy bars have gradually emerged as a meal replacement alternative in several parts of the world.
PORTLAND, OR, US, March 27, 2023 /einpresswire.com / -- As per the report published by Allied Market Research, the global organic energy bar market was pegged at $329.42 million in 2020, and is expected to reach $644.80 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030. Rise in preference for products with organic variant, high demand for energy bars among millennial population, surge in popularity of snack bars among consumers have boosted the growth of the global organic energy bar market. However, negative consumer perceptions for snack bars and challenges related to technology and processing hinder the market growth
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Over the last decade, the demand for organic energy bars, particularly in developed regions, has increased significantly, resulting in availability of a wide variety of organic energy bars. While consumers' consumption patterns for organic energy bars vary, organic energy bars are increasingly being consumed to compensate for various nutrient deficiencies caused by lack of adequate intake of nutritious food.
Regional Analysis:
The global organic energy bar market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share for 2020, however Asia Pacific region is forecasted to grow with significant growth during the forecast period owing to growing disposable income, extensive advertising and promotion, and large scale urbanization. China along with India and South East Asian countries is likely to witness increased demand of organic energy bar in the coming years.
Leading Key Companies:
The major players operating in the global organic energy bar market analysis include Clif Bar & Company, EAT Anytime, General Mills Inc., Kind LLC, McKee Foods Corporation, NuGo Nutrition, Probar LLC, Quest Nutrition, The Kellogg Company, and Yoga Bar. The other prominent players analyzed in the report are GlaxoSmithKline PLC, Abbott Laboratories, Post Holdings Inc., PepsiCo Inc., Brighter Foods Ltd., and Premier Nutrition Inc.
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Increase has been witnessed in the number of users of various social media sites and other informative and browsing websites coupled with rise in internet penetration. This increase in user base even includes children form the average age of 13 and above. With increased digitalization and internet becoming useful source to impart product knowledge, engaged players in the market can strategize on advertising and promoting their products on various social media platforms.
Key Findings Of The Study
- By type, the protein bars segment was the major share contributor in 2020, and is predicted to grow with the highest CAGR during the forecast period.
On the basis of demography, the adult segment led the market, in terms of share, however, the kids segment is expected to gain market share in the coming years.
- Hypermarket/supermarket is the most popular mode of purchase of organic energy bars, however, the online channels segment is poised to exhibit the highest CAGR during the forecast period.
- North America is the largest consumer of organic energy bars, followed by Europe. However, Asia-Pacific is likely to provide remunerative growth opportunities in the coming years.
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Organic energy bars have gradually emerged as a meal replacement alternative in several parts of the world. Furthermore, the consumption of organic energy bars among athletes, sportsmen, and women coupled with increase in number of paid partnerships with social media influencers is expected to boost the overall sales of organic energy bars globally.
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