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WILMINGTON, DE, UNITED STATES, November 27, 2024 /EINPresswire / -- Rise in health-conscious consumers, increase in awareness of the benefits of energy bars, entry of new
market players, and growth of digital marketing are the primary drivers of the market. Moreover, as more
athletes and social
media influencers continue to endorse energy bars, the global sale of energy bars is expected to rise steadily in the coming years. During the forecast period, these factors are expected to propel the growth of the energy bar market.
The global energy bar market size was valued at $696.30 million in 2022, and is estimated to reach $1.3 billion by 2032, growing at a CAGR of 6.3% from 2023 to 2032.
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An energy bar is a healthy snack bar made up of nutritional ingredients that are designed to increase energy and endurance. The main feature that sets it apart from other protein and snack bars is its high carbohydrate & sugar content, which contributes to its high energy value.
Furthermore, over the last decade, a large number of players have gradually entered the global energy bar market, resulting in the availability of energy bars with a variety of flavors, sizes, and nutritional content through various distribution channels. Another factor that has contributed to the popularity of energy bars in recent years is digital boom as brands continue to promote their products through online sales channels such as social media, newsletters, and e-mail marketing. Moreover, the global energy bar market remains competitive, market players are expected to focus on packaging, pricing strategies, and marketing strategies to gain a competitive advantage in the current Energy Bar Industry.
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Various types of energy bars available in the market include meal-replacement bar, whole food bar, oat bar, and endurance bar which has set a Energy Bar Market Trends. Numerous players have entered the global energy bar market, recognizing the growing energy bar market demand around the globe. While conventional energy bars continue to attract new customers, several brands are increasingly focusing on catering to consumers with niche preferences, such as gluten-free and plant-based products, in the current market. For instance, one of the brands such as Clif bars recently launched a new line of energy bars in various flavors such as blueberry, banana, and mango. Several brands are increasingly focusing on improving the nutritional content of their products by incorporating related ingredients.
Besides, the growing number of health awareness programs emphasizing the importance of wellness and nutritional diet has influenced the global consumption of energy bars and has created Energy Bar Market opportunities. The growing consumer awareness of physical appearance has resulted in an increase in demand for meal supplements to maintain desirable body shape & size, which will help in the expansion of energy bar market size.
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The key players in the global energy bar market industry include Brighter Foods Ltd, Cliff Bar & Company, General Mills Inc, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, and Kellogg Company. Product launch, mergers & acquisitions, joint ventures, and geographical expansions are the key strategies adopted by players in the market.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.