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The protein bar market size is anticipated to rise from USD 4.68 billion in 2022 to USD 7.07 billion by 2029. The rising trend for ready-to-eat (RTE) food products will encourage leading companies to invest in protein bars. Heightened awareness of the upsides of nutrition bars, including reduced weight and lower blood pressure, will solidify the position of major players in the global market. Amidst the prevalence of a sedentary lifestyle, packed food items will be sought-after across advanced and emerging economies.
According to the latest research report by Fortune Business Insights™ titled, “Protein Bar Market Size, Share & COVID-19 Impact Analysis, By Source (Plant-Based and Animal-Based), By Type (Sports Nutritional Bars, Meal-Replacement Bars, and Others), By Distribution Channel (Mass Merchandisers, Specialty Stores, Convenience Stores, Online Channels, Others), and Regional Forecast, 2022-2029,” the market garnered USD 4.54 billion in 2021. It is estimated to grow at a 6.1% CAGR during the forecast period.
COVID-19 Pandemic Expedites Demand for Immunity-boosting Products
The COVID-19 pandemic had a notable impact on the food and beverages sector, with restaurants and hotels witnessing major disruptions. Besides, the postponement or cancellation of sports tournaments and closure of fitness centers did not augur well for the industry outlook. However, the rising demand for immunity-boosting products triggered the demand for healthy snack items. With the resumptions of global sports tournaments, sports nutritional bars could be sought-after, faring well for the global market.
think! Bolsters Keto Protein Bar Offering with the Introduction of Two New Flavors
Well-established players and new entrants are slated to prioritize organic and inorganic policies to expand their footprint across untapped areas. With the rising demand for low sugar and carb items, major companies could focus on new flavors with high-quality ingredients and delicious taste. To illustrate, in August 2021, think! announced the expansion of its keto line offering through the introduction of chocolate peanut butter cookie dough and chocolate mousse pie. The protein bar market share will witness a notable gain against the backdrop of investments in product portfolio expansion. Leading companies are poised to invest in advanced product offerings amidst the trend for a vegan diet and energy-boosting products.
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https://www.fortunebusinessinsights.com/industry-reports/protein-bar-market-100805
Trend for Protein Diet to Usher in Innovation
Protein bars have emerged as a value proposition among the millennial and gen Z population. The trend for ready-to-eat protein sources has become pronounced across advanced and emerging economies. Athletes and weight trainers are expected to seek nutritious bars to bolster performance and maintain energy levels. Specifically, in September 2020, Maxim Nutrition rolled out the Maxim Apple cinnamon energy bar to offer sports enthusiasts high-quality nutrients and a solid foundation for a good performance. Investments in the fitness culture will foster the protein bar market growth during the forecast period. Moreover, traction for convenience and healthy foods will bode well for key players gearing to expand their presence globally. However, high sugar content and prevalence of alternative products could dent the industry growth over the next few years.
Stakeholders Prioritize Investments in Mergers & Acquisitions to Boost Presence
Major players are poised to inject funds into mergers & acquisitions, product launches, R&D activities, and technological advancements to propel their penetration. Furthermore, leading companies could infuse funds into innovations to expand their market presence across untapped areas.
Notable Industry Development
List of the Companies Profiled in the Report
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD billion) |
By Source |
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By Type |
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By Distribution Channel |
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By Geography |
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