Energy Bar Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 26, 2024 /EINPresswire.com/ -- The global energy bar market is on a steady growth trajectory, expanding from $4.08 billion in 2023 to $4.26 billion in 2024, with a compound annual growth rate (CAGR) of 4.4%. This growth is driven by heightened health and fitness awareness, evolving consumer lifestyles, a surge in interest in weight management, ingredient innovations, and the increasing demand for convenient, on-the-go nutrition. The market is projected to reach $5.09 billion by 2028, maintaining a CAGR of 4.5% during the forecast period.
Rising Popularity of Healthy Snacking Drives Market Growth The growing emphasis on healthy snacking is a key driver of the energy bar market's expansion. Consumers are increasingly making mindful and nutritious choices for their snacks, favoring convenient and health-conscious options that fit their dietary preferences and busy lifestyles. A recent survey by the International Food Information Council (IFIC) reveals that 73% of people snack daily, with younger generations particularly inclined towards energy-boosting options. Fruits, dairy, and nutrition bars are popular choices, with energy bars catering to the demand for portable and nutritious snacks. This trend underscores the market's potential as consumers seek more convenient ways to integrate healthy eating into their daily routines.
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Key Players and Market TrendsMajor players in the energy bar market include Lotus Bakeries NV, General Mills Inc., Clif Bar & Company, ProBar LLC, Post Holdings Inc., and PepsiCo Inc., among others. Companies are actively pursuing product innovations to stay competitive . For example, That’s It launched the Keto Kick coffee energy bar in July 2021, featuring plant-based ingredients and caffeine from Fair Trade Ethiopian coffee beans. This innovation caters to the growing demand for keto-friendly and plant-based options.
Trends Shaping the MarketSeveral trends are shaping the energy bar market:• Low Sugar and Natural Sweeteners: Increasing preference for healthier sweetening options.• Innovative Flavors and Textures: Introduction of unique and diverse flavor profiles.• Sustainable Packaging Solutions: Focus on eco-friendly packaging materials.• Personalized Nutrition Offerings: Customizable energy bars catering to individual dietary needs.• Snacking Convenience and Portability: Emphasis on products that are easy to consume on-the-go.• Collaborations and Limited Editions: Strategic partnerships and exclusive product releases.
Market SegmentationThe energy bar market is segmented as follows:• By Type: Protein Bar, Nutrition Bar, Cereal Bar, Fiber Bar• By Nature: Organic, Conventional• By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Other Distribution Channels
Regional Insights: North America Leading the MarketIn 2023, North America was the largest market for energy bars. Looking ahead, Europe is anticipated to be the fastest-growing region, driven by rising health consciousness and the expansion of fitness and wellness industries.
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Energy Bar Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Energy Bar Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on energy bar market size, energy bar market drivers and trends, energy bar market major players, competitors' revenues, market positioning, and market growth across geographies. The energy bar market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Originally published at https://www.einpresswire.com/article/738273955/strategic-analysis-of-the-global-energy-bar-market-2024-2033
