The Protein Bar Market covers important aspects of this market concerning fundamental parameters. The report explains outline of the business range, concentrating on the overall industry, development possibilities, types and application. It brief Protein Bar summary of the market considering the current and future scenarios. It also provides information in terms of development and its capacities.
Globally, the market for protein bars is expected to register a CAGR of 3.9% from 2018 to 2023. The protein bar market was valued at USD 837 million in 2016.
The Protein Bar market is highly competitive and consists of a number of major players: The Kellogg Company, General Mills, Inc., Mars, Inc., Hormel Foods Corporation, The Whitewave Foods Company, Small Planet Foods, Inc., Premier Nutrition Corporation, Quest Nutrition, Llc, Musclepharm and other.
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Scope of the Report
The market has the presence of many new players such as Quest Nutrition, whose sales have increased by more than tenfold within a span of two to three years.
Key Market Trends
Key Market Trends
Evolving Fitness Trends and High Demand for Convenience Food
The key factors such as availability of bars with reduced allergen & gluten-free content and high demand for portable convenience foods is driving the protein bar market. Nutritional benefits from protein bars is another demand factor for consumers with more health consciousness. The consumers are seeking protein bars more for maintaining general wellness than for any specific requirement. Manufacturers have witnessed increasing sales of protein free bars. With a wider consumer base high prices are hindering sales in developing countries, mainly in East Asian countries.
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High Protein Content Bars Dominate the Market
The global high protein bars market was valued at USD 468.72 million in 2016 and is expected to reach to witness a CAGR of 3.58%.The high protein bars segment accounted for about 56% of the total protein bar market share as of 2016. High protein bars mainly provide consumers with potentially positive health benefit beyond basic nutrition, low calorie intake, and effective weight management. Protein bars contain a high percentage of ready to eat, easy to digest protein from both animal and plant protein sources. At global market, North America is largest consumer of protein bars, followed by Europe (especially Western Europe), Asia Pacific and rest of the world. Currently China is the fastest growing market for protein bars consumption.
Proteins used in bars mainly consist of dairy-based proteins such as whey or plant based proteins such as soy. But, now companies are coming with many other sources of plant- and animal-based proteins in bars, including pulses, nuts, lamb, and bison.
North America Protein Bar Market Accounts Highest Market Share
North America protein bar market is almost in saturating phase whereas Europe and Asia-Pacific market are getting high pace in both production and consumption. Europe holds 26% of the global market share in 2016. Healthy snacks and food supplements are on the rise, with high protein bar brand, demonstrating huge success in UK and China. Natural and Non-GMO protein bars is on track to become the best-selling wholesome protein bar in these regions. Asian market influence is increasing in the global protein bar market, with increasing potential and product innovation in China India and other countries.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Protein Bar Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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