Protein bars are nutritional snacks that are composed of protein and various essential nutrients. These nutrient-rich bars are a good source of protein, fibers, vitamins, and minerals that help meet daily nutritional requirements and maintainoverall well-being. The on-the-go lifestylehas increased the demand for convenient food items like protein bars.
The global Protein Bars Market is estimated to be valued at US$ 5.22 Billion in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising health awareness around the world has been a key driver promoting the growth of the protein bars market. With growing knowledge about chronic diseases and importance of maintaining well-balanceddiet, people are increasingly focusing on consumption of foods that offer balanced nutrition. Protein bars are finding greater demand owing to nutritionalcomposition and portability. This trend is likely to continue in the coming years thereby propelling the protein bars market expansion during the forecast period.
SWOT Analysis
- Strength: Protein bars offer convenience as an on-the-go snack or meal replacement. They provide sustained energy and help muscle growth.
- Weakness: Some protein bars are high in sugar, fat, and calories. Excessive consumption can lead to weight gain. Some people may not like the taste and texture of certain protein bars.
- Opportunity: Growing focus on fitness and wellness has increased the demand for protein-rich foods. There is scope to offer more innovative flavors and formulations of protein bars.
- Threats: Rising input costs of raw materials like protein powders can increase the price of protein bars. Growing popularity of other snack options like protein cookies poses competition.
Key Takeaways
The global protein bars market is expected to witness high growth over the forecast period of 2024 to 2031. The market was valued at US$ 5.22 Billion in 2024 and is projected to reach US$ 9.11 Billion by 2031, registering a CAGR of 6.5%.
Regional analysis – North America dominates the global protein bars market and is expected to continue its lead during the forecast period. This can be attributed to increased awareness about nutrition and growing consumption of protein-rich snacks. Asia Pacific is expected to exhibit the fastest growth owing to rising health consciousness, urbanization, and disposable incomes in developing countries such as China and India.
Key players – Key players operating in the protein bars market include Groupe Danone, Kellogg Co., General Mills, Inc., Premier Nutrition, Abbott Laboratories, Quest Nutrition, Universal Nutrition Corp., and Active Nutrition International GmbH. These players are focusing on new product launches, expansions, and mergers & acquisitions to strengthen their market position and capitalize on lucrative growth opportunities.
The global protein bars market is expected to witness high growth. Regional analysis comprises North America dominates the global protein bars market and is expected to continue its lead during the forecast period. Key players related content comprises Key players operating in the protein bars market include Groupe Danone, Kellogg Co., General Mills, Inc., Premier Nutrition, Abbott Laboratories, Quest Nutrition, Universal Nutrition Corp., and Active Nutrition International GmbH.
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