Nutritional Bar Market Revenue | Global Analysis by Forecast to 2023
Market Overview
Global Nutritional Bar Market Revenue is analysed in detail in the new report from Market Research Future (MRFR). The report analyses the global nutrition bar market size and nutrition bar market trends to deliver a comprehensive analysis of the nutrition bar market. The global nutritional bar market is mainly driven by the growing demand for healthy alternatives to snacks such as candy and jelly, which can be bad for the health of the consumer. Growing product innovation in the nutritional bar market is likely to be vital for steady market growth over the forecast period.
The growing awareness about the health benefits of nutritional bars over other conventional snack items such as candy and junk food is likely to remain the most important driver for the global nutritional bar market over the forecast period. Nutritional bars are rich in fiber and protein, which is likely to make them increasingly popular among consumers in developed countries over the forecast period. Nutritional bars also often include bran or other natural fibers, which makes them more fulfilling and satisfying than conventional snack food. This also makes them heart-healthy in the long run. This is likely to remain a major driver for the global nutritional bar market over the forecast period.
On the other hand, the availability of a number of healthy alternatives for snacking could hinder the global nutritional bar market’s growth over the forecast period. While nutritional bars are becoming increasingly popular around the world, they are competing with more popular products such as sandwiches and puffs. This could hold the nutritional bar market back significantly over the forecast period. Product innovation to reach out to a diverse array of consumer demographics could, however, solve this problem in the coming years.
Competitive Analysis
Leading players in the Global Nutritional Bar Market Revenue include Atkins Nutritionals Inc., Kellogg Co., General Mills Inc., Mars Inc., Quaker Oats Company, Clif Bar & Company, and Kashi Company.
Industry Updates
In March 2019, nut bar maker Kind petitioned the FDA to update its food regulation labels.
Segmentation
Global Nutritional Bar Market Revenue is segmented on the basis of type, flavor, distribution channel, and region.
By type the global nutritional bars market is segmented into protein bars, meal replacement bars, snack bars, whole food bars, and others. Protein bars constitute the largest segment of the nutritional bar market. The growing number of fitness-conscious individuals looking for a stable solution for snacking is likely to be a major driver for the protein bars segment over the forecast period.
By flavor, the global nutritional bar market is segmented into chocolate, fruits, peanut butter, savory, spices, and others. Chocolate flavor dominates the global nutritional bar market due to its widespread popularity and growing appeal. Fruit- and peanut butter-flavored bars are also likely to be popular and rise in sales over the forecast period.
By distribution channel, the global nutritional bar market is segmented into store-based and non-store-based. The store-based segment, including grocery stores and supermarkets, dominates the global nutritional bar market. However, non-store-based distribution channels could also become increasingly important in the global nutritional bar market over the forecast period. This is mainly due to increasing efforts from manufacturers to make the most of online distribution channels and their growing popularity among consumers.
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Regional Analysis
Asia Pacific dominates the global Nutritional Bar Market Revenue due to the growing disposable income of consumers in the region and the growing population in the region. The rising popularity of local manufacturers of nutritional bars, who have taken local taste into account while manufacturing the nutritional bars, is likely to be a major driver for the nutritional bar market in Asia Pacific over the forecast period.
North America is also likely to be a major regional market for nutritional bars over the forecast period due to the growing demand for healthy snacking options. The increasing awareness about nutritional bars as a heart-healthy food is also likely to play a key role in the market’s growth in North America over the forecast period.
The leading role played by Germany, France, Belgium, and Italy, which are key exporters of nutritional bar products, is likely to keep the Europe market relevant in the global nutritional bar market over the forecast period.
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