Protein Bar Market to Reach Valuation of USD 6.0 Billion by 2028 – Rising demand for the Diabetic Pump to Drives the Market

In terms of revenue, the Global Protein Bar Market is expected to reach USD 6.0 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 5.60% from 2022 to 2028.

A good source of calcium, potassium, vitamin B, fiber, and iron can be found in Protein Bar. Additionally, they can aid in muscular growth and even weight loss. Protein Bar can also be a healthy dinner substitute or a post-workout snack.

Foods that are convenient for consumption, storage, and handling are preferred by consumers nowadays over foods with health benefits. In this regard, convenience is a major selling point for ready-to-eat healthy foods like Protein Bar. Furthermore, the demand for processed and convenience foods is fast rising because of growing socioeconomic necessities, more health consciousness, and a lack of time to prepare nutrient-dense meals. As a result, the demand for Protein Bar increases significantly.

People choose the energy and weight-management goods like Protein Bar to stay fit and healthy in their daily lives. This change in lifestyle preferences drives the worldwide protein bar market. However, recalling protein bar goods due to diverse sensitivities brought on by different substances in their composition can hurt the protein bar market globally.

Key Developments in the Industry

· August 2021 - Think!, a brand of Glanbia Nutrition, added the flavors of chocolate mousse pie and chocolate peanut butter cookie dough to its lineup of keto Protein Bar.

· RXBAR, a Kellogg subsidiary, debuted its first plant-based snack in June 2021. The 10 grammes of protein in RXBAR Plant comes from pea and almond protein instead of the brand's signature egg white protein.

Market Dynamics

A recently developed food category called a protein bar had been widely used as a nutritional supplement. Because its main constituent, proteins, has the capacity to help develop muscle, this simple ready-to-eat protein source is becoming more and more popular among fitness-conscious organizations. It is a suitable post-workout snack after gym exercises for athletes and those doing heavy lifting or other jobs requiring strenuous physical activity. Protein consumption is essential for maintaining energy levels and improving performance in weightlifters and athletes. Therefore, it is anticipated that increased adoption of fitness activities will boost product demand globally.

Additionally, to satisfy the unique needs of athletes, both the large market players and smaller minor market players participating in the market are highly inclined toward product innovation. For instance, the Maxim Apple Cinnamon energy bar was introduced by the Dutch sports nutrition business Maxim Nutrition in September 2020 to give athletes and sports enthusiasts high-quality nutrients and a strong platform for performance.

It's important to have healthy meal options in an environment where the demand for convenience foods is fast increasing due to changes in lifestyle, longer commutes, and demanding work schedules. Healthy bars are a viable replacement for meals because they are portable and help regulate hunger by acting as an instant energy boost. According to the International Food Information Council (IFIC) Foundation's 2018 "Food & Health Poll," 10% of the American population who participated in the survey said they preferred protein for energy. More than 10% said they would eat its proteins to prevent cardiovascular problems. As a result, the rising popularity of health clubs and the high demand for nutritious foods will likely drive up the price of protein-rich bars in the near future.

During the forecast period, the Protein Bar Market in North America is anticipated to develop at the quickest rate. The global market is anticipated to be dominated by the expanding number of fitness enthusiasts and the rising number of gyms, fitness training facilities, and health clubs in North America. The American population is concentrating on improving their health, and a diet high in protein is one of the possible strategies to do this. The region's customs of between-meal snacking are thought to be responsible for the emergence of protein-enriched snacks. Consumers are looking for quick, wholesome meals they can eat on the go. In the 2020 Food and Health Survey conducted by the International Food Information Council, 90% of Americans said they ate snacks at least once each week. One-fourth claim to do so more than once a day, while 38% claim to replace meals with snacks periodically.

The Global Protein Bar Market is Segmented as follows

• Sources
  • Plant-Based
  • Animal-Based
• Types
  • Sports Nutrition Bars
  • Meal Replacement Bars
  • Other Types
• Distribution Channels
  • Mass Merchandisers
  • Specialty Stores
  • Convenience Stores
  • Online Channels
  • Other Channels
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Protein Bar Market is

General Mills Inc. (U.S.) The Simply Good Foods Company (U.S.), The Kellogg Company (U.S.), Clif Bar & Company (U.S.), Glanbia PLC. (Ireland), GNC Holdings Inc. (U.S.), Mars, Incorporated (U.S.), Mondelez International (U.S.), Post Holdings INC. (U.S.) , Amway Corp. (U.S.), The Bountiful Company (U.S.)

The Global Protein Bar Market Scope can be Tabulated as below