Global Energy Bar Market is Expected to Grow at a CAGR of 4.80% in the Forecast Period of 2024-2032

The global energy bar market is majorly being driven by the rising population of health-conscious consumers, leading active lifestyles. The food pattern is common among Americans and Europeans, as they favour ready-to-eat healthy food, including energy snack bars. The convenience of the packed food with nutritious and healthy composition therefore speeds up the market. Having enough options for flavours, tastes, as well as health benefits, companies target health conscious buyers, increasing the sales and revenue of the industry. Companies are also introducing new products to meet the rising concentration of consumers. In the recent years, the launch of the energy bar products globally, has nearly doubled, with the European market leading the launch of new products. The emphasis on an organic source together, with a new range of products in the energy snack bar category, which have a rich flavour and texture, is a prominent business strategy adopted by the key players in the industry.

In October 2017, one of the key players, Kellogg Company (NYSE: K), announced that it has acquired the Chicago Bar Company LLC, the RXBAR maker, which is a line of clean-label protein bars made of tasty food components. RXBAR is also the most rapidly growing nutrition bar brand in the United States. RXBAR continues to operate independently as an independent company and can leverage the size and resources of Kellogg to further drive its development. With this deal, Kellogg will broaden its range of wholesome foods, including energy bars.

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Market Analysis by Nature, Distribution Channel, and Region:

• Based on nature, the market can be divided into organic and conventional.
• The distribution channels for energy bars include supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, and online retail stores, among others.
• The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Urbanisation has led to an increased demand for energy bars, which is aiding the market growth.
• The rapidly rising population of younger consumers are driving the demand for the product.
• The rising disposable incomes of the consumers is pushing the market growth further.
• Its health benefits make it a preferred alternative among health-conscious consumers, which is catalysing the market growth.
• The rising population of fitness enthusiasts is driving the growth of the energy bar industry.
• The availability of a vast range of flavours and price range is providing an impetus to the market growth.

Key Offerings of the Report:

• The EMR report gives an analysis of the global energy bar market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the nature, distribution channel, and major regional markets of energy bar.
• It assesses the market based on the SWOT and Porter’s Five Forces models.

The major key players in the global energy bar market include companies like Kellogg Company, General Mills, Inc., Clif Bar & Company, Abbott Laboratories, Quest Nutrition, LLC, and Probar, LLC, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions and capacity expansions.

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