Energy Bar Market - Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titledEnergy Bar Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing Energy Bar market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
Energy Bar Reports Highlights
What is the size of the Energy Bar Market?
The Global Energy Bar Market is projected to grow at a CAGR of around 5.6% during the forecast period, i.e., 2023-28. The market is primarily driven by increased expenditure on food and beverage, growing health consciousness, substantial shifts in meal patterns existing food habits, and predominantly the shifting taste preferences worldwide. Developed countries like the USA have demonstrated the maximum adoption of these bars. In fact, more than half the population here is already snacking on the bars, with many of them subconsciously upscaling their average consumption of the energy bars.
What do the growth prospects and trends look like in the Energy Bar Industry?
Although the market has witnessed expansion with numerous favorable market trends, A few aspects might hinder market growth in the coming years. Allergy triggered by ingredients used in energy bars is one of them. According to Food Allergy Research Education (FARE), around 25 to 40% of people are allergic to both tree nuts and peanuts. In fact, all pre-packaged foods in the United States that use nuts as an ingredient must list the type of nut on the label, as a requirement of the federal Food Allergen Labelling and Consumer Protection Act of 2004 (FALCPA). Besides, the high pricing of these bars is likely to impede market growth during the forecast period.
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What Components are encompassed within Energy Bar Market segmentation?
The report has divided the market into the following segments:
By Type
-Protein Bar
-Nutrition Bar
-Cereal Bar
-Fiber Bar
By Nature
-Organic
-Conventional
By Distribution Channel
-Hypermarket Supermarket
-Convenience Stores
-Speciality Stores
-Online Sales Channel
By Region
-North America
-South America
-Europe
-The Middle East Africa
-Asia-Pacific.
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
-Brighter Foods Ltd
-Clif Bar Company
-General Mills, Inc.
-Kind LLC
-McKee Foods Corporation
-NuGo Nutrition
-Premier Nutrition Inc.
-Probar LLC
-Quest Nutrition
-Kellogg Company
-Others.
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Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.
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