Nutritional Bar Market Overview
The Nutritional Bar market is expected to register a CAGR of 4% from 2022 to 2030 and hold a value of over ~USD 1.84 billion by 2030.
The Nutritional Bar Market is composed of a variety of high protein, low sugar, and omega-3-rich options that are considered to be very healthy due to their nutrient composition. However, due to the current pandemic, production of these bars has declined due to disruptions in the supply of raw materials needed for manufacturing. Additionally, stores have been closed which has further decreased the availability of these bars.
Key Players
Some of the Nutritional Bar key market players are Atkins Nutritionals Inc. (U.S.), and Clif Bar & Company. (U.S.),General Mills Inc. (U.S.), Kellogg Co. (U.S.), Kashi Company (U.S.), Quaker Oats Company (U.S.), Mars Incorporated (U.S.), GoMacro.
Market Segmentation
The global Nutritional Bar market has been segmented into type, flavors, and distribution channels.
Based on type, the market has been segmented into protein bars, snack bars, whole foods car, meal replacement cards, and others. And among these, a protein bar is dominating the Nutritional Bar market. A protein bar is a healthy food that is popular among young athletes and bodybuilders. Not only are they packed with protein (hence the name) but they also have a lot of vitamins and minerals that your body needs to function properly.
Based on flavors, the market has been segmented into chocolate z peanut butter, fruits, spices, and others. Chocolate is dominating the Nutritional Bar market. Chocolate is responsible for getting people to eat more of these bars. Chocolate-covered health bars are at the top of the charts and are not only popular with children, but also with health-conscious adults who appreciate the tasty treat.
Based on the distribution channel, the market has been segmented into stored-based and non-store-based. The non-store-based segment is dominating the Nutritional Bar market. This is because this segment offers a wider range of products and a more convenient shopping experience. In addition, this segment also has a lower price point, which is appealing to consumers. The non-store-based segment offers a variety of products, including bars that are high in protein, fiber, and vitamins.
Regional Analysis
The Asia Pacific is the fastest-growing region, and it is expected to grow at the highest CAGR rate in the forecast period. India and China are the most contributing countries in this region due to the increasing population. North America is also growing at a faster rate due to the high demand for nutritional bars.
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