Close up of Granola Bar
The Energy Bar Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Energy Bar Global Market Report 2024, The energy bar market size has grown steadily in recent years. It will grow from $4.08 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increased health and fitness awareness, shift in consumer lifestyles, growth of interest in weight management, innovation in ingredients, convenience and on-the-go nutrition.
The energy bar market size is expected to see steady growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to retail availability and accessibility, plant-based and sustainable options, smart nutrition and functional ingredients, global health challenges response, expansion of fitness industry. Major trends in the forecast period include low sugar and natural sweeteners, innovative flavors and textures, sustainable packaging solutions, personalized nutrition offerings, snacking convenience and portability, collaborations and limited editions.
Increasing participation in sports, health clubs, and gyms is driving the energy bar market going forward. Sports refer to physical activities or games that are typically played competitively or for leisure. Health clubs or gyms refer to facilities that offer a variety of fitness and exercise equipment, classes, and services designed to help people improve their physical health and fitness. Energy bars provide a healthy source of fitness enthusiasts and helps them meet their fitness goals. For instance, in 2022, according to the Sports & Fitness Industry Association (SFIA), a US-based industry association of the sports and fitness industry, 237 million US citizens participated in at least one sport, which was an increase of 9.2% from 2017 and 1.9% from 2021. Further, Cardio kickboxing had the highest year-on-year increase with 8.5% from 2021 to 2022. Therefore, the increasing participation in sports, health clubs, and gyms is propelling the energy bar market.
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The energy bar market covered in this report is segmented –
1) By Type: Protein Bar, Nutrition Bar, Cereal Bar, Fiber Bar
2) By Nature: Organic, Conventional
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Other Distribution Channels
Product innovations are a key trend gaining popularity in the energy bar market. Major companies operating in the market are introducing innovative products such as ‘That’s it Keto Kick coffee energy bar’ to sustain their position in the market. For instance, in July 2021, That’s It, a US-based manufacturer of healthy snacks launched a new Keto Kick coffee energy bar. The uniqueness of the product is that it’s suitable for the keto diet and has only six plant-based whole ingredients. It contains 95mg of caffeine from Fair Trade, single-origin Ethiopian coffee beans. With the introduction of this new snack, there is now a healthier and easier method to provide body with the whole foods and caffeine it needs while maintaining a plant-based and ketogenic diet.
The energy bar market report table of contents includes:
1. Executive Summary
2. Energy Bar Market Characteristics
3. Energy Bar Market Trends And Strategies
4. Energy Bar Market – Macro Economic Scenario
5. Global Energy Bar Market Size and Growth
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26. South America Energy Bar Market
27. Brazil Energy Bar Market
28. Middle East Energy Bar Market
29. Africa Energy Bar Market
30. Energy Bar Market Competitive Landscape And Company Profiles
Top Major Players:
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