The Protein Bar Global Market Report 2023 by The Business Research Company, provides protein bar market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Protein Bar Global Market Report 2023, the market size is expected to grow from $3.93 billion in 2022 to $4.22 billion in 2023 at a compound annual growth rate (CAGR) of 7.31%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The global protein bar market size is expected to reach $5.53 billion in 2027 at a CAGR of 7.04%.
The increasing popularity of protein-based diets is expected to propel the growth of the protein bar market going forward. Protein-based diets consist of foods that contain high amounts of protein, like meat, eggs, milk, nuts, beans, seafood, and vegan products like soy. The increased protein-based diets demand boosts the protein bar market as they are sources of proteins and other vital nutrients.
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The protein bar market is segmented:
1) By Source: Plant-Based, Animal-Based
2) By Product: Gluten-Free Protein Bars, Vegetarian Protein Bars, Sports Nutrition Bars, Other Products
3) By Protein Content: Low Protein Content, Medium Protein Content, High Protein Content
4) By End-User: Adult Male, Adult Female, Other End-User
Product innovation is the key trend gaining popularity in the protein bar market. Major companies operating in the protein bar market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2022, Kellogg Company, a US-based company that manufactures and markets protein bars, breakfast cereals, cookies, and other products, launched Protein Snack Bars through its brand Special K. The Special K Protein Snack Bars are powerful, equally tasty and filling, and include 90 calories and provide a quick boost of protein on the move without compromising on flavor. They include six grams of protein and come in two mouth-watering flavors including sweet Berry Vanilla and rich chocolaty Brownie Sundae.
Major Players:
- General Mills Inc.
- The Simply Good Foods Company
- Caveman Foods LLC, Kellogg Co.
- Glanbia PLC
- Mars Incorporated
The protein bar market report table of contents includes:
1. Executive Summary
2. Protein Bar Market Characteristics
3. Protein Bar Market Trends And Strategies
4. Protein Bar – Macro Economic Scenario
5. Protein Bar Market Size And Growth
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27. Protein Bar Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Protein Bar Market|
29. Protein Bar Market Future Outlook and Potential Analysis
30. Appendix
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