Protein Bars Market Size | Industry Trends, Global Share and Forecast to 2024

24/mar/2020 12:53:34 suraj taur Contatta l'autore

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Market Analysis

Protein bars are nutritional bars which are high in plant based or animal based protein content. It provides extra carbs and proteins which help in building muscles and improve workout results by speeding up recovery from exercise. Moreover, to enhance the taste of the bars, manufacturers add various flavors to the product including Chocolates, Peanut Butter, Savory, Fruits, Spices and others. The high protein value of the product is driving the protein bars market. Increasing number of working population followed by the hectic lifestyle of consumers is adding fuel to the growth of the protein bars market. However, there are large number of product substitutes available in the market which may have a negative impact on the market growth. Nevertheless, all these factors are projected to contribute to the expected CAGR of 4.6% of Protein Bars Market Size during the forecast period, 2017-2024.  

Protein bars are an effective way to reduce cravings and prevent constant snacking. The trend of consuming protein bars as snacks between the meals is gaining popularity among all age groups which is driving the market of protein bars. Moreover, increasing population of health conscious individuals is propelling the market growth of protein bars.

Leading Key Players Trend

Some of the key players profiled in the Global Protein Bar Market are Kellogg Co. (U.S.), Atkins Nutritionals, Inc. (U.S.), Lenny & Larry's Incorporated (U.S.), Premier Nutrition (U.S.), Clif Bar & Company. (U.S.), General Mills Inc. (U.S.), Mars Incorporated (U.S.), Quest Nutrition (U.S.), Caveman Foods LLC (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.)

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Protein bars market is segmented on the basis of type such as plant protein and animal protein. Among them, plant protein is anticipated to gain substantial growth over the coming years due to increasing demand for gluten-free plant sources among the population suffering from celiac diseases.

On the basis of flavors, protein bars are segmented such as chocolates, fruits, savory, peanut butter, spices and others. The chocolate segment is witnessed to be dominating among others. However, the fruits and peanut butter segments are expected to have a steady growth over the forecast period.

Based on the distribution channel, protein bars are segmented as store based and non-store based. Protein bars are, however, mainly sold through store based distribution channel among which grocery wholesalers and retail stores are the major contributors.

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