The nutritional bars market size is expected to grow from US$ 7,100.96 million in 2022 to US$ 9,838.38 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Nutritional bars are low in sugar and high in protein and omega-3 fatty acids with fewer additives. Owing to their high fiber and protein content, they are considered as healthier alternatives than other bars. Nutritional bars improve protein levels in body, help repair muscles, improve body performance, boost metabolism, and lower glucose and saturated fat levels before and after a workout. Nutritional bars consist of various product types such as protein bars and high-fiber bars. The growth of the nutritional bars market is attributed to the increasing awareness regarding the benefits of nutritional bars and the growing number of fitness and wellness centers across the world.
In 2021, North America held the largest share of the global nutritional bars market. However, Asia Pacific is estimated to register the highest CAGR during the forecast period. Emerging countries in Asia Pacific are witnessing a surge in health-conscious consumers, which will create demand for functional food products such as nutritional bars. The busy lifestyle of the growing urban middle-class population and the lack of nutritional diet of individuals are driving the market growth. Governments of various countries in the region have taken proactive measures to control the spread of novel coronavirus infection that causes COVID-19. During COVID-19 pandemic, the need for healthy food and beverage products increased across the region to improve immunity. The increasing urbanization, rising disposable incomes, and growing number of health-conscious consumers are boosting the demand for nutritional bars across the region.
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Nutritional Bars Market: Strategic Insights
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Nutritional Bars Market: Strategic Insights
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Impact of COVID-19 Pandemic on Nutritional Bars Market
Before the COVID-19 outbreak, the nutritional bars market was driven by the rising demand for snacking options with high nutritional content that support digestive and immune health. Moreover, in 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. Further, the COVID-19 pandemic had a long-term favorable impact on the nutritional bars market. Hence, the demand for nutritional bars is high because they help maintain the overall nutritional requirement of the human body.
Further, the COVID-19 pandemic had a long-term favorable impact on the nutritional bars market. Hence, the demand for nutritional bars is high because they help maintain the overall nutritional requirement of the human body. Consumers gravitated toward immunity-boosting and nutritious products due to the rising number of COVID-19 patients. Owing to the impacts of the COVID-19 pandemic, consumers have been increasingly attentive to their health and wellness. Furthermore, an increased demand for on-the-go snacking products with high nutritional content boosted the sales of nutritional bars. As consumers' focus increased on finding better options for improving immunity during the pandemic, the need for nutritional bars grew across the globe.
Market Insights
Strategic Developments by Key Players Favor Nutritional Bars Market Growth
In June 2022, Kellogg's Special K introduced protein snack bars that provide 6 grams of protein and 90 calories per bar. The products are available in two flavors Berry Vanilla and Brownie Sundae. The product costs US$ 4.29 for a five-count package. Companies are expanding their production capabilities to meet the rising demand for nutritional bars across the world. Such strategies are expected to fuel the nutritional bars market growth during the forecast period.
Category Insights
Based on category, the nutritional bars market is bifurcated into conventional and gluten-free. The conventional segment held a larger market share in 2021, whereas the gluten-free segment is expected to register a higher CAGR from 2022 to 2028. The demand for conventional nutritional bars is expected to decrease as consumers are becoming health-conscious and preferring healthy alternatives such as gluten-free nutritional bars. People allergic to gluten cannot consume conventional bars.
Distribution Channel Insights
Based on Distribution Channel, the nutritional bars market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarket segment held the largest market share in 2021, whereas the online retail segment is projected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are large retail establishments that offer a wide range of products, such as groceries, nutritional products, and other household goods. Products from different brands are available at reasonable prices in these stores, which allows shoppers to find the right product quickly. Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Supermarkets and hypermarkets focus on maximizing product sales to increase their profit.
The Simply Good Foods Co, Clif Bar & Co, General Mills Inc, The Kellogg Co, Rise Bar Inc, The Quaker Oats Co, Perfect Bar LLC, Mars Inc, Kind LLC, and Premier Nutrition Co LLC are a few major players operating in the nutritional bars market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.
Nutritional Bars Market Regional Insights
The regional trends and factors influencing the Nutritional Bars Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Nutritional Bars Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Nutritional Bars Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 7.1 Billion |
| Market Size by 2028 | US$ 9.84 Billion |
| Global CAGR (2022 - 2028) | 5.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Nutritional Bars Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Nutritional Bars Market are:
- The Simply Good Foods Co
- Clif Bar & Co
- General Mills Inc
- The Kellogg Co
- Rise Bar Inc
Disclaimer: The companies listed above are not ranked in any particular order.
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Report Spotlights
- Progressive industry trends in the nutritional bars market to help companies develop effective long-term strategies
- Business growth strategies adopted by the nutritional bars market players in the developed and developing countries
- Quantitative analysis of the market from 2022 to 2028
- Estimation of global demand for nutritional bars
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the nutritional bars market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the nutritional bars market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the nutritional bars market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the nutritional bars industry
- Size of the nutritional bars market in various regions with promising growth opportunities
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Category, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global nutritional bars market are The Simply Good Foods Co, Clif Bar & Co, General Mills Inc, The Kellogg Co, Rise Bar Inc, The Quaker Oats Co, Perfect Bar LLC, Mars Inc, Kind LLC, and Premier Nutrition Co LLC.
Nutritional bars manufacturers are increasingly launching products with functional claims and are communicating the health benefits associated with the consumption of the bars. This allows them to expand their customer base and increase their profits. The successful communication of functional claims is the main concern for manufacturers. Recent reports from scientific literature confirm that consumers are genuinely interested in health-related claims, but interest seems to vary depending on the type of food products. Too much information and difficulty interpreting different health claims have been noted as factors that can negatively influence consumers while purchasing nutritional bars. Therefore, including functional claims on labels is likely to provide significant growth opportunities to the manufacturers of nutritional bars in the coming years.
Based on the category, gluten-free segment is projected to grow at the fastest CAGR over the forecast period. Rising health concerns among consumers and increasing number of product launches has surged the growth of gluten-free nutritional bars segment.
Over the past few years, people have become more concerned about what they eat and the nutritional profile of the products they eat. Nutritional bars manufacturers are engaging in various strategic development initiatives to sustain in the market by offering innovative products to customers. For example, in 2021, LUNA, the women-centric brand by Clif Bar & Company, launched a new line of bars containing 2.5 grams of prebiotics. These are the first bars with prebiotics. Studies show that 5 grams or more of fiber-containing prebiotics can propel the development of beneficial bacteria in the gut, supporting digestive health. Such product launches attract consumers to choose from a wide range of nutritional bars, which is eventually bolstering the growth of the nutritional bars market.
Based on type, protein bars segment mainly has the largest revenue share. The growth of the segment is attributed to growing veganism trend among consumers and increasing popularity and consumption of plant-based protein bars.
North America accounted for the largest share of the global nutritional bars market. North America is one of the most significant regions for the nutritional bars market owing to the rising preference for on-the-go snacking, meal replacement, functional food, and indulgence. In addition, the rising vegan population and veganism are boosting the demand for plant-based nutritional bars. Thus, leading manufacturers are launching plant-based nutritional bars to cater to consumers’ demands.
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The List of Companies - Nutritional Bars Market
- The Simply Good Foods Co
- Clif Bar & Co
- General Mills Inc
- The Kellogg Co
- Rise Bar Inc
- The Quaker Oats Co
- Perfect Bar LLC
- Mars Inc
- Kind LLC
- Premier Nutrition Co LLC
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