The global protein bar market is poised for steady growth with increased attention given to weight management. Key market insights have been shared by Fortune Business Insights in its report, titled “Protein Bar Market Size, Share and Global Trend By Source (Animal Protein, Plant Protein), By Protein Content (High Protein, Medium Protein, Low Protein), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Retailers, Convenience Stores, Online Channels, Others), and Geography Forecast Till 2026”. The report brings out a comprehensive market analysis and provides an in-depth assessment of the key factors that will influence the market.
List of prominent companies that are operating in the global Protein Bar Market are:
- Mars Incorporated
- Kellogg Co.
- General Mills, Inc.
- Quest Nutrition
- Herbalife Nutrition
- Abbott Nutrition Manufacturing, Inc.
- Lenny and Larry’s, LLC, and others.
Protein bars are nutrition bars packed with proteins and low levels of carbohydrates and fat. The most common ingredient used is whey, followed by casein. In some cases, a combination of the two is used, called milk protein.
Convenience of Usage to Drive the Market
The growth of the global protein bar market is premised on the fact that protein bars are convenient to use as they can be easily carried anywhere and consumed on-the-go. This factor holds special weight in today’s hectic world where working people are not getting adequate nutrition from conventional foodstuffs. Rapidly changing lifestyles, requiring increased protein intake, are increasing the demand for protein bars and are expected to drive the global protein bar market.
Numerous Health Benefits to Spur Market Growth
Rising awareness about increased protein intake among people is expected to fuel the global protein bar market during the forecast period. One of the most beneficial properties of protein-rich food is their ability to suppress appetite owing to their high protein and fiber content. This aids weight loss and is, therefore, seeing increasing demand, especially from working populations who need energy supplements to function through the day. They also lead to better muscle protein synthesis, thereby strengthening muscles. Furthermore, protein bars are extremely useful for athletes and sportspersons who have high protein requirements. The global protein bar market is set to gain traction as a result of these favorable factors.
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Market Growth May Not Be Unimpeded
The global protein bar market is expected to grow steadily on account of the health benefits and convenience of usage of protein bars. However, protein bars carry certain cons that may make the consumers cautious before buying them. For example, protein bars contain large amounts of sugar, typically over 30 grams. Some protein bars also contain complex additives that may not be good for health. Moreover, proteins can be consumed through natural foodstuffs such as eggs and meat which are easily available and are less expensive. This may also have a negative impact on the global protein bar market during the forecast period.
Innovative Products to Drive Market Competition
Key market players are looking gain a competitive edge in the global protein bar market through new product launches and greater investments in research and development activities. For example, in June 2018, Clif Bar and Company launched smoothie-filled energy bars along with two other varieties of energy bars specially for the summer season. Similarly, Trek launched a new product line of protein nut bars that were a blend of taste and nutrition. Such innovations will push up the market potential and accelerate market expansion during the forecast period.
Major Segments includes:
- Animal Protein
- Plant Protein
By Protein Content
- High Protein
- Medium Protein
- Low Protein
By Distribution Channel
- Specialty Retailers
- Convenience Stores
- Online Channels
Plant Protein to See High Demand
The plant protein market segment is expected to see a surge in demand owing to rising adoption of veganism. This is coupled with growing preference for gluten-free protein, both of which will boost the global protein bar market.
North America and Europe to Occupy a Dominant Market Position
Owing to the presence of major market players and increasing demand for nutritional foods in the sports industry, North America and Europe are set to hold a commanding market share. However, Asia-Pacific is expected to register the fastest growth in the global protein bar market, particularly from India and China. This is mainly expected on account of increasing working and health-conscious populations in the region.
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