Protein Bar Market 2023 Size, Share, Industry Analysis, Trends and Forecast 2028

SHERIDAN, WYOMING, UNITED STATES, February 25, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Protein Bar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global protein bar market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.47% during 2023-2028.

A protein bar refers to a nutritious snack food designed to serve as a convenient source of nutrition. It is produced from dates, nuts, dried fruits, seeds, and whole grains like oats and quinoa. It is a rich source of fats, vitamins, carbohydrates, protein, and other vital nutrients. It offers numerous health benefits, including strengthening bones and muscles, boosting energy, reducing sugar levels, and promoting weight management. It is available in numerous flavors, including caramel, honey, chocolate, coconut, and orange. In recent years, protein bars have gained traction due to their adoption to meet the nutritional requirements of the body.

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Market Trends

One of the primary factors driving the market is the changing consumer preferences toward ready-to-eat (RTE), healthy, and meal-replacing snacking options. Additionally, the growing awareness about the health benefits offered by protein bars is creating a positive market outlook. Besides this, with the increasing health consciousness among individuals, key players are constantly introducing innovative product variants. For instance, they are launching gluten-free, plant-based, and organic variants to expand their consumer base. Moreover, the growing trend of fitness centers and gyms and the innovative marketing strategies adopted by them to promote protein bars are creating lucrative growth opportunities for the key players operating in the industry. Apart from this, the easy accessibility of the product through online and offline modes and the availability of numerous payment options are catalyzing market growth. 

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List of Key Companies Covered in this Market Report:

Amway Corp.
Caveman Foods LLC
Clif Bar & Company (Mondelez International Inc.)
General Mills Inc.
Hormel Foods Corporation
Kellogg Company
Mars Incorporated
Nestlé S.A.
NuGo Nutrition
Orgain Inc.
Premier Nutrition Company LLC (BellRing Brands Inc.) 
The Simply Good Foods Company.

The report has segmented the market on the basis of source, type, distribution channel and region.

Breakup by Source:

Plant-Based
Animal-Based

Breakup by Type:

Sports Nutrition Bar
Meal Replacement Bar
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others

Breakup by Region:

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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