Energy Bar Market | Forecast and Trend Analysis

Technavio has been monitoring the energy bar market and it is expected to grow by USD 891.63 million accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report

Energy Bar Market: Emerging Trends to Impact Market Growth

The global sports nutrition industry is witnessing a significant growth owing to the expanding consumer base comprising of professional athletes and fitness enthusiasts. Energy bars and ready-to-drink (RTD) products are key sports nutrient products. The sales growth of energy bars is attributed to the fact that athletes seek multifunctional and better-tasting food supplements. Besides, an increasing number of children are participating in athletic and sports activities, which is contributing to the growth of the global energy bar market. For instance, in the US, almost one-quarter (24%) of children aged 6-17 years were involved in 60 minutes of physical activity every day in 2017. Therefore, the increasing demand for sports nutrition is anticipated to drive the demand for energy bars during the forecast period.

• The energy bar market has witnessed a lot of transformational changes in terms of product innovation. Key vendors are experimenting with diverse ingredients to retain customer loyalty.
• Although the product was initially targeted at professional athletes, the consumer base has slowly started to widen and is now set to cater to several diet trends.
• Clean-labeling has become an emerging trend in the global energy bar market. Key vendors are coming up with GMO-free energy bars for health-conscious consumers across the globe. For instance, Kind LLC (Kind) has introduced the non-GMO project in a majority of its product lines, especially in the energy bars category, and the non-GMO seal appears on all of its marketing communications. 

Energy Bar Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Bearded Brothers LLC, Clif Bar and Co., Empact Bars LLC, Garuka Bars, General Mills Inc., Kellogg Co., Kind LLC, Mondelez International Inc., and PepsiCo Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Browse through some of other related market research reports for more insights:

• Energy Bar Market in North America: The energy bar market in North America is set to grow by $ 1.09 bn, accelerating at a CAGR of almost 4.64% during the forecast period.
• Fortifying Agent Market: Global fortifying agent market is likely to post an incremental growth of $ 43.24 billion, accelerating at a CAGR of 10.64% during the forecast period.

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