Protein Bar Market is Projected to reach $9.55 Billion, Fueled by a 6.3% CAGR by 2034

Growing Demand for Protein Bars as Quick Meal Replacement and Travel-Friendly Nutrition: Fact.MR Report

/EIN News/ -- Rockville, MD, Nov. 27, 2024 (GLOBE NEWSWIRE) -- According to a newly published report by Fact.MR, a market research and competitive intelligence provider, the global Protein Bars Market is estimated to reach a value of US$ 5.18 billion in 2024. The market is projected to advance at a CAGR of 6.3% between 2024 and 2034.

The increasing demand for protein bars around the globe is attributed to their several applications and advantages. Protein bars are becoming a more flexible option that accommodate a wide range of lifestyles and dietary requirements as customers place a greater emphasis on convenience, health, and on-the-go nutrition. Protein bars are providing a wide spectrum of nutritional needs, from busy professionals in need of quick, nourishing meals to fitness fanatics seeking post-workout recuperation. Their ubiquity encompasses weight control, enhancing muscular mass, and serving as meal substitutes for persons with limited time. Protein bars are becoming increasingly popular among the elderly and recovering populations as a convenient source of nourishment.

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The bars are perfect for travelers, outdoor enthusiasts, and emergency food supplies because of their lengthy shelf life and mobility. Protein bars are becoming more and more popular because of their formulas that are customized to meet different nutritional needs and preferences, such as vegan, keto, and gluten-free alternatives. The increasing trend in protein bar demand does not appear to be slowing down as people become more conscious of the value of protein in diets and producers keep coming up with new tastes and nutritional profiles.

Key Takeaways from the Protein Bar Market Study:

• The global protein bar market is forecasted to attain a valuation of US$ 9.55 billion by the end of 2034. The market in Japan is approximated to advance at a CAGR of 6.8% between 2024 and 2034, occupying a market share of 29.4% by 2034 in the East Asia region.
• The North American Market is analyzed to reach the threshold of US$ 2.32 billion by 2034 end. The market in Canada is projected to capture a share of 34.5% in the North American region by the year 2034.
• Based on the quantity of protein, the medium protein segment is evaluated to progress at a CAGR of 6.8% between 2024 and 2034. The East Asia region is approximated to expand at a CAGR of 6.6% through 2034.

“Variety of flavors to suit different preferences is enticing customers to go for protein bars on a daily basis,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Protein Bar Market:

The Key Players in the protein bar industry include GNC (General Nutrition Corporation); Clif Bar & Company; PowerBar; Quest Nutrition; Orgain; Kellogg Company (RXBAR); Larabar (General Mills); General Mills (Nature Valley); ThinkThin (Think Products); MusclePharm.

Protein Bar Industry News & Trends:

In May 2024, Gelita introduced Optibar, a new ingredient that makes soft, sugar-free protein bars. It also acts as a sugar-free binder, enabling the usage of words like "low sugar" and "no sugar." This combination allows for a higher protein content without compromising a pleasing, creamy texture.

In April 2024, the popular active nutrition brand Ready launched its new Kids Whole Grain Protein Bars, further solidifying its dedication to providing families with wholesome and delicious snack options. These kids' whole grain snack bars are 20% lower in sugar, include 6 grams of protein, and have 8 grams of whole grains to meet the nutritional needs of busy kids.

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Introducing Vegan and Keto Diets Pushing Sales Across the World:

In a market that is becoming more competitive, protein bar providers are using creative strategies to increase worldwide sales. Several people are focusing on product diversity and making bars that are suited to particular diets, such vegan, keto, and allergen-free alternatives. They increase customer base and seize specialized markets with this strategy. To set their products apart, manufacturers are also investing in cutting-edge tastes and ingredients. To appeal to consumers who are health-conscious, some are adding functional ingredients like collagen, trendy superfoods, or adaptogens. Some are experimenting with decadent tastes in an effort to draw in consumers looking for healthier substitutes for conventional snacking.

Influencer collaborations and social media campaigns are two examples of digital marketing tactics that are used to engage younger audiences and raise brand exposure. Several businesses are also making the most of their online presence by providing individualized diet programs and subscription services.
Another major area of attention for businesses is sustainability, as they emphasize ethical sourcing methods and use eco-friendly packaging. In an effort to boost profits and obtain useful customer data, several suppliers are also investigating direct-to-consumer business models.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the protein bar market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (snack bars, women’s protein bars, sports nutrition/energy protein bars, low-carb protein bars, meal replacement bars), quantity of protein (low protein, medium protein, high protein), protein source (animal, plant), and distribution channel (specialty stores, online stores, modern trade, online stores), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

Discover Additional Market Insights from Fact.MR Research:

Global Demand For Protein Supplements is expected to reach a market valuation of US$ 41.1 billion by 2033, increasing at a CAGR of 6.3% over the next ten years.

Functional Bar Market is expanding from an estimated $2.02 billion in 2024 to a colossal $3.14 billion by 2034, fueled by an impressive CAGR of 4.5%.

Microparticulated Whey Protein Market stands at US$ 350 million and is estimated to reach a market size of US$ 780 million by 2033.

Global revenue of the Sports Nutrition Market is projected to rise from US$ 25.23 Bn in 2024 to US$ 63.09 Bn by 2034 with rise in demand at a 9.6% CAGR.

Sports Supplement Market is expanding from an estimated $8.92 Bn in 2024 to a colossal $27.89 Bn by 2034, fueled by an impressive CAGR of 12.1%.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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