Nutrition bars in the market possess several key features that make them popular among consumers. Such as they offer convenience, serving as a portable and on-the-go snack option and, nutrition bars are formulated to provide a balanced combination of macronutrients, including proteins, carbohydrates, and fats, making them a convenient source of energy. Additionally, they often contain added vitamins, minerals, and antioxidants to enhance their nutritional value. Many nutrition bars cater to specific dietary preferences and restrictions, such as gluten-free, vegan, or dairy-free options. Overall, these features contribute to the appeal and versatility of nutrition bars in the market.
According to Data Bridge Market Research, the Nutritional Bar Market was valued at USD 1.30 billion in 2020 and is expected to reach the value of USD 2.48 billion by 2029, at a CAGR of 8.43% during the forecast period of 2022-2029.
“Growing prevalence of chronic diseases globally drives the market”
The rising prevalence of chronic diseases globally serves as a significant driver for the nutritional bar market. As individuals become more health-conscious and seek convenient and nutritious food options, nutritional bars offer a convenient solution. These bars are often fortified with essential vitamins, minerals, and other functional ingredients to address specific health needs. With chronic diseases such as obesity, diabetes, and cardiovascular conditions on the rise, nutritional bars cater to consumers' demand for healthier snacking alternatives. Their portable nature, long shelf life, and diverse flavor profiles make them an appealing choice for individuals seeking balanced nutrition while managing their health conditions.
What restraints the growth of the nutritional bar market?
“The fluctuation of raw material prices”
The fluctuation of raw material prices poses a significant restraint to the nutritional bar market. The prices of key ingredients, such as nuts, seeds, grains, and proteins, can be subject to volatility due to various factors like weather conditions, global demand, and supply chain disruptions. These price fluctuations impact the overall production costs of nutritional bars, potentially leading to increased prices for consumers or reduced profit margins for manufacturers. To mitigate this restraint, companies often seek alternative sourcing strategies, invest in supply chain management, and explore ingredient substitutions to maintain stable pricing and ensure profitability in the nutritional bar market.
Segmentation: Nutritional Bar Market
The nutritional bar market is segmented on the basis of type, distribution channel, and flavor.
- On the basis of types, the nutritional bar market is segmented into protein bars, meal-replacement bars, snacks bars, whole food bar, and others.
- On the basis of flavor, the nutritional bar market is segmented into chocolate, fruits, Peanut Butter, savoury, spices, and others.
- On the basis of distribution channel, the nutritional bar market is segmented into store-based, non-store based.
Regional Insights: Asia-Pacific dominates the nutritional bar market
Asia-Pacific is set to dominate the nutritional bar market, driven by rapid population growth and the presence of key market players. The region's increasing demand for nutritional bars will fuel market growth during the forecast period. With a focus on health and wellness, consumers in Asia-Pacific are increasingly adopting nutritional bars as convenient and nutritious snack options, contributing to the expansion of the regional nutritional bar market.s
The nutritional bar market in North America is projected to experience substantial growth. This growth can be attributed to the region's increasing population of health-conscious individuals who are seeking convenient and nutritious snack options. As consumers prioritize their health and wellness, the demand for nutritional bars is expected to rise, leading to further expansion of the market in North America.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-nutritional-bar-market
Recent Developments in Nutritional Bar Market
- In June 2021, RXBAR introduced a new plant-based protein bar that contains 10 grams of plant-based protein instead of their traditional egg whites. This protein bar is available for purchase on RXBAR.com and in stores like Target and Kroger.
- In 2020, Nestle launched a pea protein bar as part of its YES snack bar line. This bar is made with nuts and peas, providing 10 grams of protein. The YES snack bars are available in various flavors such as almond, peanut, double dark chocolate, cashew, blueberry, and dark chocolate.
- In 2020 Post Holdings Inc prolonged the availability of Premier Protein's snack bar in convenience stores across the United Kingdom. This strategic move aimed to enhance their market share and make the Premier Protein brand more accessible to consumers in the UK.
The Prominent Key Players Operating in the Nutritional Bar Market Include:
- Cargill Incorporated (U.S.)
- ADM (U.S.)
- Dupont (U.S.)
- Evonik (Germany)
- BASF SE(Germany)
- DSM (Netherlands)
- Ajinomoto Co., Inc. (Japan)
- Novozymes (Denmark)
- Chr. Hansen Holding A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (U.S.)
- Adisseo (France)
- Alltech (U.S.)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (U.S.)
- Novus International (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of nutritional bar market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Nutritional Bar Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
