Protein bars contain high amount of protein in them are mostly favored by the people who needs protein as supplement. It also provides additional nutrients and the protein used in the production of protein bars is extracted from animal or plant origin. Protein bars boosts immunity, rebuilds damaged tissues, helps repair wounds, and maintains muscle mass.
Surge in demand for convenience food among people and availability of gluten free & reduced allergen protein bars are the vital factors driving the global protein bars market. Leaning trend towards healthy and fit lifestyle is the other factor positively influencing the market growth. Constant marketing campaigns and advertisements is expected to boost the market growth during the forecast period 2019–2026.
However, higher prices and tough competition by cereal bars as a substitute are the major factors which may restrain the market growth. Some of the other factors hampering the market growth are lack of taste, high sugar content, and side effects related to high protein intake on the body.
The global protein bars market is segmented on the basis of protein content, product type, protein source type, and region.
Based on protein content, the global protein bars market is segmented into low protein (0-15 gm), medium protein (16 gm - 25 gm), and high protein (Above 25 gm). Medium protein bar is expected to grow at high pace during the forecast period 2019–2026.
Based on product type, the market is segregated into energy protein bars, women's protein bar, meal replacement bars, low-carb protein bars, and others.
Based on protein source type, the market is segmented into plant protein and animal protein. Amongst protein source type, plant protein segment is expected to experience significant growth owing to the high number of vegan population across the globe.
In terms of region, the global protein bars market is segregated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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North America dominates the global protein bars market owing to the high awareness regarding healthy and fit life among people. Other factors boosting the market growth are presence of major players in the region and rising demand for healthy and convenience food due to fast and hectic work life.
Europe accounts for significant share of the global protein bars market. High number of health conscious people and leaning trend towards healthy and fit life are some of the vital factors driving the Europe protein bars market.
Asia Pacific is the fastest growing protein bars market owing to the huge population base and rising awareness regarding protein bars among people. Other factors supporting the market growth are wide consumer base especially in the Southeast Asian countries.
Some of the major players in the market are The Kellogg Company, Abbott Laboratories, General Mills, Inc., Mars, Inc., Groupe Danone, Hormel Foods Corporation, The Whitewave Foods Company, Small Planet Foods, Inc., Universal Nutrition Corp., Premier Nutrition Corporation, Quest Nutrition, Llc, Active Nutrition International GmbH, and Musclepharm.
Protein Bars Market Segmentation
By Protein Content
By Product Type
By Protein Source Type