Nutritional bars are handful collection of low sugar, high protein, high level of omega-3 and less additives. Increasing population of health conscious individuals is propelling the market growth of nutritional bars. Moreover, the trend of consuming nutritional bars as snacks between the meals is gaining popularity among all age groups which is driving the market of nutritional bars.
Nutritional bars are the best substitute of proper meal for individuals who require quick energy. Nutrition bar contains most of the carbohydrates such as fructose, sucrose, dextrose and others in appropriate ratios. The commonly known nutritional bars include protein bars, meal-replacement bars, snacks bars, whole food bars, and others. Moreover, in order to enhance the taste of the bars, manufacturers add various flavors to the product including chocolates, fruits, peanut butter, savory, spices and others. The high nutritional value of the product is driving the nutritional bars market.
Increasing number of working population followed by hectic lifestyle of consumers is adding fuel to the growth of the nutritional bars market. However, there are large number of product substitutes available in the market which may have a negative impact on the market growth of nutritional bars. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.9% of nutritional bars market during the forecast period 2017-2023.
Major Key Players
Some of the key players profiled in the Global Nutritional Bar Market are Kellogg Co. (U.S.), Atkins NUTRITIONALS, Inc. (U.S.), CLIF Bar & Company. (U.S.), General Mills Inc. (U.S.), Kashi Company (U.S.), Quaker Oats Company (U.S.), Mars Incorporated (U.S.)
Global Nutritional Bars Market is segmented on the basis of type such as protein bars, meal-replacement bars, snacks bars, whole food bars, and others. Among all, protein bars is dominating the market followed by meal replacement bars. Protein bars are rich in protein content which is driving the growth of this segment.
On the basis of flavors, Nutritional Bars are segmented such as chocolates, fruits, peanut butter, savory, spices and others. Chocolate flavor is dominating the market followed by peanut butter. However, fruits segments is expected to have a steady growth over the forecast period.
Based on the distribution channel, nutritional bars are segmented such as store based and non-store based. However, nutritional bars are mainly sold through grocery wholesalers, retail stores and food service providers.
The global Nutritional Bars Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market for nutritional bars and is expected to be the fastest growing market over the forecast period. In Asia Pacific, India and China are the major contributors to the nutritional bars market. Increasing health awareness among the growing population is driving the growth of nutritional bars in this market.
In North America, the U.S. holds the major share of nutritional bars market. Moreover, busy work life is driving the nutritional bars market in the European market. Additionally, continuous innovations will positively impact the market in rest of the world
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