Protein Bars Market Analysis by Type and Users, Industry Growth Factors and Business Forecast 2018 to 2023

Protein Bars Market Global Research Report by Source (Plant and Animal Protein), Flavor (Chocolates, Fruits, Peanut Butter, Savory, Spices and others), Distribution Channel (Store Based and Non-Store Based) and Region – Forecast till 2023

pune, India - September 11, 2018 /MarketersMedia/ —

Market Overview:
Growing health conscious population inclined towards intake of healthy food during their hectic schedule is driving the growth of protein bars market.

Protein bars are nutritional bars and are high in protein content. They are a healthy option to substitute meal. Mainly protein bars are fortified with a range of vitamins and minerals for which their nutritional value is high. Also, protein bars are an effective way to reduce cravings and avert constant snacking. They are available in wide range in the market with different flavors such as chocolates, fruits, peanut butter, savory, spices, and others.

Protein bars are a source of meal substitute for individuals who require quick energy in their busy schedule. The high protein content in the protein bars is mainly driving the growth of the market. Also, increase in the number of working population coupled with the hectic lifestyle of consumers has opened doors for protein bars market. It is a better alternative for working population who find it difficult to spare some time for proper meal. Moreover, rising number of health-conscious population followed by increasing disposable income is positively influencing the protein bars market globally. Additionally, protein bars are gaining traction in developed countries owing to the growing trend of health and fitness.

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Major Key Players Analysis:
The key players of protein bars market are looking for acquisitions and expansions. Geographical expansions coupled with new product launches are among the major key developments in this market. Companies are going for acquisition of small companies to expand their product portfolio along with increasing their geographical presence. Moreover, the key players are highly competitive in launching new products prepared from healthy ingredients and satisfying changing consumer preferences. 

The key players profiled in protein bars are as Atkins Nutritionals, Inc. (U.S.), Clif Bar & Company. (U.S.), General Mills Inc. (U.S.), Kellogg Co. (U.S.), Premier Nutrition (U.S.), Lenny & Larry's Incorporated (U.S.), Mars Incorporated (U.S.), Quest Nutrition (U.S.), Caveman Foods LLC (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.) and many more.

Latest Industry Updates:
March 2018 Madison has undergone new partnership with Nestle to distribute their Yorkie Protein bars within U.K and Ireland

March 2018 One Brand has launched new range of protein bars named One Basix Bars. They are available in three different flavors

March 2018 Aspire Foods Group acquired Exo, a company who manufactures protein bars from crickets

October 2017 Kellogg bought RXBAR protein bars owner at $600 million

Market Segments:
The global protein bars market has been divided into source, flavor, distribution channel and region.

On The Basis of Source: plant protein and animal protein

On The Basis of Flavor: chocolates, fruits, peanut butter, savory, spices, and others

On The Basis of Distribution Channel: Store Based and Non-Store Based

On The Basis of Region: North America, Europe, Asia Pacific and ROW.

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Regional Analysis:
Protein bars market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America dominated the protein bars market followed by Europe. Presence of key players in the U.S. coupled with new product launches is driving the market for protein bars in North America. Also, rising inclination towards portable convenience foods among the U.S. population is boosting the growth of the market. Moreover, continuous increase in working population in Europe followed by increasing demand for functional foods is positively affecting the protein bars market in this region.

Asia Pacific is expected to be the fastest growing region for protein bars in which Japan and China are anticipated to be the major contributors. Moreover, India is also witnessed to have a steady growth over the coming years followed by Australia. Based on the increasing trend of health and fitness, protein bars are projected to grow rapidly over the rest of the world.

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Release ID: 405900