Market Size of Asia-Pacific Protein Bar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.80 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Protein Bars Market Analysis
The Asia-Pacific protein bar market is projected to register a CAGR of 3.8% during the forecast period, 2020-2025.
- The increasing demand for convenience foods is driving the protein bar market. The major consumers not only include sports athletes, but also those who want to have a wholesome meal without the trouble of cooking. Consumers prefer buying protein bars for various purposes, such as weight management, improving muscle mass, and increasing energy. Furthermore, rising demand for free-from protein bars, such as soy-free, gluten-free, and allergen-free, among others, paired with the clean label is further driving the market growth. For instance, consumers with celiac disease are seeking for gluten-free products.
- Moreover, leading companies are adopting different strategies to compete with the other leading players, based on product offerings, ingredients, price, quality, and marketing activities. The companies are also expanding their distribution channels to maintain their positions in the market, while expanding their consumer reach within the country.
- However, inclination toward other alternative protein-rich diets and high sugar-content in the protein bars are the major factors restraining the market growth.
