Energy Bar Industry Overview
| Study Period: | 2017-2027 |
| Fastest Growing Market: | South America |
| Largest Market: | North America |
| CAGR: | 3.32 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Energy Bar Market Analysis
The Energy Bar Market is projected to register a CAGR of 3.32% over the upcoming five years.
Sports nutrition bars have gained popularity, majorly among athletes and individuals engaging in physical activities. The rising fitness awareness and staying healthy is increasing participation in sports, health and sports clubs, and gyms, which is one of the key drivers contributing to the growth of the energy bars market. Energy bars have also found high popularity in the sports nutrition market as sports activities involve lots of energy breakdown. Energy bars are convenient and efficient for supplying instant energy to athletes. Hence, the demand for these products is gaining traction among athletes.
The consumer demand for convenient and healthy on-the-go snack options is the primary driving factor for the sales of energy bars globally. Due to their small packaging and high energy content, they are the ideal solution for adults who need instant results. They also contain proteins, other nutrients, and micronutrients as per daily requirements. Thus, they pack a balanced diet in small quantities. Furthermore, the increasing demand for energy bars for different consumers' needs led to various product innovations and increased healthy ingredients used.
Energy bars packaging also plays a crucial role in attracting customers and building companies' brand image. For example, in May 2022, Kellogg's collaborated with design firm Landor & Fitch to develop a new packaging system that complemented the brand's current offerings. The new packaging was rolled out in regions such as the United Kingdom, Ireland, Benelux, France, Italy, Portugal, Spain, the Middle East, and North Africa. Furthermore, innovating and labeling the products with popular food trends, such as gluten-free, vegan, low fat, low calories, no added sugars, and sweeteners, are further propelling the market growth by attracting various customers.
Energy Bar Industry Segments
An energy bar is a healthy snack with nutritional ingredients that boost energy and endurance. The energy bar market is segmented by type, distribution channel, and geography. Based on type, the market studied is segmented into organic and conventional. The market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, specialty stores, online retail stores, and other distribution channels. The report also analyzes the market studied in emerging and established regions, including North America, Europe, South America, Asia-Pacific, Middle-East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
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| Convenience Stores | |
| Specialty Stores | |
| Online Retail Stores | |
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Energy Bar Market Trends
This section covers the major market trends shaping the Energy Bar Market according to our research experts:
Rising Demand for Healthy On-the-go Snacking
Globally, the convenience food demand is growing faster due to changes in social and economic patterns, increased expenditure on food and beverage, awareness about healthy foods, changes in meal patterns and existing food habits, and the desire to taste new products. According to the International Food Information Council report on food & health survey, the proportion of American consumers who actively looked for health benefits in their food in 2021 was 20%.
On-the-go snacking is becoming extremely popular, especially among the working-class population, teenage children, people living in hostels, and bachelors due to their hectic lifestyles. Moreover, the on-the-go snacking concept is closely associated with energy bars' easy consumption and product handling. Energy bars, packed into small quantities with high amounts of instant energy and all the daily essential nutrients and micronutrients, are widely available. It is also widely adopted, thus, propelling the market growth. Keeping the consumers' demand for healthy on-the-go snacking, companies have been innovating snack bars, including energy bars, to take advantage of the new opportunities in the market studied.
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North America to Dominate the Market
In North America, consumers in the US, one of the most developed nations, demand highly convenient food owing to their fast-paced lifestyles. According to the US Department of Agriculture (USDA), as of 2021, consumers in the US spend more than half of their food budget on convenient foods, including energy bars, thus, driving the consumption of energy bars in the country. Moreover, manufacturers are focusing on the region's health and wellness trends, targeting young consumers and the working population. The changing lifestyles of consumers, resulting in their consumption of smaller meals, are further leading to the increased consumption of healthy snacks, expected to propel the demand for energy bars. With consumers increasing their spending on packaged foods and having no time to prepare meals, people are turning toward convenience foods, like energy bars, for their energy requirements on the go.
Moreover, product launches with various label claims, such as "no artificial additive," "high or added fiber," and "reduced sugar," achieved strong growth in the past few years. Expensive brands offering products with natural and organic ingredients are expected to increase energy bars' sales in North America.
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Energy Bar Market Competitor Analysis
The global energy bar market is highly fragmented and competitive, with various international and regional players. Major players in the market include Kellogg’s, General Mills Inc., Mondelēz International, Inc. (Clif Bar & Company), Mars Incorporated, and Lotus Bakeries, among others. The major players in the market studied have been focusing on strategies like product innovation, mergers, acquisitions, and geographic expansions, to establish a strong consumer base and esteemed position in the market. Among strategies, prominent players in the global energy bar market prefer product innovation the most, with key players investing heavily in research and development, incorporating organic/vegan ingredients to roll out innovative flavors and packaging, and positioning them as clean-label products.
Energy Bar Market Top Players
The Kellogg Company
General Mills Inc.
Lotus Bakeries Corporate
Mars, Incorporated (Kind LLC)
Mondelēz International, Inc. (Clif Bar & Company)
*Disclaimer: Major Players sorted in no particular order
Energy Bar Market Recent Developments
- August 2022: Clif Bar & Company, which offers a range of energy bars, was acquired by Mondelez International, Inc. With leading brands like CLIF, CLIF Kid, and LUNA complementing the company's refrigerated snacking business in the United States and popular performance nutrition business Grenade in the United Kingdom, the acquisition is anticipated to increase Mondelez International's global snack bar business to more than USD 1 billion.
- August 2021: General Mills, Inc launched Performance Protein bars from Cinnamon Toast Crunch and Golden Grahams brands. These bars contain less sugar and provide up to 20 g of protein in around 63 g of bar weight.
- April 2021: Kellogg India targeted the 'In-between meal' segment. Therefore owing to this factor, they launched the K Energy bars to enter this category.
Energy Bar Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Organic
5.1.2 Conventional
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Kellogg Company
6.3.2 Lotus Bakeries Corporate
6.3.3 General Mills Inc.
6.3.4 Mondelēz International, Inc. (Clif Bar & Company)
6.3.5 OTE Sports Ltd
6.3.6 Post Holdings Inc.
6.3.7 Mars, Incorporated (Kind LLC)
6.3.8 PepsiCo Inc.
6.3.9 Wholesome Habits Private Limited (EAT Anytime)
6.3.10 ProBar LLC
6.3.11 Nestlé S.A.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Energy Bar Market Research FAQs
What is the study period of this market?
The Energy Bar Market market is studied from 2017 - 2027.
What is the growth rate of Energy Bar Market?
The Energy Bar Market is growing at a CAGR of 3.32% over the next 5 years.
Which region has highest growth rate in Energy Bar Market?
South America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Energy Bar Market?
North America holds highest share in 2021.
Who are the key players in Energy Bar Market?
The Kellogg Company, General Mills Inc., Lotus Bakeries Corporate, Mars, Incorporated (Kind LLC), Mondelēz International, Inc. (Clif Bar & Company) are the major companies operating in Energy Bar Market.
Energy Bar Industry Reports
In-depth industry statistics and market share insights of the Energy Bar sector for 2020, 2021, and 2022. The Energy Bar research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Energy Bar report PDF.
