|Study Period:||2016 -2027|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The India's energy bar market is forecasted to grow at a CAGR of around 8% during the forecast period ( 2022-2027).
During the pandemic of Covid-19 India's energy and protein bar firms started expanding their business into online channels and exporting to different countries. Fit sport nutrition foods, a Hyderabad-based company specializing in energy and protein bars, has ventured into the highly competitive US market with a bigger bar via a listing on Amazon. During the pandemic, people shifted to a healthier and fitness freak life which gave rise to the demand for the gym-goers.
Consumer demand for convenient and healthy on-the-go snack options has by far been the primary attribute for sales of energy bars in the country. Increasing health-consciousness, active lifestyles, and awareness about the benefits of consumption of smaller meals are further leading to the increased consumption of snacks, which is expected to drive the demand for energy bars. Increasing sports participation and the increasing gym-going population are expected to further propel the growth of energy bars. However, energy bars in India are perceived to be high-priced in comparison with regular snack bars. This has provided an opportunity for Indian players such as Patanjali to come up with energy bars that are offered at a lower price.
Scope of the Report
Energy bars are known to be a bar-shaped food which contain almost all minimal nutrition that the body requires to produce and boost up energy. It is made with whole grains, nuts, and seeds. These comprise carbs which breaks down into sugar providing energy to the body. India's energy bar market is segmented by distribution channels such as supermarkets/hypermarkets, convenience stores, pharmacies & drug stores, online retail stores, and other distribution channels. The other distribution channels include specialty stores and vending machines. The report offers market size and forecasts for energy bar in Value (USD million) for all the above segments.
|By Distribution Channel|
|Pharmacies And Drug Stores|
|Online Retail Stores|
|Other Distribution Channels|
Key Market Trends
Preference for Healthy Snacking
Consumer demand for healthier snacking alternatives and nutritious foods has driven the market for energy bars. Also, with the rise in demand for fortified food, fortified energy bars with high protein content are in demand. Health awareness has led Indian consumers to include fruit and vegetable-derived ingredients in their dietary habits, which has driven the demand for healthy snacks. Indian customers are also willing to pay extra for healthy snacks considering COVID 19 and taking health and immunity boost as a priority. This has led key players in the snack bar and energy bars markets to come up with newer and healthier market offerings. With an increase in health consciousness and a rise in per-capita expenditure toward premium food, the market for energy bars in India is forecasted to grow at an increasing rate.
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Increasing Number of Health and Fitness Center
Energy bars have found high levels of popularity in the sports nutrition market as sports activities involve lots of energy breakdown, and energy bars are a convenient and efficient option for the supply of instant energy to athletes. In recent years health clubs and fitness centers have witnessed consistent growth due to an increase in health concerns and lifestyle changes. A surge in the number of the middle-aged and geriatric population engaged in sports activities has further fueled sales of the energy bar market, The increasing number of health and fitness center has been positively influencing the growth of the energy bar market as these centers have been involved in the endorsement of sports and fitness nutrition products to their respective consumers. The demand for energy bars is also increasing due to linked convenience of consumption which is aided by disposable packaging that prevents the bar from touching hands directly, thus keeping the bar and the hand both clean.
The most active companies in the Indian energy bar market include Unibic, Yoga Bar, General Mills, HealthKart, and Eat Anytime, which hold a significant market share. Manufacturers are incorporating measures to increase their product visibility in the retail shelf, by expanding their distribution channel and adopting innovative marketing strategies. Some of the players have positioned and marketed specific bars with particular ingredients/health benefits targeting a specific gender. This strategy of launching target-oriented products gives the feeling of personalization to consumers, as they could be specifically created for their needs.
- In February 2022, the Yoga bar brand extended its product category into kids' nutrition with the launch of new mixes 'Yo Chos' and 'Yo Fills'.
- In January 2021, Clif Bar & company launched a new thin and crispy energy snack bar called CLIF BAR thins. These come in three flavors, i.e..,chocolate chip, chocolate peanut brownie, and white chocolate macadamia nut. The product contains 100 calories, 5 g of sugar, and plant-based organic ingredients like rolled oats.
- In November 2019, PROBAR LLC introduced two new PROBAR Meal Bar flavors, blueberry muffin, and s'mores. These new additions include at least 9g of protein per serve, are 100% plant-based, gluten-free, and made from whole superfoods.
Table of Contents
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 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Distribution Channel
5.1.2 Convenience Stores
5.1.3 Pharmacies And Drug Stores
5.1.4 Online Retail Stores
5.1.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Sproutlife foods
6.4.2 General Mills Inc.
6.4.3 EAT Anytime
6.4.4 THWN Wellness Pvt Ltd.
6.4.5 UNIBIC Foods India Pvt. Ltd.
6.4.7 Mojo Bar
6.4.8 The Whole Truth
6.4.9 Monsoon Harvest
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID 19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The India Energy Bar Market market is studied from 2016 - 2027.
What is the growth rate of India Energy Bar Market?
The India Energy Bar Market is growing at a CAGR of 8% over the next 5 years.
Who are the key players in India Energy Bar Market?
General Mills, EAT Anytime, Health Kart, Unibic, Sproutlife foods are the major companies operating in India Energy Bar Market.