North America Protein Bar Market Size
| Study Period: | 2018 - 2028 |
| CAGR: | 6.25 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Protein Bar Market Analysis
The North American protein bar market is forecast to record a CAGR of 6.25% during the forecast period 2022-2027.
During the COVID-19 pandemic, increased sales of products like snacks, bars, and other convenience foods were observed during the lockdown, which sustained the demand for protein bars in the market. As consumers’ interest in products that support the overall maintenance of health and wellness increased, the ambiguous situation across the world urged them to increase their nutritional intake and consume safer and healthier foods. Also, due to the work-from-home and stay-at-home trends, people began working out at their homes, and hence, the demand for low sugar and carb protein bars was boosted, and companies also focused on the same. For instance, in 2020, Quest Nutrition launched the product Quest snack bar to enhance its original protein bar line, which includes crunchy and indulgent bars with lesser sugar and carbs.
The major consumers include athletes and consumers 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. Sedentary lifestyles and the hectic work schedules of Americans are leading them to look for healthier alternatives present in the market. As a result, consumers are replacing conventional snacks with snack bars, including protein bars. The North American protein bar market is growing and witnessing an ever-expanding array of flavors and healthy varieties. Many consumers are reaching for protein bars to supplement their regular eating habits, while some time-pressed consumers even substitute a bar or two for a snack. Moreover, recommendations by fitness clubs of protein bars acting as a substitute for regular meals have skyrocketed the sales of these products. With an increasing number of health clubs and surging awareness about protein bars, the market is expected to witness a rise in demand during the forecast period.
North America Protein Bar Industry Segmentation
Protein bars are nutrition bars that contain a high proportion of protein to carbohydrates or fats. The North American protein bar market is segmented by distributional channels into hypermarkets/supermarkets, convenience stores, online channels, specialty retailers, and other distribution channels. Further, the study covers the country-level analysis of the major countries, so, by geography, the market is segmented into the United States, Canada, Mexico, and Rest of North America. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Conventional Stores | |
| Online Channels | |
| Specialty Retailers | |
| Other Distribution Channels |
| By Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Protein Bar Market Trends
This section covers the major market trends shaping the North America Protein Bar Market according to our research experts:
Evolving Fitness Trends in the Region Boosting Demand For Protein-rich Diets
The evolving fitness trend in the region is expected to boost the growth of associated markets, including protein bars. Moreover, developed countries like the United States have experienced a considerable increase in the number of consumers opting for fitness and health clubs who are progressively becoming the target consumer of the market. Since protein is an important element that supports fitness, consumers are opting for weight management and energy products, such as protein bars to remain fit and healthy. Consumers are opting for weight management and energy products, such as protein bars to remain fit and healthy. Owing to their high nutrition levels, protein bars are gaining prominence among health-conscious consumers. Additionally, these nutritious products can provide the ideal protein balance required for a healthy lifestyle. Moreover, supplementing meals with bars is expected to increase protein intake without adding unnecessary calories or carbohydrates. Fitness awareness augments the demand for protein bars as they play a major role in providing essential nutrients and proteins, increasing energy levels, and enhancing muscle mass.
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United States Accounts for the Largest Market Share
The US protein bar market benefits from the diversified retail distribution channel, which encourages both planned and impulse purchases. Moreover, retailers are expected to drive the market’s growth. According to the International Food Information Council Foundation’s Annual Food and Health Survey, around 73% of US consumers consider plant protein as a healthy product. Thus, in the United States, plant-based protein bars are witnessing high demand. US consumers buy the majority of protein bars from supermarkets/hypermarkets, warehouse clubs, convenience stores, and dollar stores. Pea protein provides a better solution to consumers looking for plant-based protein alternatives. In the country, the demand for high-quality, high-protein, organic label, and healthy food products has increased significantly.
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North America Protein Bar Industry Overview
The North American protein bar market is highly fragmented due to the presence of a large number of prominent players. Major players include General Mills Inc., Kellogg Company, Caveman Foods LLC, Danone, Mars Incorporated, Premier Nutrition Corporation, Abbott Nutrition Manufacturing Inc., Post Holding Inc., and Atkins Nutritionals Inc., among others. The major key players are employing strategies like business expansions, product innovation, and mergers and acquisitions to expand their regional presence.
North America Protein Bar Market Leaders
General Mills Inc.
Kellogg Co.
Caveman Foods LLC
MARS Incorporated
Premier Nutrition Corporation
*Disclaimer: Major Players sorted in no particular order
North America Protein Bar Market News
· In 2021, GenTech Holdings Inc., an emerging player in the high-end premium coffee and functional foods categories, reached an agreement to acquire NxtBar LLC, a Charlotte, NC-based maker of paleo- and keto-friendly nutrition bars in Wheat Ridge, Colorado, United States.
· In 2021, plant-based food maker Tattooed Chef completed the acquisition of Belmont Confections Inc., a private label co-manufacturer of snack bars, for approximately USD 18 million in cash in Paramount, California.
· In 2020, Quest Nutrition launched the Quest snack bar to enhance its original protein bar line, which includes crunchy and indulgent bars with less sugar and carbs in Los Angeles
North America Protein 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
3.1 Market Overview
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
5.1.1 Hypermarkets/Supermarkets
5.1.2 Conventional Stores
5.1.3 Online Channels
5.1.4 Specialty Retailers
5.1.5 Other Distribution Channels
5.2 By Geography
5.2.1 United States
5.2.2 Canada
5.2.3 Mexico
5.2.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 General Mills Inc.
6.4.2 Kellogg Company
6.4.3 Caveman Foods LLC
6.4.4 Mars Incorporated
6.4.5 Premier Nutrition Corporation
6.4.6 Abbott Nutrition Manufacturing Inc.
6.4.7 Post Holdings Inc.
6.4.8 Atkins Nutritionals Inc.
6.4.9 Quest Nutrition LLC
6.4.10 Hormel Foods Corporation
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
North America Protein Bar Market Research FAQs
What is the study period of this market?
The North America Protein Bar Market is studied from 2018 - 2028.
What is the growth rate of North America Protein Bar Market?
The North America Protein Bar Market is growing at a CAGR of 6.25% over the next 5 years.
Who are the key players in North America Protein Bar Market?
General Mills Inc., Kellogg Co., Caveman Foods LLC, MARS Incorporated, Premier Nutrition Corporation are the major companies operating in North America Protein Bar Market.
North America Protein Bar Industry Report
Statistics for the 2023 North America Protein Bar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Protein Bar analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
