Market Size of Saudi Arabia Protein Bar Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 2.89 Million |
Market Size (2029) | USD 4.26 Million |
CAGR (2024 - 2029) | 8.13 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Protein Bars Market Analysis
The Saudi Arabia Protein Bar Market size is estimated at USD 2.89 million in 2024, and is expected to reach USD 4.26 million by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).
COVID-19 has caused problems in the food processing industry, which have been impacted by social distance rules, labor shortages, and lockdown procedures to stop the virus from spreading. Appropriate social distancing measures may compromise operational efficiency in restricted locations, like packaging plants, and adequate staff protections are required. As the maximum amount of protein bars are imported from the United Kingdom or the United States to Saudi Arabia, the restriction in transportation led to a supply shortage of these items in retail stores. However, after the relaxation from restrictions, the increased consciousness of maintaining health and losing weight in the tough times of COVID-19 led to the increased popularity of protein bars.
The rising consumer demand for convenient and healthy on-the-go snack options has been the primary attribute for the sales of protein bars in Saudi Arabia. The changing lifestyles of people, involving the consumption of smaller meals, have been leading to increased consumption of snacks; hence, protein bars, being the healthier option, have been witnessing an increasing demand.
Protein bars have opportunities within functional ingredients, reduced sugar, high fiber, and plant proteins. The trending innovations in the category also involve modification in packaging and the launch of targeted-consumer products. People have been consuming protein bars for weight loss, wight gain, meal replacement, and muscle gain.