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| Protein Bars Market |
Protein bars are convenient snack options that provide optimal nutrition levels. Rich in protein content, protein bars aid in muscle growth and recovery. They help sustain energy levels between meals. The increasing health consciousness among consumers is driving the demand for nutritious on-the-go snacks like protein bars.
The global
Protein Bars Market is estimated to be valued at US$ 1332.21 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Rising demand for on-the-go snacking options has been a key growth driver for
the protein bars market. Consumers have busy lifestyles and prefer snacking on
convenient food products between meals or on the move. Protein bars satisfy
hunger pangs and offer an alternative to sugary snacks. The availability of
protein bars in on-trend flavors and indulgent varieties has further boosted
their popularity with health-conscious consumers. Leading protein bar
manufacturers have responded to this trend by developing innovative products
with varied nutrient compositions, textures and flavors to appeal to a wide
consumer segment. Enhanced product offerings catering to changing consumer
preferences is expected to push the growth of the protein bars market over the
forecast period.
Segment Analysis
The global protein bars market is dominated by the standard protein bars
segment. Standard protein bars constitute around 60% of the total market share
as they are inexpensive and tasty options for people who want to snack on
protein. These bars have 12-15 grams of protein and offer a combination of
flavours like chocolate and peanut butter that appeal to most consumers. Sports
protein bars, which provide 20 grams or more of protein, hold the second
largest segment. They are preferred by fitness enthusiasts and athletes for
muscle recovery and growth.
Key Takeaways
The global Protein
Bars Market Share is expected to
witness high growth over the forecast period of 2023-2030. The global Protein
Bars Market is estimated to be valued at US$ 1332.21 Mn in 2023 and is expected
to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional
analysis - The North America region currently holds the largest share in the
protein bars market owing to factors like growing health consciousness and
awareness around fitness and nutrition among consumers. The increasing
popularity of high-protein diets and growing discretionary spending also
contribute to the high market value in North America.
Key players
- Key players operating in the protein bars market include Apogee Enterprises
Inc., Fletcher Building, Ply Gem Holdings Inc., YKK AP Inc., LIXIL Group
Corporation, Xingfa Aluminium, Sapa Group, PGT Inc., Wacang, and Fenan Group.
These companies are focusing on product innovation and expansion into new
regions to consolidate their market position.
For more insights, read- https://www.ukwebwire.com/protein-bars-market-trends-size-and-share-analysis/
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