ENERGY BAR MARKET ANALYSIS

Energy Bar MarketSize and Trends

Global energy bar market was valued at US$ 3.21 Bn in 2022, and is expected to exhibit a CAGR of 5.3%, over the forecast period (2023-2030) to reach US$ 4.85 Bn by 2030.

Energy bar is a type of supplement bar that not only provides energy but also provides nutritional value as well as food benefits. Energy bars contain carbohydrates, fats, and proteins that provide instant energy and are often used as meal replacement bars. Protein and added carbohydrates in an energy bar can provide energy required to get through the process of workout or training. Post-workout nutrition is important  to build new muscle and repair any small muscle tears that occur during the workout.

Global Energy Bar Market- Trends:

• Rising demand for plant based products: Growing trend of veganism plant-based and clean label energy bars is expected to drive the market growth in the near future. According to thesurvey conducted by upermarket Chain Veganz in 2020, the vegan population in the European region has doubled to 2.6 million from 1.3 million in year 2020, which represents around 3.2% of the population. This reflects huge market opportunity and potential for plant-based energy bars. Also, the plant-based food and beverages market is growing at a rate of over 8% during the forecast period in Europe.

• Avability of snack bar for kids: Increasing availability of kid’s snacks bars is another key factor that is expected to drive  the market growth. For instance, Perfect Barlaunched Perfect Kidsas the original refrigerated kids’ snack bar at Expo East 2018, which was later made available across target stores in the U.S The snack bar boasts of clean- food credentials of USDA organic, non-GMO project-verified, and low-GI. The product has a cookie-dough- like texture and taste.