North America Energy Bar Market - Growth, Trends, and Forecasts (2023-2028)

During the time frame of the forecast, the North American energy bar market is expected to register a CAGR of 4.2%.

Growing demand for functional food, indulgence, meal replacement, and on-the-go snacking is the major factor fueling the energy bar market's growth in North America. People between the ages of 18 and 50 are more likely to eat energy bars than those 50 or older. This is because people in this age group live at a faster pace.

Further, an increased concentration of the gym-going population, which likes to maintain their health and fitness, along with a diverse population, is driving the demand for nutrition bars. Furthermore, the popularity of 'clean label' and 'free-from' products is leading the way in North America, especially in the United States, which is expected to play a major role in the energy bar market’s growth in the upcoming years. The demand for organic products is shown by new trends in the North American energy bar market.

In general, people have the tendency to consume big meals three to four times a day. This has created a negative impact on people's health. People are eating multiple smaller meals throughout the day as a result of increased awareness and a shift in eating habits. These factors have given a boost to healthy foods and the replacement of meals with energy bars. However, as the energy bars are prepared with quality ingredients packed with instant energy-providing food materials, the high cost of the raw material, processing equipment, packaging, and high profit margins result in a higher retail price of the bars, thereby restraining the market's growth.

North America Energy Bar Market Trends

Increasing Number of Health and Fitness Centers

Sports nutrition products have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape and the increasing participation in sports, health clubs, sports clubs, and gyms are some of the key drivers contributing to the growth of the North American energy bar market. Energy bars serve multiple purposes and thus appeal to a broad range of consumers, including athletes and other sports participants. In the United States, there is a growing acceptance of energy bars over energy drinks among sports participants and fitness enthusiasts, as energy bars do not contain any caffeine. Some athletes experience abdominal cramps and diarrhea related to the large intestine contractions caused by caffeine. According to the United States Bureau of Labor Statistics, the average time spent on sports, exercise, and recreation in the United States increased from 0.29 hours per day in 2018 to 0.37 hours per day in 2020. In recent years, health clubs and fitness centers have witnessed consistent growth due to increases in health concerns and changes in lifestyle. So, more people playing sports and more health and fitness clubs in the area are likely to increase the demand for energy bars in North America during the forecast period.

United States Dominates the Market Share

The United States is known for its on-the-go, fast-paced lifestyle. In such an environment, the use of quick, convenient, and portable snacks goes a long way. Moreover, with today’s consumers being more health-conscious than ever, these convenient energy bars provide the right kind of nourishment. The United States, being one of the most developed nations, demands highly convenient food owing to its rapid lifestyle. According to the United States Department of Agriculture (USDA), consumers in the United States spend more than half of their food budget on convenient foods, including snack bars, thereby driving the consumption of snack bars in the country. Protein remains one of the top ingredients in the energy bar category. While plant-based protein energy bars such as those made with peas, beans, and pumpkin seeds are on the rise, animal proteins are also being delivered in new and exciting forms in the energy bar market. Brands such as Country Archer, DNX, EPIC, and Krave have all introduced meat bars, utilizing grass-fed beef, poultry, and fish to provide high sources of on-the-go protein. Further, consumers in the country are increasingly getting engaged in sports and exercise, which in turn is driving market demand.

North America Energy Bar Market Competitor Analysis

The North American energy bar market is fragmented, and the key players include General Mills Inc., the Kellogg Company, Mars Incorporated, Probar LLC, and Mondelez International Inc., among others. The major strategies adopted by the major companies are new product development, mergers and acquisitions, and partnerships. Innovative product launches and clean-label ingredients are the various strategies adopted by these players. Private-label brands provide tough competition to the existing players with their flavored product offerings. In fact, many regional, global, and local players are offering their products through online distribution channels in order to tap the market opportunity. For instance, in August 2021, Fitsport Nutrition Foods, a Hyderabad-based company, ventured into the highly competitive energy bar market in the United States by launching its energy bars and protein bars on Amazon United States.

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