Energy Bar Global Market Report 2024

Energy bars come in various types, including protein bars, nutrition bars, cereal bars, and fiber bars. A protein bar is a nutritional supplement containing a substantial amount of protein, often sourced from whey, soy, or pea protein. These bars are available in both organic and conventional varieties and are distributed through supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and other retail channels.

The energy bar market research report provides energy bar market statistics, including energy bar industry global market size, regional shares, competitors with a energy bar market share, detailed energy bar market segments, market trends and opportunities, and any further data you may need to thrive in the energy bar industry. This energy bar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The energy bar market has grown steadily in recent years. It will grow from $4.08 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%.
The historical period's growth can be ascribed to heightened awareness of health and fitness, changes in consumer lifestyles, a surge in interest in weight management, innovation in ingredient formulations, and the demand for convenient, on-the-go nutrition.

The energy bar market is expected to see steady growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.
The anticipated growth in the forecast period is linked to the availability and accessibility of retail outlets, the emergence of plant-based and sustainable options, the incorporation of smart nutrition and functional ingredients, responses to global health challenges, and the expansion of the fitness industry. Notable trends in the forecast period encompass low sugar and natural sweeteners, the introduction of innovative flavors and textures, the adoption of sustainable packaging solutions, the provision of personalized nutrition offerings, the emphasis on snacking convenience and portability, and collaborations featuring limited editions.

The energy bar market is poised for growth due to the rising engagement in sports, health clubs, and gyms. Sports, encompassing competitive and leisure activities, and health clubs or gyms, offering diverse fitness equipment, classes, and services, are key drivers behind this trend, contributing to improved physical health and fitness. Energy bars play a vital role as a healthy source for fitness enthusiasts, aiding them in achieving their fitness objectives. In 2022, the Sports & Fitness Industry Association (SFIA), a US-based industry association, reported that 237 million US citizens participated in at least one sport, marking a 9.2% increase from 2017 and a 1.9% rise from 2021. Notably, Cardio kickboxing exhibited the highest year-on-year increase, surging by 8.5% from 2021 to 2022. This data underscores the growing trend of active participation in sports and fitness-related activities, consequently propelling the energy bar market forward.

The anticipated growth of the energy bar market is further propelled by the increasing preference for healthy snacking. Healthy snacking involves making mindful and nutritious choices for snacks between meals, aligning with the energy bar market's focus on providing consumers with convenient, nutritious, and on-the-go options. A December 2022 survey by the International Food Information Council (IFIC) revealed that 73% of people snack every day. Younger generations particularly opt for snacking for energy, ranking fruits as the healthiest option (43%), followed by dairy (28%) and nutrition bars (27%). Consequently, the escalating popularity of healthy snacking is fostering the expansion of the energy bar market.

Energy bar market is witnessing a surge in product innovations, with major companies introducing novel offerings such as the 'That's it Keto Kick coffee energy bar' to fortify their market positions. In July 2021, US-based That's It, known for healthy snacks, launched a Keto Kick coffee energy bar tailored for keto diets, featuring only six plant-based whole ingredients. With a caffeine content of 95mg sourced from Fair Trade, single-origin Ethiopian coffee beans, this snack offers a healthier and more convenient option for fulfilling the body's caffeine needs while adhering to a plant-based and ketogenic diet.

Leading players in the energy bar market are strategically diversifying their product portfolios by introducing advanced varieties, such as muesli bars, to enhance market profitability. Muesli bars are nutrient-rich snacks composed of rolled oats, nuts, seeds, dried fruits, and other wholesome ingredients. India-based Bagrrys took this approach in March 2023, launching three Mighty Muesli Bars variants, Choco Nut Delight, Signature Crunch, and Fruits, Nuts, and Seeds. Crafted from a blend of multi-grains, nuts, fruits, and honey, these bars provide a high-fiber punch for health-conscious consumers seeking innovative and nutritious snack options. The bars are available in retail packs (6 bars per variant), assorted packs (6 bars with 2 bars of each variant), and larger packs (24 bars per variant).

In August 2022, US-based snacks manufacturer Mondelez International, Inc. made an undisclosed acquisition of Clif Bar & Company, a renowned manufacturer of nutritious energy bars with organic ingredients. This strategic move not only expanded Mondelez International's snacks bar business but also broadened its customer base, aligning with the company's broader strategy to reshape its product portfolio.

Major companies operating in the energy bar market report are Lotus Bakeries NV, General Mills Inc., Clif Bar & Company, ProBar LLC, Post Holdings Inc., Bumble Bar Inc., PepsiCo Inc., Kind LLC, Kellogg Company, Wholesome Habits Private Limited, Quest Nutrition LLC, Chicago Bar Company, Abbott Nutrition Manufacturing Inc., Atlantic Gruppa d.d., Nestle SA, Atkins Nutritionals Inc., McKee Foods Corporation, The Simply Good Foods Company, The Bountiful Co., Mars Incorporated, Fullwell Mill Limited, LÄRABAR, Mediterra Inc., Brighter Foods Ltd., Health Warrior Inc., The Hershey Company, Energy Bar Foods, Superior Supplement Manufacturing,, Element Bars Inc., YouBar.

North America was the largest region in the energy bar market in 2023. Europe is expected to be the fastest-growing region in the global energy bar market during the forecast period. The regions covered in the energy bar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the energy bar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The energy bar market consists of sales of granola bars, health bars, and snack bars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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