Global Protein Bar Market
Global Protein Bar Market By Product, By End User, By Geographic Scope And Forecast
According to Verified Market Research, the Global Protein Bar Market was valued at USD 1.18 Billion in 2018 and is projected to reach USD 1.9 Billion by 2026, growing at a CAGR of 6.23% from 2019 to 2026.
Protein bars are convenient on-the-go snacks that contain a high proportion of proteins to carbohydrates/fats. It is a primary source of proteins as well as other nutrients. Proteins offered by protein bars help in increasing protein synthesis, muscle mass and keep fat off. Proteins perform many functions in the human body including cell and tissue repair, the formation of hormones and enzymes, maintaining fluid balance along with providing energy. The source of isolated proteins in protein bars is from soy, oats, meat, and nuts, among others.
Nowadays consumers have a preference for foods with health benefits and, at the same time, convenient for consumption, storage, and handling. In this sense, ready-to-eat nutritious products, such as protein bars, are highly appreciated for their convenience. The demand for processed and convenience foods is rapidly increasing owing to the increasing awareness about the health, changing socio-economic needs, and insufficient time to cook food with the correct/ balanced amount of nutrition. This in turn, boost the market for protein bars globally.
At present, consumers are opting for weight management and energy products, such as protein bars to remain fit and healthy in their day to day life. This shift in lifestyle trend acts as driving factor for global protein bar market. On the other hand, recalling of protein bar products owing to various allergies caused by different ingredients present in its composition might hamper the market for protein bars at a global level.
The sports nutrition bars accounted for the largest market share in 2018 and is projected to grow at the highest CAGR during the forecast period. Athletes are in constant need of more energy and muscles to deliver the performance in the field. Sports nutrition bars are tailor-made for athletes. As these bars are portable and already prepared which can be consumed while they are busy on the field. These bars are rich in protein and low in carbohydrates. Thus, the growing demand of protein bars among sports athletes is expected to fuel the growth.
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