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Market value of energy bars expected to reach US $ 1,011.2

LOS ANGELES, June 22, 2021 (GLOBE NEWSWIRE) – The Global Energy Bars Market is expected to grow at a CAGR of approximately 6.5% from 2020 to 2027 and reach a market value of over US $ 1,011.2 million by 2027.

North America is expected to hold the largest share of the world market, as it is the largest producer and consumer of energy bars. The organic energy bar market is driven by growing consumer demand for convenient and healthy energy boosting food products in the region. Growing consumer demand for sports nutrition along with product innovation by food manufacturers such as adding different flavors to energy bars is driving the growth of organic energy bars market.

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Countries like China and Australia generate the majority of revenue in the Asia-Pacific region. During the forecast period, Asia-Pacific is expected to have the highest CAGR in the organic energy bar industry. Consumers in the region are increasingly interested in organic and energy-boosting food products. Additionally, many customers prefer gluten-free products. Many food processing industries have started offering gluten-free energy bars as a result of market research. Throughout the assessment period, these factors are expected to fuel the Organic Energy Bars market.

Growth factors

The demand for flavored energy bars has grown rapidly and continues to grow at a rapid rate. The preference for fusion aroma and nutty aroma has increased dramatically in developed markets, resulting in increased demand for ethnic flavors. The growing popularity of energy foods, drinks and gels has resulted in the incorporation of more distinct flavor profiles, leading to the growth of the global energy gels market. With the emergence of modern retail formats, a new format for large-format shopping center operations in the form of food courts and specialty stores has emerged. These food courts and specialty stores provide consumers with easy access to food and drink during shopping and entertainment activities, as well as the ability to select a different product by comparing it on the spot. These improved retail formats have helped companies deliver their energy bar products to consumers more efficiently.

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The increasing complexity of healthcare and the growing number of health conscious people are expected to drive the energy bar market over the predicted years. In addition, the increasing demand for energy foods, beverages and a wide range of other products is propelling the growth of the market. In addition, the growing sports nutrition industry and the growing interest in health and wellness are expected to positively impact the growth of the market. There are certain restraints and challenges that may hinder the growth of the market. The high cost of energy bars compared to traditional snack bars is likely to stifle market growth.

Segmental overview

The global energy bars market is segmented on the basis of type, nature and distribution channel. By Type, the market is segmented into Protein Bar, Nutrition Bar, Cereal Bar, and Fiber Bar. Based on nature, the market is classified into organic and conventional. In addition, the distribution channel is separated into hypermarkets and supermarkets, convenience stores, specialty stores and online sales channel.

Some of the main competitors are PowerBar, Honey Stinger, Clif Bar & Company, Gatorade, General Mills, Inc., Humm Foods, Inc., and among others.

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Some of the major observations regarding the Energy Bars market include:

  • In April 2016, PowerBar announced the relaunch of new products and renewed packaging. Already off to a good start this year, the brand launched a new protein shake and launched a new range of protein bars with reduced sugar content. The new Simple Fruit Energy Food, a real fruit puree, will hit stores alongside sports gels in April with additional nutrient-dense foods in 2016 and beyond.
  • In May 2021, Clif Bar & Company announced the launch of a new CLIF® advertising campaign: “Let’s Move the World”. In an effort to inspire more people to move more often, “Let’s Move the World” embraces the spirit of adventure and celebrates the openness to try, the energy to do and the nutrition it takes to move the world. world.

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Richard Dement

The author Richard Dement