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The energy bar market share is expected to increase by USD 1.60 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.25%.
This energy bar market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers energy bar market segmentation by product (conventional energy bars and organic energy bars) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The energy bar market report also offers information on several market vendors, including Abbott Laboratories, Atlantic Grupa d.d, Clif Bar and Co., Eastman Chemical Co., EAT Anytime, Empact Bars LLC, Garuka Bars, General Mills Inc., Hormel Foods Corp., Kellogg Co., Lotus Bakeries NV, Mondelez International Inc., NuGo Nutrition, OTE Sports Ltd, PepsiCo Inc., Post Holdings Inc., Prinsen BV, Probar LLC, The Balance Bar Co, and Torq Performance Nutrition among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges market.
Key Energy Bar Market Driver
One of the major factors driving the energy bar market growth is the increasing demand for sports nutrition. The global sports nutrition industry is witnessing a significant growth rate owing to the expanding consumer base, which includes professional athletes and fitness enthusiasts. A balanced diet, including carbohydrates, dietary protein, dietary fat, vitamins, and minerals, fulfills the basic energy requirements of athletes. Besides the regular intake of dietary nutrients, sports supplements such as shakes, energy bars, and other drinks are consumed as a part of enriched and fortified food intake. The demographic base of the market is observing a shift from core and casual users to lifestyle users. Professional sportspersons are considered core users, while recreational athletes are considered casual users. Therefore, the increasing demand for sports nutrition is anticipated to drive the demand for energy bars during the forecast period.
Key Energy Bar Market Trend
The major market trend driving the energy bar market growth is product innovation. The energy bar market has witnessed a lot of transformational changes in terms of product innovation. Key vendors are experimenting with diverse ingredients to retain customer loyalty. Though the product was targeted at professional athletes, the consumer base has slowly started widening. Besides, innovation in the global energy bar market is influenced by several diet trends, as many consumers of energy bars often follow strict diets. As a result, new product introductions are witnessed in the energy bar market, especially in North America. Different varieties of energy bars can be produced by differentiating the base ingredients used in formulating an energy bar. Key vendors are coming up with GMO-free energy bars for health-conscious consumers across the globe. For instance, Kind LLC (Kind) has introduced the non-GMO project in a majority of its product lines, especially in the energy bars category, and the non-GMO seal appears on all of its marketing communications. All these factors will drive the global energy bar market during the forecast period.
Key Energy Bar Market Challenge
The major challenge impeding the energy bar market growth is the easy availability of substitutes. Substitutes for energy bars include different varieties of snack bars such as protein bars, cereal bars, and granola bars. Energy bars are intended to provide a quick energy boost to users. Nowadays, physical and outdoor activities are becoming popular among the younger population. They seek functional and convenient foods, especially different snack bars during travel, outdoor activities, physical activities, and sports. This consumer segment demands taste, wholesome ingredients, and organic materials in snack bars. However, energy bars are experiencing competition from substitute products in terms of ingredient composition. Energy bars have higher sugar content when compared to other snack bars. Consumers often lack product information about different energy bar brands, especially their composition. Consumers with a higher than normal body mass index (BMI) are not advised to eat energy bars for quick hunger satisfaction. Therefore, energy bars are claimed to have adverse health effects for the wrong user group. As a result, many consumers shift to other substitute products, such as granola bars and cereal bars.
This energy bar market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global energy bar market as a part of the global packaged foods and meats products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the energy bar market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the energy bar market encompasses successful business strategies deployed by the key vendors. The energy bar market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The energy bar market report contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the energy bar market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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65% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the energy bar market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for sports nutrition driven by the rising interest in health, fitness, and well-being will facilitate the energy bar market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The COVID-19 pandemic had a severely negative influence on the growth of the energy bar market in this region in 2020. As a result, retail establishments and energy bar manufacturing factories faced challenges, such as short-term cash flows, disruptions in the supply chain for production due to the unavailability of raw materials, employee health and safety concerns, and interrupted customer demand in North America in 2020. Furthermore, in order to prevent the spread of COVID-19 in 2020, several governments, including the US, Canada, and Mexico, had to impose a lockdown, forcing energy bar manufacturing plants in these regions to work with a reduced workforce or temporarily close their units in accordance with government guidelines in the first two quarters of 2020.
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The energy bar market share growth in the conventional energy bars segment will be significant during the forecast period. The increasing demand for convenient and healthy energy-boosting food options will drive the sale of the global conventional energy bar market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the energy bar market size and actionable market insights on the post-COVID-19 impact on each segment.
Energy Bar Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.25% |
Market growth 2022-2026 |
$1.60 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.8 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 65% |
Key consumer countries |
US, Canada, China, UK, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Atlantic Grupa d.d, Clif Bar and Co., Eastman Chemical Co., EAT Anytime, Empact Bars LLC, Garuka Bars, General Mills Inc., Hormel Foods Corp., Kellogg Co., Lotus Bakeries NV, Mondelez International Inc., NuGo Nutrition, OTE Sports Ltd, PepsiCo Inc., Post Holdings Inc., Prinsen BV, Probar LLC, The Balance Bar Co, and Torq Performance Nutrition |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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