Categories: Food & Beverages

Nutritional Bars Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Nutritional Bars Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Nutritional Bars Global Market Report 2024, The nutritional bars market size has grown strongly in recent years. It will grow from $6.79 billion in 2023 to $7.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to health and fitness boom, rising awareness of healthy eating, busy lifestyles, marketing and branding strategies, variety of flavors and ingredients.

The nutritional bars market size is expected to see strong growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to customization and personalization, e-commerce growth, plant-based and clean label trends, functional ingredients and health claims. Major trends in the forecast period include texture and mouthfeel enhancement, customization and personalization, sustainable packaging initiatives, nutritional bars for specific lifestyles.

Rising demand for healthy and nutritious food products is expected to propel the growth of the nutritional bar market going forward. Healthy and nutritious food products refer to foods that provide essential nutrients, promote overall health, and support the body’s optimal functioning. Nutritional bars are often used as a healthy and nutritious food option. They are typically made with whole, natural ingredients that are good for health. It provides a good source of nutrients, has a high fiber content, and has limited added sugars. For instance, in May 2022, according to the International Probiotics Association, a US-based non-profit organization for probiotics, global probiotic consumption increased from $448 billion in 2019 to $476 billion in 2021. Therefore, the rising demand for healthy and nutritious food products is driving the growth of the nutritional bar market.

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The nutritional bars market covered in this report is segmented –

1) By Product Type: Protein Bars, Energy Bars, Meal Replacement Bars, Snack Bars, Other Products

2) By Flavors: Chocolate, Fruits, Peanut Butter, Savory, Spices, Other Flavors

3) By Category: Conventional, Gluten-Free

4) By End-User: Adults, Children

Product innovation is a key trend gaining popularity in the nutritional bar market. The major companies operating in the nutritional bar market are developing innovative products to sustain their position in the market. For Instance, in June 2022, Nourish Organic Foods Pvt. Ltd., an India-based manufacturer and seller of organic food products, launched its Nutrition Bars 2.0 with refurbished packaging. The innovative nutritional bars are made with all-natural ingredients and are a good protein, fiber, and vitamin source. They are also gluten-free, lactose-free, and vegan. This new nutrition bar 2.0 is available in six flavors. Additionally, it is made with all-natural ingredients, is gluten-free, lactose-free, and vegan, is high in protein, fiber, and vitamins, is convenient to eat, and has a slimmer and taller shape for easy portability. Moreover, these new bars are shaped slimmer and taller to easily fit into pockets, purses, and travel bags, making them an easy snack for long travels.

The nutritional bars market report table of contents includes: