Food Bar Market Size, Share, Trend, Global Analysis, Gross Margin, Key Players Review and Forecast to 2023
Food Bar Market Overview:
High nutritive values of Food Bar are driving the market growth for Food bar market. Food bars are emerged as a healthy, nutrient rich and on the go food in recent times and considered as heathy alternative to other snacking products. Moreover, food bars are rich in protein, sugar and carbohydrates and provides convenient form of instant energy. Moreover, food bars are coming in variety of products such as energy bars, protein bars, oats bars, nut bars, dark chocolate bars and many more. Energy bars are high in glucose, hence provide instant energy source during intense training / workout sessions. Protein rich or high protein food bars popular among consumers and widely used to fulfil protein requirements. Consumers are now becoming aware of health benefits of Food bar, driving the growth of the market. Rising consumers’ awareness supported by increasing health consciousness is supporting the growth of this market.
Food bars are available in various flavors such as chocolate, fruits, berries, nuts, peanut butter and others and hence are popular among consumers. Moreover, trend of consuming food bars as a snack is gaining popularity among consumers which will further support its market growth. However, availability of large number of snacking products may bring threat of substitution, which may hamper growth of food bar market.
Latest Industry Updates: September 2018: Mars Wrigley confectionery announces mars and snickers bars will be getting less sugar and more protein content in 2019
May-2018: Bright Foods launched bright bars, a chilled whole food bars available in Southern California
Feb-2018: PepsiCo launched a new snack bar range in three varieties
Oct-2017: PepsiCo launched a new snack bar range in three varieties
Competitive Analysis: Key players operating in Food bar market are mainly focused on acquisition and mergers to expand their business and penetrate the global market. Expansion and R & D investments are among the major strategies followed by the players. Moreover, key players are focusing on new and innovative product launches with high nutritional content to achieve maximum market share.
Some of the leading players in the global organic Food Bar Market are Atkins Nutritionals, Inc. (U.S.), Clif Bar & Company. (U.S.), General Mills Inc. (U.S.), Kellogg Co. (U.S.), Nestle (Switzerland), Quaker Oats Company (U.S.), CAVEMAN FOODS (U.S.) Mars Inc (US). among many others.
Regional Analysis: Among the regions, North America will dominate the Food bar market with the presence of major key players in the region. However, Europe holds second largest market share and is projected to have continuous growth during the forecast period. Moreover, Asia Pacific is expected to witness the highest growth rate during the forecast period 2017-2023. Rising popularity of Food bar owing to its high nutritive value and wide variety of flavors.
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