Plant-based Bars Market to Grow with a CAGR of 6.95% through 2028
Rising health and wellness awareness and growing
concern of environmental sustainability are factors driving the Global
Plant-based Bars Market in the forecast period 2024-2028.
According to TechSci Research report, “Plant-based
Bars Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Plant-based Bars Market stood at USD
2.54 billion in 2022 and is anticipated to grow with a CAGR of 6.95% in the
forecast period, 2024-2028. The global plant-based bars market has emerged as a
dynamic and thriving segment of the broader health and wellness industry. This
market's growth is fueled by a convergence of factors that resonate with evolving
consumer preferences, including a focus on healthier eating, sustainability,
and convenience. As health-conscious consumers increasingly prioritize
nutritional value, plant-based bars offer a convenient solution. These bars are
often formulated with nutrient-dense ingredients such as nuts, seeds, fruits,
and whole grains, delivering a balanced profile of macronutrients and essential
vitamins and minerals. In response to rising concerns about obesity, diabetes,
and heart disease, consumers are seeking snacks that provide sustained energy
without compromising their dietary goals. Plant-based bars, with their emphasis
on clean ingredients and often reduced sugar content, align with these preferences,
and cater to a wide range of dietary needs, including vegetarian, vegan, and
gluten-free Sustainability concerns are also propelling the growth of the
plant-based bars market. With increasing awareness of the environmental impact
of animal agriculture, consumers are turning to plant-based options that offer
a lower carbon footprint. The plant-based bars market benefits from this trend,
as these products utilize ingredients that require fewer natural resources and
emit fewer greenhouse gases compared to animal-derived alternatives. As
consumers seek ways to align their food choices with their values, plant-based
bars are positioned as an eco-friendly option, further contributing to their
appeal. The rise of flexitarianism, a dietary approach that
prioritizes plant-based foods while allowing occasional animal product
consumption, has significantly influenced the plant-based bars market.
Flexitarians are driving demand for versatile snacks that align with their
flexible dietary choices. Plant-based bars provide a solution, offering a
convenient and satisfying option for those looking to incorporate more
plant-based foods into their diets without eliminating animal products. This
trend underscores the versatility of plant-based bars as they cater to a broad
spectrum of dietary preferences and evolving eating patterns.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Plant-based Bars Market.”
In response to past criticisms of taste and texture,
manufacturers within the plant-based bars market have focused on product
innovation. The latest advancements in food technology have led to improved
taste profiles and more appealing textures. Brands are exploring natural flavor
enhancers, innovative ingredient combinations, and improved processing
techniques to create plant-based bars that not only deliver on nutrition but
also provide an enjoyable eating experience. This focus on taste and texture is
a crucial driver in expanding the consumer base for plant-based bars,
attracting individuals who might have been hesitant to try such products in the
past.
While the plant-based bars market presents numerous
growth opportunities, it is not without its challenges. Ingredient sourcing and
supply chain complexities can disrupt the availability of key components,
affecting product consistency and quality. Additionally, maintaining uniform
flavor and texture across batches remains a challenge due to variations in
ingredients and processing methods. Furthermore, price competitiveness is a
concern as the production of high-quality plant-based bars can lead to higher manufacturing
costs. Striking a balance between affordability and premium quality while
addressing these challenges is essential for sustained market growth. In
conclusion, the global plant-based bars market is a dynamic landscape
characterized by strong consumer demand driven by health awareness,
sustainability concerns, and evolving dietary preferences. As manufacturers
innovate to address these trends, the market is positioned for continued
growth. The diverse range of flavors, ingredients, and nutritional profiles
offered by plant-based bars caters to a wide spectrum of consumers, making them
a compelling choice for health-conscious individuals seeking convenient,
eco-friendly, and enjoyable snacks. The challenges within the market provide
opportunities for industry players to demonstrate resilience and creativity,
further propelling the growth and evolution of the plant-based bars market in
the years to come.
The Global Plant-based Bars Market is segmented into product
type, nature, distribution channel, regional distribution, and company.
Based on product type the market is
segmented into protein bars, granola/cereal bars and others. The global plant-based
bars market is experiencing a rising demand for protein bars. Consumers are increasingly
seeking protein-packed snacks to support their active lifestyles and dietary
goals. Plant-based protein bars offer a convenient and nutritious solution,
catering to a range of dietary preferences including vegan and vegetarian
diets. As health-conscious individuals prioritize protein intake, the demand
for plant-based protein bars continues to grow, contributing to the expansion
of the global plant-based bars market.
Based on nature the market is segmented into organic,
conventional.
Organic plant-based bars are witnessing
a surge in demand within the global market. Health-conscious consumers are
seeking snacks that align with their values of clean eating and sustainability.
Organic plant-based bars, made from natural ingredients grown without synthetic
pesticides or fertilizers, meet these criteria. The growing awareness of the
potential health and environmental benefits of organic products is driving this
demand. As consumers prioritize both health and ethical considerations, the demand
for organic plant-based bars is on the rise globally.
Based on distribution channel the market
is segmented into online and offline.
Based on region the market is segmented
into five regions, Europe, North America, Asia Pacific, Middle East & Africa,
and South America.
Major companies operating in Global Plant-based
Bars Market are:
- Kellogg's
- Greens Gone Wild, LLC.
- GNC Holdings, LLC
- Rise Bar
- MadeGood
- Växa Bars
- Clif Bar & Company
- General Mills Inc. (LÄRABAR)
- 88 ACRES
- GoMacro, LLC.
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“Advancement in food technology is a significant trend
that is expected to have an impact on growth over the forecasted period. Rising
health consciousness, growing concern for environmental sustainability, and availability
of functional ingredients will positively impact the Global Plant-based Bars
Market. Due to the wide range of products available to meet specific needs of,
as well as the growing popularity of the online distribution channel, the
market is growing at impressive rate through projected period,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Plant-based Bars Market By Product Type (Protein
Bars, Granola/Cereal Bars and Others), By Nature (Organic, Conventional), By
Distribution Channel (Online, Offline), By Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Plant-based Bars Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Plant-based
Bars Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel:
+13322586602
Email:
[email protected]
Website:
www.techsciresearch.com