Energy bars are nutritious bars which contain cereals and other high-energy providing foodstuffs such as nuts and dry fruits. Energy bars are also known as supplement bars which provide quick energy to the body as it contains the high amount of protein, carbohydrates and is fortified with minerals and vitamins. Energy bars come in various flavors and serves as a satisfying as satisfying snacks. The energy bar basically contains food energy and does not contain caffeine. A typical energy bar weighs between 50-85 grams and offers about 250 to 300 calorie. The fat content in energy bar is usually kept very low, the source of fat is often dark chocolate and cocoa butter. At times energy bar contains erythritol or maltitol, a sugar alcohol which helps in lowering the sugar content from the bar.
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Energy bar market is segmented on the basis of nature, distribution channel, flavors, and region. On the basis of nature, the market is segmented into organic and conventional. On the basis of a distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, medical stores and online store. Supermarkets/Hypermarkets is expected to hold a relatively high share in the energy bars market. Online stores have also contributed significantly to the growth of energy bar market over the forecast period. On the basis of flavors, the market is segmented into fruit flavor, chocolate flavor, nut flavor, and mixed flavors. Among all these segments mixed flavor or can say fusion flavor is expected to grow enormously in the coming future, followed by nuts flavor segment. The demand for energy bars product is more due to the benefit it offers as well as ease of availability of the product in the market. On the basis of region, energy bars Market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, MEA, and Japan.
Market Regional Outlook:
A regional segment for the market of energy bars is divided into seven different regions: North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, Japan, and MEA. Among these segments, North America is expected to have the major market share globally, as it is the largest producer and consumer of energy bars products. In Asia Pacific region the countries like China and Australia are generating the major revenue. While APEJ region is estimated to account the highest CAGR, owing to a larger consumer base, combined with a higher number of retail outlets than any other region. The Latin America market is expected to grow significantly over the forecast period, but are anticipated to account for a lower growth rate than the APEJ region, owing to a greater number of emerging economies in APEJ.
The demand for flavored energy bar has increased rapidly and continues to increase at a significant rate. In developed markets, preference for fusion flavor, and nut flavor has grown significantly, leading to higher demand for ethnic flavoring. Addition of caramel and exotic flavors to existing product lines continues to be one of the key strategies adopted by global manufacturers to attract consumers’ attention in more mature markets of the U.S. and Canada. Growing prevalence for energy food, drinks and gels have led to the incorporation of more striking flavor profiles, thereby driving the growth of the market for energy gel globally. With the emergence of modern retail formats, a new format for operations in the form of food courts and specialty stores in large format malls has emerged. These food courts and specialty stores offer consumers easy access to food and beverage at the time of shopping and entertainment activities and also offer a choice of selecting the different product by comparing it then and there. These improved retail formats have helped companies to offer its energy bar products to the consumers in a better way. Consumers can now easily select their desired product in varieties, which are made available in stores in such malls. Spending on R&D is increasing as global manufacturers are now facing competition from the regional players.
kThe pace at which new technologies are impacting the food sector is high, and it has become necessary for manufacturers to increase the scale of their R&D efforts. More sports nutrition manufacturing companies are shifting their R&D activities away from their headquarters. Asia remains the preferred destination for setting up R&D facilities, representing a gradual shift in the industry’s center of influence. It is expected that focus on R&D will increase over the forecast period, as companies are expected to offer products that are better than its rivals. Manufacturers will also be focusing on positioning their brands better to improve its sales.
Market Key Players:
Some of the key players in energy bars Market are PowerBar, Inc., EN-R-G Foods Inc., Clif Bar & Company, The Gatorade Company, Inc., General Mills, Inc. (Nature Valley), Humm Foods, Inc. among others.
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