The global protein bar market has been growing rapidly on account of several factors in its favor – primarily the increased preference among consumers for portable convenience foods. It is not just sportspersons but also individuals who either cannot or do not have the time to cook their own food demanding protein bars. Protein bars have the added advantage of being nutritious and wholesome and they increase energy levels and boost muscle mass. There seems to be a high demand for taste innovations in the protein bar market as the consumer base has diversified immensely. This has spurred new players to enter the protein bar market with all guns blazing. The protein bar market is expected to record a robust CAGR of 7.8% for the period from 2017-2022.
High Protein Bars the Way to Success in the Protein Bar Market
High protein bars have a revenue share greater than two-fifth in the protein bar market by product segment and are expected to gain share over the forecast period. The high protein bar segment is predicted to be worth more than US$ 630 million by end 2022, making it imperative for protein bar manufacturers to change their product mix accordingly. The low protein segment is the second most popular with a revenue share slightly over a third in the protein bar market in 2017. Companies specializing in low protein bars would do well to target North America as consumers in this region seem to have a strong desire for this protein bar segment.
Focus on Specialty Stores and Modern Trade in the Protein Bar Market
The specialty stores and modern trade segment have a revenue share exceeding half the protein bar market between them and protein bar companies are recommended to take this into account while devising their distribution strategies. The modern trade segment is anticipated to record a robust CAGR of more than 7.5% for the study period. The modern trade segment is particularly well-developed in North America and Europe and these regions are unlikely to cede their commanding positions to APEJ anytime soon. Specialty stores have the highest potential in the APEJ region as the CAGR is projected to be the most in this populous continent.
Online Stores a Niche in the Protein Bar Market
Online stores are still a comparative niche in the protein bar market, especially when compared to modern trade and specialty store distribution channels. However, better Internet infrastructure in emerging economies as a result of reducing smartphone prices and widely available 4G LTE infrastructure should make consumers opt for online shopping portals. North America and APEJ are the two regions to look out for in the online store segment of the protein bar market as both have highly tech-savvy citizens that are willing to try out the latest technology.
Competition Dashboard in the Protein Bar Market
Persistence Market has profiled some of the companies involved in the protein bar market. The companies include The WhiteWave Foods Co., Premier Nutrition Corporation, Kellogg Co., General Mills, Amway Corporation, Abbott Laboratories, GlaxoSmithKline Plc., GNC Holdings, Glanbia Plc., and Vitaco Health Group Limited.
A fast-paced lifestyle in the 21st century has left most people with little time to breathe, let alone eat at their own leisure. This has led to people increasingly seeking out ‘portable convenience foods’. The protein bar market has shown rapid growth as it is aided by an increased desire among consumers as it serves not only sports athletes but also individuals who look for wholesome foodstuffs that do not require to be cooked. A new report titled ‘Protein Bar Market: Global Industry Analysis (2012-2016) & Forecast (2017-2022)’ has been recently published by Persistence Market Research. A historical analysis for the four-year period from 2012 to 2016 has been compared with the forecast period ending in 2022 to present readers a complete picture of the protein bar market.
The protein bar market has been studied with an equal emphasis on both developed and emerging economies in the world. The developed regions analyzed include North America, Europe, and Japan while the emerging ones are APEJ, MEA, and Latin America. Every region has a dedicated section where the report highlights revenue statistics on the basis of the taxonomy. The forecast has been provided for the entire decade to allow readers to gain a thorough understanding of the protein bar market. The report focuses on the largest countries in each region making it easier for key stakeholders who wish to target only certain high-growth nations in the protein bar market.
A vital section of the protein bar market report is all about the market forecast and analysis based on the product type. Market share, Y-o-Y growth comparison, and revenue have been given for low protein, medium protein, and high protein bars. A company that aims to enter a specific product type is advised to refer to this chapter of the protein bar market report.
An in-depth competition analysis is absolutely critical in any market and this holds true for the protein bar market as well. The company profile and competition landscape chapter serves this need effectively. The protein bar market report has profiled prominent companies that direct the protein bar market. A company overview, strategies adopted, recent company developments, and important financial ratios can be found in this section of the protein bar market report. A SWOT analysis of the immediate competition concludes this section of the protein bar market report and is imperative for devising long-term business strategies.
The protein bar market report begins with the executive summary that provides a holistic, birds-eye view of the protein bar market as a whole. It is closely related to the market overview that comprises the definition along with the taxonomy of the protein bar market. Furthermore, the protein bar market report includes the overall market size, dynamics and Y-o-Y growth that are witnessed in the protein bar market. The report discusses the relationship between different nodes of the supply chain at length and also the pricing structure and cost analysis found in the protein bar market.
Protein Bar Market Taxonomy
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