A key factor driving the growth of the global energy bar market is the increasing demand for sports nutrition. The global sports nutrition industry is expected to witness significant growth owing to the expanding consumer base including professional athletes and fitness enthusiasts. This has encouraged the consumption of sports supplements including shakes, energy bars, and other drinks as a crucial component of an enriched and fortified diet. The sales growth of sports energy bar can also be attributed to the rising demand from sports enthusiasts seeking multifunctional and better-tasting food supplements. Thus, an increasing demand for sports nutrition products is anticipated to foster the energy bar market growth during the forecast period.
As per Technavio, the increasing sales of energy bars through online retailing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global energy bar market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global energy bar market: Increasing sales of energy bars through online retailing
Global online energy bar market has witnessed considerable growth due to several factors such as increasing urban consumers, growing millennial population, and rising disposable income. The online segment has been witnessing huge sales value due to the elimination of supply chain intermediaries. Energy bars are witnessing increased online purchase from both pure-play online retailers and websites of traditional food retailers. Furthermore, rising number of mobile consumer users are driving the online sale of packaged nutritional foods including the energy bars. This has also encouraged vendors to launch their online platforms to offer products to a wider target audience.
“Vendors are differentiating their product line through different packaging designs. Consumers prefer transparent packaging to have an actual look of the food products and see the texture of the energy bars. The sales of energy bars are likely to grow further owing to the special focus given toward designing the outer packaging to create an impression and connection with the consumers,” says a senior research analyst at Technavio.
Global energy bar market: Segmentation analysis
This market research report segments the global energy bar market by product (conventional energy bar and organic energy bar) and geographic regions (North America, APAC, Europe, South America, and MEA).
North America led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. The market growth in North America can be attributed to the rising demand for sports nutrition among consumers driven by an increasing interest in health, fitness, and wellbeing. This has also led key vendors in this region to expand their product lines to capitalize on the increasing demand for energy bars.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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