Global Fortified Energy Bar Market – Overview
Growing health awareness followed by busy routine has elevated the demand for fortified energy bars. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on “Global Fortified energy Bar Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR during the forecast period.
Food bar includes candy bars, protein bars, energy bars, oats bars, and many more. They are available in different flavors such as chocolate, fruits, peanut butter, savory, spices, and others. These food bars are rich in fiber and protein content and consumed as healthy alternative for snacks. Among the different food bars, energy bars are loaded with carbohydrates which are mostly used for quick boost during long distance training sessions of an athlete.
The trend of consuming energy bars as snacks between the meals is gaining popularity among all age groups which is driving the market of fortified energy bars. Moreover, changing lifestyle and increasing number of working population is adding fuel to the global market growth. Additionally, increasing population of health conscious individuals is propelling the market growth of fortified energy bars.
The global fortified energy bar market is anticipated to be driven by the increasing awareness of nutrients such as proteins, fat, and carbohydrate. Also, sports nutrition industry is expected to play a significant role in the growth of fortified energy bar market during the forecast period. Additionally, the advancement in product development coupled with the technological advancements is considered to be one of the significant reasons for the increasing growth of fortified energy bar market during the forecast period.
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Latest Industry Updates
Dec 2017 Kellogg’s recently has acquired the RXbars Company for a hefty $600 million. The cereal maker says the “unique and innovative” company, known for its simple labels with ingredients printed on the front, will continue to operate independently.
Nov 2017 Nottingham Charity has launched a free vending machine for homeless people to use. The machine itself is stocked with things like fresh fruit, sanitary towels, socks, energy bars, and sandwiches. It is accessible 24/7 under the canopy outside the back entrance of Broadmarsh shopping centre.
Nov 2017 Mars, the owner of confectionery brands including Snickers, M&M’s and Galaxy has acquired a minority stake in Kind, the maker of healthy nut bars.
Nov 2017 Hearthside Food Solutions in Downers Grove has completed its transaction to acquire Standard Functional Foods Group Inc. of Nashville, Tennessee, in an effort to grow its nutrition and energy bar business.
Global Fortified Energy Bar Market - Competitive Analysis
With the entry of industry players in the fortified energy bar segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are highly focused on product innovations, and new product launches which are healthy for the consumers. Acquisitions and partnership with small companies are some other strategic movements made by the major key players. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players profiled in Fortified energy bar 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.)
Global Fortified energy Bar Market – Segments
The global Fortified energy bar market has been divided into type, packaging material, distribution channel and region.
On The Basis of Type: Fruits, Cereal, Nut and Seeds, and Others
On The Basis of Packaging material: Paper, plastic, and others
On The Basis of Distribution channel: Store Based and Non-Store Based
On The Basis of Region: North America, Europe, Asia Pacific, and ROW.
Global Fortified energy bar Market - Regional Analysis
The global Fortified energy bar market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America is dominating the global market followed by Europe. New product innovations by the key players are driving the North American market in which the U.S. is the major contributor. Inclination towards functional food among the European population is a major factor contributing for the growth of European market.
Asia Pacific is expected to be the fastest growing market over the forecast period. In Asia pacific region, India and China are the major contributors responsible for the growth of fortified energy bar market. The growing population along with rise in disposable income and the increasing number of health conscious individuals is driving the market of this region. Moreover, growing health awareness among the population will drive the growth of fortified energy bar in rest of the world.