The global snack bars market size is projected to reach USD 7.18 billion by 2025 expanding at a CAGR of 6.64% from 2019 to 2025, according to a new report by Radiant Insights, Inc. Changing consumer lifestyles and food patterns are expected to drive the demand for convenient food products, such as snacks bar. The richness of fiber and iron in granola/muesli bars has made it the dominant product segment of the global market. Whereas, increasing awareness about the health benefits offered by energy and nutrition bars lists it as the fastest-growing product segment.
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Supermarkets/hypermarkets hold the dominant market share as these stores have a variety of products at discounted prices. However, the online distribution channel is projected to emerge as the fastest-growing segment over the forecast period. Developed countries, such as U.S, Japan, and China, have well-established markets for healthy bars. On the other hand, emerging countries like India can offer new growth opportunities for the global market. Increasing population and awareness regarding health and fitness programs is also likely to boost the market.
Business expansions and product launches are the major strategies adopted by key companies in this market. For instance, a Russian company called Bio Food Lab will expand its business in emerging countries of APAC. Kellogg's launched special K-bars. Availability of substitutes of these nutritious foods in the market may have a negative impact on the market growth. North America is the dominant regional market followed by Europe.
Asia Pacific is said to be the fastest-growing region due to rising popularity of sports as career option and increasing disposable income and number of nuclear families in the region. Companies such as Quaker Oats, Kellogg's, Nature Valley have a prominent share in the market Manufactures are focusing upon improving a variety of snack bars. The merger of KIND Bars with Mars; a prominent player in the market, has increased its presence of these products to drive the product variety in the market.
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Further key findings from the study suggest:
• North America led the global snack bars market in 2018. The region is said to maintain its dominance over the forecast years due to the strong presence of prominent companies
• Asia Pacific it is expected to witness the fastest market growth from 2019 to 2025 due to increasing health consciousness and product awareness in emerging economies like India
• The industry is highly competitive. Key companies including Nature Valley, Kellogg's, Alpen And Jordan, Quaker Oats, Kind Bars, Cliff Bars, Earnest Eats, Mars, Oriole Healthy Foods, And the Hain Celestial Group
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Global Snack Bars Market Report 2025 size is anticipated to reach USD 31.60 Billion by the year 2025, according to a new report by Million Insights.
The market is anticipated to grow at a CAGR of 6.64% over the forecasted years, 2019 to 2025.
But, due to rapid increase in the usage of internet, the online distribution channel is expected to grow at the higher pace over the forecasted period.
The market for snack bars in developed countries like U.S. China and Japan is matured market.
Likewise, the market in the developing countries like India is also expected to surge up during the forecasted period, 2019 to 2025.
The key players in this market are pursuing various types of product launches and business expansions in order to expand their sales.
Market OverviewThe Global Pea Protein Market is expected to grow at a CAGR of 13% during the forecasting period (2020-2027).Pea protein is derived from yellow split peas, which are part of pulses and legumes family.
The presence of similar functional properties as whey protein led to increased consumption among the consumers as an ingredient in post-workout smoothies.
Download free sample: https://www.datamintelligence.com/download-sample/pea-protein-market Market Dynamics:The rise in population of vegetarian consumers and growing demand for affordable and sustainable protein powders are primary factors driving the global pea protein market.
Increasing shifts in gym population interests towards plant-based protein and the presence of similar functional properties between whey and pea protein are further expected to boost the consumption of pea protein as a nutritional supplement globally.However, minimal availability of amino acids, lack of awareness among the communities, and high are key factors restricting the growth of the global pea protein market.
Pea protein isolate is obtained from yellow peas that have been processed through the cold-water filtration method to decrease the added starch and fiber content which is naturally occurring from peas.
The rapid shift in consumer dietary habits towards vegan, non-gmo, and organic foods is further expected to boost the industrial consumption of various food products (Yogurt, flavored milk, protein bars others).
