Plant Based Bar Market, By Type (Vegetables, Nuts and Others), By Product Type (Snack Bar, Meal Replacement Bar, Energy Bar and Others), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Stores and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Protein bars contain high proportion of proteins to carbohydrates and fat. Proteins are required to build muscles, in addition with other nutrients. These protein bars are easy to carry in handbags. These proteins are derived from vegetables. According to the World Health Organization (WHO), 80% population can be healthy by just changing the living style and increasing protein content in their diet and shifting towards plant based product. There are many sources to obtain protein bars one is nuts which is highly in demands. Many key players are focusing on their product portfolio. For instance, Nestle declared the launch of Yes! Snack bars made from nuts and peas in recycle paper wrapper. The global plant based bar market accounted for US$ 10.3 billion in 2020 and is estimated to be US$ 18.5 billion by 2030 and is anticipated to register a CAGR of 6.2%.

Impact of Covid-19 pandemic on market

The market of plant based bar increased during Covid-19 as due to fear of air-borne diseases, as more consumers switched to vegan products. Moreover, due to high risk posed by Covid-19 patients with serious conditions like diabetes, heart problem chooses low fat and high nutritional protein bars which boost the market.

Emerging Fitness trends and increasing fitness centers and wellness clubs

People are becoming health conscious and shifting towards plant based product that drives the market. As the fitness clubs and gyms are increasing, the demand for plant based protein bars increases, hence rising the market of bars.

Market campaigns for vegan bars and surge in vegan population

Key players are doing campaigns to spread awareness regarding vegan protein bars which can boost the market of plant based bar. Moreover, with the rising case of food allergies consumers are replacing dairy and meat product with plant based alternatives which drives the market.

High cost and large availability of substitutes

High cost of these bars and availability of substitutes at affordable prices might hamper the pant based bar market.

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

The global Plant Based Bar market size is segmented based on type, product type, distribution channel and region.

By Type, the Global Plant Based Bar Market is segmented into Vegetables, Nuts and Others. By Product Type, the market is segmented in Snack Bar, Meal Replacement Bar, Energy Bar and Others. By Distribution Channel, the Global Plant Based Bar Market is segmented into Supermarkets & Hypermarkets, Specialty Stores, Online Stores and Others.

Regional Insights:

On region, the global plant based bar market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America dominates the market of plant based bar due to increase awareness about fitness and shifting towards healthy foods. Europe also contributes a significant share over the forecast period due to focus on R&D to introduce healthy alternatives.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global plant based bar market report based on product, site of collection, application, and region.

Global Plant based Bar Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global plant based bar market includes Simply Protein, BHU Foods, PROBAR LLC, NutGo Nutrition, Gomacro, Garden of Life, Raw Rev and Risebar and Health Warrior. Companies are continuously rising the production and adopting the strategies such as mergers and acquisitions, product innovation, development, collaboration partnership. For Instance, August 2016, Nugo Nutrition acquired Promax brand from Promax Nutrition Corp to enhance the production of proteins bar.

• Health Warrior
• Simply Protein
•  BHU Foods
•  PROBAR LLC
•  NuGo Nutrition
•  Gomacro
•  Garden of Life
•  Raw Rev
•  Risebar