Low Carb Protein Bars Market Analysis: Overview
The market for protein bars has been expanding quickly due to a number of favourable factors, most notably the rising popularity of portable convenience foods among consumers. Protein bars are popular among people who cannot or do not have time to prepare their own food, not just athletes. They also have the added benefit of being wholesome and nutritious, which raises energy levels and increases muscle mass. The protein bar market appears to have a high demand for flavour innovations due to the enormous consumer base diversification. This has encouraged new competitors to charge headlong into the protein bar market.
In the protein bar market, high protein bars account for more than a quarter of revenue and are projected to grow their market share during the forecast period. By the end of 2022, the high protein bar market is expected to be worth more than US$ 630 million, making it crucial for protein bar producers to adjust their product mix. With a revenue share of just over a third in the protein bar market in 2017, the low protein category is the second most well-liked. Low protein bar manufacturers would do well to focus on North America as consumers there appear to have a strong appetite for this protein bar category.
Particularly when compared to modern trade and specialty shop distribution channels, online stores continue to occupy a relatively small portion of the protein bar market. However, consumers should choose online shopping portals as a result of improved Internet infrastructure in emerging nations brought on by lower smartphone pricing and readily accessible 4G LTE connectivity. In the online store section of the protein bar market, North America and APEJ are the two regions to watch out for as both have highly tech-savvy populations who are eager to check out the newest gadgets.
Global Low Carb Protein Bars Market: Major Players
Global Low Carb Protein Bars Market: By Types
Global Low Carb Protein Bars Market: By Applications
People are searching for novel and creative ways to incorporate plant-based food into their lifestyles as veganism grows in popularity. One method that plenty of people are achieving this is by switching from protein sources that contain animal to vegan protein bars. Vegan protein bars are growing in popularity for a variety of reasons. They’re a terrific method to consume a convenient and quick source of protein, for starters. They’re a fantastic solution for folks who are constantly on the road and are also ideal for on-the-go snacking. Additionally, compared to other plant-based protein sources like tofu or tempeh, many individuals think vegan protein bars taste superior.
And last, purchasing vegan protein bars is a fantastic way to help the expanding vegan movement. Finding plant-based sources of protein is one of the difficulties faced by vegans. There are more options for meatless meat, but they can be pricey and some people find them hard to stomach. For vegans, protein bars are an easy and economical method to acquire their recommended daily intake of protein. Vegan protein bars come in a wide range of brands and kinds, however the majority are low in minerals and high in sugar. The market for Vegan Protein Bars expanded globally in the first half of 2021 by 10.1%. This growth is more pronounced in developing markets, where it reached 11.2%, despite not being distributed equally across all geographical areas.