Nutrition Bars Market is expected to reach valuation of US$ 1.8 Bn with 4% CAGR

Posted by mandar on March 26th, 2021

Nutrition Bars Market: Introduction

A latest study of TMR (Transparency Market Research) on the nutrition bars market comprises global industry analysis, along with opportunity assessment for 2020-2030. The complete revenue generated from the global nutrition bars market is expected to stand at over US$ 1.2 Bn in 2020 that is estimated to expand at a CAGR of 4%, to cross US$ 1.8 Bn by 2030.

Improvement in Sensory Quality of Nutrition Bars to Support Sales

The common perception that healthy food products comes at the cost of taste and flavor has been blurred out across the globe, as key players have improved their product portfolio to a point that taste is not a negative issue for nutrition bars. The improved quality of ingredients as well as the launch of novel processing technology have shaped the availability of nutrition bars in attractive compositions and flavors; some of them are only exclusive to bar offerings. This is anticipated to drive the global nutrition bars market during the forecast period. Moreover, some key manufacturers of confectionery products have transformed their product lines into functional products by launching high protein ingredient-based products to increase per unit servings of protein to entice newer customers while holding the older ones.

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In 2016, Mars Inc. introduced a high protein version of Mars and Snickers bars. In 2017, it has added a high-protein version of its Bounty bar to the range, targeting the nutrition bars market, and making a high protein claim such as the 51 g, 192 calorie bar contains 19 g of proteins.