Protein bars are a type of nutritional supplements that contain high amounts of protein blended with other nutrients, and packed in an air tight cover. They are manufactured, primarily to target people who need protein rich foods that don’t require preparation. Protein bars are mainly used by athletes or fitness enthusiasts for muscle building.
Rising prevalence of lactose intolerance among individuals worldwide is increasing the demand for protein bars that are gluten-free, which is a major factor supporting growth of the target protein bars market. In 2017, the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), estimated that approximately 75% of African Americans and 90% of Asian Americans were lactose intolerant.
The global protein bars market report has been segmented on the basis of protein source, protein content, product type, and region. On the basis of protein source, the market is segmented into animal and plant. Plant segment dominates the global market in terms of revenue over the forecast period, owing to rising demand for gluten-free plant sources, associated health benefits, and reduced risk of various heart diseases and cholesterol levels. On the basis of protein content, the market is segmented into high protein, medium protein, and low protein. On the basis of protein content, the market is segmented into low- carb protein bars, energy protein bars, and meal replacement bar.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global market in terms of revenue over the forecast period, owing to increasing fitness trend among young population an increasing preference for nutritious food products in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to rising adoption of sports based activities in countries such as Australia and India in the region.
Key players operating in the global protein bars market include Abbott Laboratories, Kellogg Co., Premier Nutrition, Quest Nutrition, General Mills, Inc., Universal Nutrition Corp., Active Nutrition International GmbH, and Groupe Danone.