What Transformation Has the Plant-Based Bars Market Undergone?
The plant-based bars market has seen considerable growth due to a variety of factors.
•The sector for plant-based bars has seen an explosive expansion in recent years. The market, which is projected to surge from $5.68 billion in 2024 to $6.27 billion in 2025, boasts a compound annual growth rate (CAGR) of 10.2%.
The impressive growth during the historic period is due to the popularity of plant-based diets, increasing health awareness, the rise of vegan and vegetarian trends, preference for clean label products, and the demand for allergen-free options.
How Will The Plant-Based Bars Market Size Evolve In The Foreseeable Future?
The plant-based bars market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for plant-based bars is anticipated to experience significant expansion in the forthcoming years. The expected value by 2029 is around $9.14 billion, indicating a compound annual growth rate (CAGR) of 9.9%.
Factors contributing to the growth during the projected period range from functional ingredients and global market augmentation to e-commerce development, sustainable packaging, and exploration of culinary and flavors. Key trends during this forecast period encompass collaborations and partnerships, innovative ingredient implementations, the embracing of regenerative agriculture, blockchain technology for increased transparency, and alternative protein combinations.
Which Key Drivers Are Propelling The Plant-Based Bars Market's Growth?
The growth of the plant-based bars market is anticipated to be fueled by the rising popularity of sports and fitness activities. These activities, aimed at enhancing physical health and wellness, often encourage the use of plant-based bars due to their easy accessibility, portability, and nutritional value. These bars serve as a beneficial supplement aiding in performance and recovery during these exercises, acting as intra-workout snacks, pre-workout stimulants, and post-workout recovery boosters, offering vital nutritional and protein benefits. For example, as reported by the Sports & Fitness Industry Association, a US-based organization focusing on promoting sports and fitness participation, in 2023, there was an involvement of about 242 million Americans, which accounts for 78.8% of the population, engaging in some sport or fitness activity at least once. This shows a 2.2% rise from the previous year and records the tenth year of continuous growth, with an additional 5 million individuals participating in physical activities in 2023. Hence, the escalating popularity of sports and fitness activities is predicted to push forward the expansion of the plant-based bars market.
What Are The Key Segments Within The Global Plant-Based Bars Market?
The plant-based bars market covered in this report is segmented –
1) By Type: Cereal And Granola Bars, Protein Bars, Energy Bars And Meal Replacement Bars, Fruit And Nut Bars, Other Types
2) By Nature: Organic, Conventional
3) By Distribution Channel: Super markets And Hyper markets, Specialty Stores, Convenience Stores, Online Retail Stores, Other Distribution Channels
Subsegments:
1) By Cereal And Granola Bars: Oats-Based Bars, Mixed Grain Bars, Seed-Based Bars
2) By Protein Bars: Soy Protein Bars, Pea Protein Bars, Hemp Protein Bars, Other Plant-Based Protein Bars
3) By Energy Bars And Meal Replacement Bars: High-Fiber Energy Bars, Low-Sugar Energy Bars, Nutrient-Dense Meal Replacement Bars
4) By Fruit And Nut Bars: Fruit-Only Bars, Nut-Only Bars, Mixed Fruit And Nut Bars
5) By Other Types: Veggie-Based Bars, Superfood Bars, Gluten-Free Bars
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How Are New Trends Impacting The Size Of The Plant-Based Bars Market?
One of the prevalent trends seen in the plant-based bars market is product innovation. The leading companies in this market are creating novel products to solidify their market presence. For example, Laird Superfood Inc., a plant-based and functional foods producer from the US, introduced a plant-based protein bar with adaptogens in July 2022. This avant-garde product incorporates ten grams of plant-derived protein from ingredients like peas, hemp seeds, and pumpkin seeds, in addition to six grams of dietary fiber and all the nine essential amino acids. Furthermore, it doesn't contain genetically modified organisms, dairy, soy, gluten. It comes in a variety of four flavors: peanut butter, peanut butter chocolate chip, chocolate mint, and lemon almond. This bar is not only a beneficial source of protein, fiber, and other nutrients, but it also doesn’t contain artificial flavors, colors, and preservatives, making it a sustainable option for vegans or those who are lactose intolerant.
Who Are the Key Players in the Plant-Based Bars Market?
Major companies operating in the plant-based bars market include:
• General Mills Inc.
• Kellogg Company
• Orgain Inc.
• Clif Bar & Company
• Nature's Path Foods Inc
• Garden of Life LLC.
• KIND Snacks
• RXBAR
• Square Organics Inc
• Go Macro LLC
• Probar LLC.
• NuGo Nutrition
• Lenny & Larry's LLC
• 22 Days Nutrition
• Health Warrior Inc.
• BHU Foods
• Bobo's Oat Bars
• Simply Protein
• Thunderbird Real Food Bars
• Greens Gone Wild LLC.
• ZEGO Foods
• R.E.D.D.
• No Cow LLC
• Kuli Kuli Inc.
• Raw Rev
• Evo Hemp
• Picky Bars Inc.
• LoveRaw Ltd.
• 88 Acres Foods Inc.
• Taos Bakes
What are the Regional Insights into the Plant-Based Bars Market?
North America was the largest region in the plant-based bars market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant-based bars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
