The Latest Protein Bar Industry Statistics Explained
The global protein bar market was valued at USD 1.18 billion in 2020
The statistic that the global protein bar market was valued at USD 1.18 billion in 2020 indicates the total economic worth of protein bars sold worldwide during that year. This value represents the revenue generated from the sales of protein bars across various markets and regions globally. The figure highlights the significant demand for protein bars as a convenient and popular nutritional snack choice among consumers seeking on-the-go sources of protein. It also suggests a growing trend towards health-conscious eating habits and fitness-related lifestyles, driving the market’s growth and expansion.
North America accounted for more than 40.0% share of the protein bar market in 2020
The statistic indicates that North America held a significant portion of the protein bar market in 2020, with a share exceeding 40.0%. This suggests that the region was a key market for protein bars, indicating a strong demand for these products among consumers in North America. The high market share also implies that North America was likely a profitable and competitive market for protein bar manufacturers and retailers, highlighting the importance of the region in the global protein bar industry. This statistic underscores the significance of North America as a major player in the protein bar market and points to potential opportunities for businesses operating in this sector to target and capitalize on the region’s substantial market share.
The protein bar market is predicted to grow at a CAGR of 6.3% in the period of 2021-2026
The statistic indicates that the protein bar market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.3% over the period from 2021 to 2026. This means that on average, the market is forecasted to increase by 6.3% each year during this five-year period. This growth rate suggests a positive trend in consumer demand for protein bars, possibly driven by factors such as increasing health consciousness, changing dietary habits, and a growing market for fitness and sports nutrition products. The predicted CAGR provides valuable insights for businesses and investors in the protein bar industry, helping them make informed decisions and strategies to capitalize on the expected market growth.
Europe protein bar market is projected to reach USD 717.92 Million by 2027
The statistic “Europe protein bar market is projected to reach USD 717.92 Million by 2027” indicates the anticipated total value of protein bar sales in the European market by the year 2027. This projection suggests a growing trend in the consumption and demand for protein bars in Europe, likely driven by factors such as increasing awareness of health and fitness, changing dietary habits, and consumer preferences for convenient and nutritious snack options. The estimated market value signifies a significant market opportunity for businesses operating in the protein bar industry to tap into this growing demand and potentially expand their market share in the region.
The vegan protein bars segment is expected to grow at a CAGR of 4.1% from 2021 to 2028
This statistic indicates that the market for vegan protein bars is projected to experience a Compound Annual Growth Rate (CAGR) of 4.1% over the period spanning from 2021 to 2028. This growth rate suggests a steady increase in demand and consumption of vegan protein bars within this timeframe. The CAGR provides a clear measure of the average annual growth rate of the segment, taking into consideration compounding effects. A 4.1% CAGR implies a moderate but consistent expansion in the market for vegan protein bars, reflecting a potential trend towards healthier and plant-based food options among consumers.
Low carb protein bar segment is anticipated to reach USD 538.0 million by 2028
The statistic indicates that the low carb protein bar segment of the market is expected to grow and reach a value of USD 538.0 million by the year 2028. This forecast suggests that there is a significant market demand and potential for growth in this particular segment, likely driven by factors such as increased consumer awareness of health and wellness, a growing emphasis on protein-rich diets, and a shift towards low-carb dietary preferences. The projected value represents a lucrative opportunity for businesses operating in the low carb protein bar industry, highlighting a positive outlook for future market expansion and profitability within this niche market segment.
The leading player in the protein bar market is Kellogg Co., accounting for 13% of global market value in 2021
The statistic indicates that Kellogg Co. holds a dominant position as the top player in the protein bar market worldwide, capturing 13% of the market value in 2021. This suggests that Kellogg Co. has a significant market share compared to its competitors, demonstrating strong brand recognition, product popularity, and effective marketing strategies in the protein bar industry. The statistic highlights Kellogg Co.’s leadership in this market segment, showcasing its ability to meet consumer demand and maintain a competitive edge within the global protein bar market landscape.
Protein bars high in sugar is the second-largest segment in the market with over 32% share
The statistic indicates that within the market for protein bars, the segment of protein bars that are high in sugar holds the second-largest share, accounting for over 32% of the market. This suggests that there is significant demand for protein bars with high sugar content among consumers, perhaps due to taste preferences or marketing strategies. The popularity of protein bars high in sugar highlights a key trend in the market and may have implications for manufacturers looking to target this segment with their product offerings. Additionally, the statistic implies that other segments within the protein bar market may not be as dominant as the high-sugar category, highlighting the importance of understanding consumer preferences and market dynamics in the development and marketing of protein bar products.
The Chocolate-flavored protein bars market share is expected to hit USD 395.22 million by 2027
This statistic suggests that the market share of chocolate-flavored protein bars is projected to reach USD 395.22 million by the year 2027. This figure represents the total value of sales that chocolate-flavored protein bars are expected to capture within the broader protein bar market. The growth in market share indicates an increasing consumer demand and popularity for chocolate-flavored protein bars over the forecast period. Factors driving this growth could include an increased focus on health and wellness, changing consumer preferences, and effective marketing strategies by manufacturers. The statistic provides valuable insights for businesses operating within the protein bar industry, guiding product development, marketing, and sales strategies to capture a larger share of the market.
The U.S. accounted for around 85% of the revenue share in North America in 2020
The statistic indicates that in 2020, the United States generated approximately 85% of the total revenue in North America. This implies that the U.S. market significantly dominates the overall economic landscape within the region, outperforming other countries in terms of revenue generation. The high revenue share of the U.S. suggests strong consumer demand, market size, and the economic power of the country compared to its North American counterparts. This statistic could have significant implications for companies and policymakers as they make decisions related to market expansion, investment strategies, and economic policy within the North American region.
UK’s protein bar market size was valued at USD 244.8 Million in 2019
The statistic indicates that the total value of the protein bar market in the UK in 2019 was USD 244.8 million. This figure represents the total revenue generated by the sales of protein bars within the UK market during that year. The market size value serves as a key indicator of the industry’s economic significance and provides insights into consumer demand for protein bars in the UK. It can also be used to analyze trends, assess market competition, and guide business decisions within the protein bar industry.
Globally, the protein bar market is anticipated to reach USD 2.28 Billion by 2027
The statistic that the protein bar market is anticipated to reach USD 2.28 Billion by 2027 indicates a substantial growth trajectory in the industry. This monetary value represents the total revenue expected to be generated from the global sales of protein bars by the year 2027. The increasing popularity of protein bars as a convenient and healthy snack option, coupled with a growing emphasis on health and fitness trends worldwide, is likely contributing to this anticipated market value. This statistic suggests that there is a strong demand for protein bars across various consumer segments, and companies operating in this market are expected to witness significant revenue opportunities in the near future.
More than 30% of the protein bar industry revenue comes from gym goers
The statement “More than 30% of the protein bar industry revenue comes from gym goers” suggests that a significant portion of the total revenue generated by the protein bar industry is attributed to sales made to individuals who frequent gyms. This statistic indicates that gym goers are a crucial consumer segment for the protein bar industry, likely due to their interest in health and fitness, as protein bars are often consumed as a convenient and quick source of nutrition post-workout. Understanding the importance of this consumer group can help industry stakeholders tailor their marketing strategies and product offerings to better cater to the preferences and needs of gym enthusiasts, potentially leading to increased sales and market share within this lucrative segment.
The protein bars without sugar additives segment is expected to expand at the fastest CAGR of 9.2% from 2020 to 2027
This statistic indicates that the market for protein bars without sugar additives is projected to grow rapidly at a Compound Annual Growth Rate (CAGR) of 9.2% from 2020 to 2027. This suggests a strong upward trend in consumer demand for protein bars that are free from sugar additives during this time period. The fast expansion of this segment signifies a shift in consumer preferences towards healthier snacking options, as individuals become more health-conscious and seek products that align with their dietary choices. The notable growth rate also demonstrates the potential for businesses to capitalize on this trend by developing and marketing protein bars that cater to this specific market niche.
High protein bars controlled half of the global protein bar market in 2020
The statistic “High protein bars controlled half of the global protein bar market in 2020” indicates that high protein bars accounted for approximately 50% of the total sales within the protein bar industry worldwide in the year 2020. This suggests that high protein bars were a dominant player within the market, demonstrating strong demand and popularity among consumers seeking protein-rich snack options. The statistic highlights the importance and competitiveness of the high protein bar segment within the broader protein bar market, showcasing its significant market share and influence in driving industry trends and sales during the specified year.
Australian protein bar market revenue is expected to expand at a CAGR of 5.8% from 2021 to 2026
The statement highlights that the revenue generated in the Australian protein bar market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% over the period of 2021 to 2026. CAGR is a measure that provides a constant rate of growth over a specified time period, offering a more accurate representation of the market’s performance compared to simple annual growth rates. This statistic suggests that there is a positive outlook for the Australian protein bar market, indicating increasing consumer demand, potential market expansion, and business opportunities within the industry for both existing and new market players. The projected growth rate of 5.8% signifies a steady and consistent rise in revenue over the five-year period, showcasing a promising trend for stakeholders in the market.
The total market value for protein bars in Canada in 2020 was CAD 163 million
The statistic “The total market value for protein bars in Canada in 2020 was CAD 163 million” reveals the overall worth of sales generated from protein bars in Canada during the year 2020. This figure represents the combined value of all protein bars sold in the Canadian market, indicating the popularity and demand for these products among Canadian consumers. The CAD 163 million market value highlights the significant contribution of protein bars to the food industry in Canada, emphasizing the importance of this specific product category within the broader context of the Canadian economy.
Online retail is expected to be the fastest-growing segment at a CAGR of 14.7% during the forecast period
This statistic indicates that the online retail sector is projected to experience the highest rate of growth among all segments, with a Compound Annual Growth Rate (CAGR) of 14.7% over the forecast period. This suggests that there is a strong consumer demand for online shopping and e-commerce platforms, leading to increased sales and revenue within this sector. The high CAGR value implies that online retail is likely to expand rapidly compared to other segments, making it a lucrative and promising area for businesses and investors to focus on in the coming years.
The total number of adults consuming protein bars multiple times a week in the United States reached 20 million in 2020
The statistic “The total number of adults consuming protein bars multiple times a week in the United States reached 20 million in 2020” indicates that there were 20 million adults in the United States who were regularly consuming protein bars at least two or more times per week during the year 2020. This statistic highlights the widespread popularity of protein bars among adults in the country as a convenient and potentially healthy snack or meal replacement option. The figure of 20 million provides insight into the significant market demand for protein bars and suggests a growing trend towards healthier eating habits and a focus on protein intake among consumers.
In 2020, Clif Bar & Company has the highest share of sales of individual nutrition bars in the United States at 25.2%
The statistic that Clif Bar & Company had the highest share of sales of individual nutrition bars in the United States in 2020 at 25.2% indicates that their brand dominated a significant portion of the market. This means that out of all the different brands offering nutrition bars in the US, Clif Bar & Company had the largest percentage of total sales, demonstrating a strong consumer preference for their products. This high market share suggests that Clif Bar & Company likely implemented successful marketing strategies, product innovation, and brand positioning to attract and retain customers in a competitive industry.
References
0. – https://www.www.fortunebusinessinsights.com
1. – https://www.www.expertmarketresearch.com
2. – https://www.www.statista.com
3. – https://www.www.grandviewresearch.com
