Protein Bars Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[221+ Pages Report] According to Facts & Factors, the global protein bars market size was worth around USD 4.89 billion in 2023 and is predicted to grow to around USD 8.47 billion by 2032, with a compound annual growth rate (CAGR) of roughly 6.30% between 2024 and 2032.

Market Overview

Protein bars are portable and convenient snacks offering quick protein sources, mostly blended with fats, carbohydrates, and vitamins. They are widely demanded by fitness enthusiasts, athletes, and individuals seeking to supplement their diet with added protein. The global protein bars market is anticipated to experience substantial growth owing to the rising demand for healthy, convenient, and high-protein snacks.

Other key global market drivers include rising health consciousness, developing sports nutrition and fitness market, and portability and convenience.

As consumers become fitness conscious, they actively shift towards healthy and convenient options. Protein bars offer an ideal balance of macronutrients, supporting such conscious groups to maintain a better life. Also, a growing number of gyms and online fitness sessions fuel the demand for ready-to-eat snacks that help recovery and muscle repair.

Moreover, these bars are highly portable, which makes them an attractive on-the-go snack for individuals seeking a quick nutritional boost in the daytime. This convenience is a leading factor propelling the market growth.

Nonetheless, high price points and concerns with artificial additives are key hampering factors for industry growth. The high-quality protein bars available today, mainly the ones with premium, organic, and plant-based ingredients, may be costlier than the traditional options. This may restrict the adoption of value-oriented individuals or in low-income markets.

Furthermore, several commercial protein bars on the market include artificial sweeteners, additives, or preservatives. As individuals gain awareness of ingredients, concerns about using artificial elements may restrict the industry’s growth.

However, the market is expected to witness remarkable growth in the coming 5 years, owing to opportunities like functional and personalized products and development in the developing markets. There is a rising demand for these bars that satisfy certain dietary needs and offer extra functional advantages like being keto-friendly or low-carb, dairy-free, gluten-free, and allergen-free, as well as bars for weight management.

Expansion of progressing markets like China, India, and Latin America, which are witnessing speedy economic growth, propelling the demand for such snacks, is an opportunity for the manufacturing companies to widen their reach.

Key Insights:

• As per the analysis shared by our research analyst, the global protein bars market is estimated to grow annually at a CAGR of around 6.30% over the forecast period (2024-2032)
• In terms of revenue, the global protein bars market size was valued at around USD 4.89 billion in 2023 and is projected to reach USD 8.47 billion by 2032.
• The protein bars market is projected to grow significantly, owing to the growing demand for high-protein diets, increasing spending power of consumers, and rising fitness trends and social media impact.
• Based on type, the sports nutritional bars segment is expected to lead the market, while the meal replacement bars segment is expected to register considerable growth.
• Based on protein source, the animal-based protein bars segment is the dominating segment among others, while the plant-based protein bars segment is projected to witness sizeable revenue over the forecast period.
• Based on distribution channel, the hypermarkets & supermarkets segment is expected to lead the market compared to the online segment.
• Based on region, North America is projected to dominate the global market during the estimated period, followed by Europe.

Growth Drivers

• Portability and convenience drive the protein bars market growth

Protein bars offer a portable and convenient snack for busy customers. People with hectic lifestyles prefer easy-to-carry, no-preparing options that offer sustained energy and nutrition. The rising appetite for quick access and ready-to-eat foods is becoming more noticeable, thereby driving the protein bars market expansion. With more and more consumers on the go and work-from-home groups, there is increasing demand for portable food products like protein bars.

In the United States, the sale of protein bars has witnessed an 8% rise annually, impacted by the rising consumer preference for protein-rich and convenient snacks that fit their routines.

• The growing demand for high-protein and plant-based alternatives fuels the market growth

The growing consumption of plant-based eating, fueled by environmental issues, health benefits, and ethical considerations, propels the demand for vegetarian or vegan protein bars. The global plant-based protein bar market is projected to progress at 6% CAGR by 2030, contributing to a significant fragment of the overall industry growth.

Plant-based companies, such as Orgain and No Cow, are experiencing remarkable success with their plant-based bars, gaining widespread popularity. The inclination towards environmentally friendly and vegan options is marked, with brands like Impossible Foods and Beyond Meat taking advantage of this emerging trend. As brands enter the industry, they spend heavily on plant-powered protein inventions.

Restraints

• Elevated sugar content in a few protein bars unfavorably impacts the progress of the protein bars market

Most protein bars contain high sugar levels, which undercut their health advantages. Customers are actively concerned about their sugar intake, owing to the growing diabetes and obesity rates on a global scale.

Despite being promoted as health-based products, most protein bars are enriched with sugar, which may refrain potential purchasers from buying them, thus adversely impacting the protein bars market.

A study conducted in 2023 stated that specific protein bars, mainly the leading brands, include more sugar than protein in a few cases. For example, a prominent protein bar contains approximately 20 grams of sugar, which is more than the average candy bar.

In 2024, a lawsuit against the PepsiCo company claimed that their protein bars 'Gatorade' misinformed customers about their health benefits. Protein bars promoted as muscle recovery contained higher sugar levels than marketed, thus resulting in adverse health impacts like weight gain. This presents rising consumer disappointment, impacting future consumer choices.

Opportunities

• Growing demand for minimal ingredient and clean-label products to positively impact the protein bars market growth

Customers are actively seeking products with transparent, simple, and recognizable ingredients. Clean-labeled protein bars that do not contain preservatives, artificial additives, and sweeteners are gaining prominence. Companies that highlight clear labeling and natural ingredients can attract health-conscious consumers.

RXBAR, a prominent brand in the protein bars industry, is famous for its simple ingredient list. It has been intensifying its market share with 'No B.S' branding, underlining its whole and clean food ingredients. This message has complied with consumer demand and the company's success, resulting in future investment in clean-labeled products.

Challenges

• Growing consumer preference for natural ingredients and whole foods constrains the growth of the protein bars market

As consumers shift towards minimally processed and whole foods, protein bars, mostly pictured as processed snacks, are experiencing increased competition from natural protein sources like dairy, meats, and legumes. This preference for whole foods is restricting the global protein bars market growth, mainly those made with artificial sweeteners and synthetic ingredients.

In the United Kingdom, growing Gen Z groups prefer natural sources of protein over processed snacks, such as protein bars. Several reports also said that younger customers favored high-protein whole foods over protein bars like dairy products, chicken, and eggs as a part of the growing trend for natural eating. This may offer more challenges for companies dependent on processed protein bars.

Report Scope

Segmentation Analysis

The global protein bars market is segmented based on type, protein source, distribution channel, and region.

Based on type, the global protein bars industry is divided into sports nutritional bars, meal replacement bars, and others. The sports nutritional bars segment held a substantial market share in 2023. It will continue to lead owing to growing demand from fitness enthusiasts and athletes, convenience for active lifestyles, and marketing and branding focus. These bars are specially formulated to satisfy the nutritional needs of fitness enthusiasts and athletes. They offer high protein required for muscle recovery and energy during vigorous physical activities.

Gym freaks, athletes, and busy people mostly need a convenient and quick source of energy and protein that can be consumed anytime. Several prominent brands like Quest, RXBAR, and Clif Bar emphasize marketing efforts on fitness and athletes, thus positioning their stuff for boosting muscle recovery and improving athletic performance and fitness.

Based on protein source, the global protein bars market is segmented as animal- and plant-based protein bars. The animal-based protein bars segment is expected to hold a considerable market share over the coming years.

Earlier, protein bars used animal products like casein and whey. They are favored for their total amino acid profiles and are famous among fitness enthusiasts and athletes. Nonetheless, with the growing number of plant-based diets, the prominence of animal-based diets is being challenged.

Based on distribution channel, the global market is segmented as hypermarkets & supermarkets, convenience stores, online, and others. The hypermarkets and supermarkets segment registered a remarkable market share in the past years and is projected to capture a higher share in the future as well. The key reasons for the market growth include wider reach and product variety. The key retail chains operate multiple outlets on a global scale, offering broader accessibility to customers. These stores offer various protein bar flavors and brands, satisfying different consumer choices.

The online segment is expected to lead notably, with customers embracing the ability to compare prices and products and the convenience of home delivery.

Regional Analysis

• North America to witness significant growth over the forecast period

North America held a notable share of the global protein bars industry in 2023 and is projected to maintain its lead over the estimated period. The key propellers of the regional market include a strong fitness and health culture, growing awareness of protein benefits, and expanding product variety.

North America, especially the United States, has a strong fitness and health culture with an elevating demand for high-protein snacks among fitness enthusiasts, athletes, and health-conscious groups. The rising awareness of the advantages of protein for muscle building, weight management, and recovery fuels the demand for these bars in the region. Moreover, a broader range of protein bars satisfies a diverse consumer base.

Europe is predicted to progress as the second-leading region in the global protein bars market, owing to key factors like rising health consciousness, the growing prominence of sports and fitness, and demand for clean-label and plant-based products. Europeans are actively shifting towards better dietary habits and healthier lifestyles, comprising of convenience and high-protein snacks to aid weight management and fitness goals.

The rising interest in sports nutrition and fitness, particularly among Gen Z and millennials, is increasing the demand for protein bars in the region. The region is also a leading plant-based protein bar market since most consumers seek vegetarian and vegan diets. This inclination is fueling the growth of protein bars manufactured from plant sources, such as hemp, pea, and soy proteins. The growing demand for clean-label food products that do not contain artificial additives is also fueling the industry’s growth.

Competitive Analysis

The global protein bars market is led by players like

• Quest Nutrition
• Clif Bar & Company
• RXBAR
• KIND Snacks
• MusclePharm
• Orgain
• Premier Protein
• Pure Protein
• GoMacro
• Health Warrior
• Bulletproof
• Oh Yeah! Nutrition
• Epic Provisions
• ZonePerfect
• LaraBar

Key Market Trends

• Functional and personalized nutrition:

There is an emerging trend for protein bars that satisfy certain dietary needs like high-protein, keto, or low-carb options. In addition, bars designed for certain functions, such as energy, muscle recovery, and weight management, are gaining attraction on a global scale.

• Growth of E-commerce:

The online retail channel for these nutritional bars is speedily progressing, impacted by the rising shopping convenience, direct-to-consumer brands, and subscription services. Individuals can easily access a broad range of dietary products with enhanced deals via online platforms.

The global protein bars market is segmented as follows:

By Type Segment Analysis

• Sports Nutritional Bars
• Meal Replacement Bars
• Others

By Protein Source Segment Analysis

• Animal-Based Protein Bars
• Plant-Based Protein Bars

By Distribution Channel Segment Analysis

• Hypermarkets & Supermarkets
• Convenience Stores
• Online
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America