About Protein Bar
Protein bars are food supplement bars that contain protein. These bars are aimed mainly at consumers leading an active lifestyle, for example: Athletes and sports persons. It can also be taken as a snack item or as a meal replacement solution. In the last few years, the number of health-conscious consumers has increased worldwide mainly due to increasing health problems like: obesity, poor nutrition, and weak immune systems.
Technavio’s analysts forecast the global protein bar market to grow at a CAGR of 7.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global protein bar market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Protein Bar Market 2017-2021
Technavio recognizes the following companies as the key players in the global protein bar market: Kellogg, General Mills, Premier Nutrition, Quest Nutrition, and thinkThin.
Other Prominent Vendors in the market are: Grenade, Forward Foods, YouBar, OhYeah! Nutrition, Atkins Nutritionals, Abbott, Mars, Clif bars, KIND Snacks, NuGo Nutrition, and Orgain.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is marketing initiatives for product promotions. Some players like Premier Nutrition, thinkThin, and others use integrated marketing communication to sell their products. They utilize traditional print media and social media, for example: YouTube, to market the health benefits of protein bars. Many players are currently launching various campaigns to promote their protein bar offerings.”
According to the report, one driver in the market is convenience factor. With the changing times, traditional meal time is gradually getting blurred as consumers are increasingly adopting snacking culture. They often look for RTE (ready-to-eat) food products that fulfill daily nutrition requirements. With the increase in the on-the-go food trends, protein bars are becoming the go-to food choice due to the convenience factor and high-nutrition. These protein bars are a convenient snack option for busy consumers who look for a healthy snack that is also filling. Snacking between meals by using protein bars avoids people to feel famished and hit starvation mode
Further, the report states that one challenge in the market is product recalls. Another challenge to the growth of the market is product recalls by players citing various issues. A product recall can put the reputation of the company and the consumer trust and loyalty at stake. It can even render immense financial burden to the company. Recently, many popular protein bar players recalled their product offerings. For instance, in March 2017, Pro Sports Club announced the recall of nearly 37,000 protein bars as they were made by the soy butter from SoyNut Butter, who recalled its product offerings after they were linked to an E.
Kellogg, General Mills, Premier Nutrition, Quest Nutrition, thinkThin, Grenade, Forward Foods, YouBar, OhYeah! Nutrition, Atkins Nutritionals, Abbott, Mars, Clif bars, KIND Snacks, NuGo Nutrition, and Orgain.
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