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Asia-Pacific Energy Bar Market - Segmented by Distribution Channel and Geography – Growth, Trends, and Forecast (2018 - 2023)

Asia-Pacific Energy Bar Market - Segmented by Distribution Channel and Geography – Growth, Trends, and Forecast (2018 - 2023)

The Asia-Pacific energy bar market is expected to reach USD 845 million by 2023 at a CAGR of 5.4%, during the forecast period. The Asia-Pacific energy bar volume sale surpassed 23 million Kg in 2015 with Japan the largest market. Energy and nutrition bar continued its growth during the forecast period.

Energy bar market includes sports nutrition bars and snack bars designated to meet both daily and sports nutrition needs. Increased demand for health & wellness snacking, increased demand for processed food, meal replacement, rising per capita income are various factors fueled the Energy Bar market growth.

High Protein Snack in Demand

Consumers are always on the move due to the busy lifestyle, which created a demand for convenient on-the-go snack option. The demand for a healthier snack is growing in the region with more preference for high protein and nutrition intact snack. About 40% of metro consumers in Indonesia seek snack that is rich in protein, with the ratio 38% in Thailand. India is the fastest growing market for energy bar consumption with sales forecasted at double-digit growth rate. The annual snack sales in Asia-Pacific are USD 46 billion, which is growing at 4% annually. Confectionery sales in the region surpassed a value sale of USD 38 billion in 2015, with snack bar witnessing the fastest growth rate. Taste and health consideration and consumers mainly drive the demand not willing to compromise on either. Asia-Pacific is lagging behind in protein nutrition. For instance, the global consumers buy an average of 18g a day from packaged food & beverage products while Asia bus only 9 g a day. Consumers in China, India, Indonesia, and Vietnam are looking for more protein their diet for muscle building, weight management/losing weight and satiety.

Innovation the Key Factor Accelerating Sales

Australia and New Zealand are the two significant markets driving energy bar market growth in Asia-Pacific. High protein innovation, convenient pack size and packaging material, as well as simpler ingredients on the label are on the rise among consumers. On-the-go snacking is the primary energy bar market trends. Recently the US Company launched new pack size energy bar in Australia under the naked bear brand, with bear illustration on the pack. The 65 g energy bar is available in twin pack offers value for money to consumers. Companies are innovating product targeted to sports and athletes that helps maximize the athlete performance and optimize endurance. Demand for natural ingredients and flavors, such as coffee, fruit free flavors, cinnamon, caramel, cocoa are becoming popular in the region.

Japan and Australia are the largest markets for energy bar market with combined sales holding more than 80% of the APAC sales. Energy bar market size in other countries are at the nascent stage with India recorded the fastest growth rate. Supermarket/hypermarket is the leading energy bar sales channel holding around 50% of the market share followed by convenience stores. Product promotion, discounts and offers in the supermarkets has triggered the energy bar market demand, offering tough competition to convenience and grocery stores. Many multination brands are entering the market through online retail offering future energy bar market opportunity. The number of C-Stores operated by top five retailers in the Philippines doubled in the past five years. Mini supermarkets and domestic players, such as D’Mart in India, SM Retail in Philippines, and VinMart in Vietnam are expanding their presence.

Key Developments

  • Feb 2018 - Food for Health launched Coffee & Cacao Fruit Free Bars, which is Low FODMAP certified. The product is a fructose free and gluten-free in dark choco and coffee flavor.
  • Feb 2018 - IRONMAN® TRIATHLON launched energy bars in four different flavors targeting athletes. The product is available online in cherry cranberry, banana cinnamon, salted caramel, and rich chocolate flavor.
The Asia-Pacific Energy Bar market is competitive with large number of existing multinational players. Innovative product launch and clean label ingredients are the various strategy adopted by these players. Private label brands provides tough competition to the existing players with their flavored product offerings.

Major players - NESTLÉ S.A, NATURE'S BOUNTY CO., KELLOGG NA CO, GLAXOSMITHKLINE PLC, GENERAL MILLS, INC., CLIF BAR & COMPANY, amongst others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics, along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
  • Market value (USD Million) and volume (Kg Million) data for each segment and sub-segment
  • Distribution Channel sales Analysis by Value
  • Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel
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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Scope of the Market
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trends
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Innovation in Product and Packaging
3.2.1.2 Changing Lifestyle and Demand for Healthy Snack
3.2.1.3 Increased Demand of On-the-go Snacking
3.2.2 Restraints
3.2.2.1 Competition from Cereal Bar
3.2.3 Opportunities
3.2.4 Porter's Five Forces Analysis
3.2.4.1 Bargaining Power of Suppliers
3.2.4.2 Bargaining Power of Buyers
3.2.4.3 Threat of New Entrants
3.2.4.4 Threat of Substitute Products and Services
3.2.4.5 Degree of Competition
4. Market Segmentation
4.1 By Distribution Channel
4.1.1 Convenience Stores
4.1.2 Specialist Retailers
4.1.3 Supermarkets and Hypermarkets
4.1.4 Vending Machines
4.1.5 Online Retail
4.1.6 Variety Stores
4.1.7 Other Distribution Channel
4.2 By Geography
4.2.1 Asia-Pacific
4.2.1.1 China
4.2.1.2 India
4.2.1.3 Japan
4.2.1.4 Australia
4.2.1.5 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Market Share Analysis
5.2 Strategy Adopted by Key Players
5.3 Most Active Companies in the Past Five Years
6. List of Company Profiles
6.1 Overview
6.2 Products & Services
6.3 Financials
6.4 Key Developments
6.5 Strategies Adopted
6.6 SWOT Analysis of Major Five Players
7. Companies Covered
7.1 General Mills, Inc.
7.2 The Kellogg Company
7.3 QuestNutrition LLC
7.4 Probar LLC
7.5 Nutrition, Inc. (Pureprotein)
7.6 Clif Bar & Company
7.7 The Gatorade Company
7.8 PowerBar, Inc.
7.9 Abbott Nutrition Manufacturing Inc.
7.10 Hormel Foods Corporation
7.11 Glaxosmithkline Plc
7.12 NuGo Nutrition
8. Appendix
8.1 Disclaimer
8.2 Sources
LIST OF TABLES
1: Energy Bar Market: Revenue in USD million, by Country, Asia-Pacific, 2015-2023
2: Energy Bar Market: Revenue in USD million, by Distribution Channel, Asia-Pacific, 2015-2023
3: Energy Bar Market: Revenue in USD million, by Distribution Channel, India, 2015-2023
4: Energy Bar Market: Revenue in USD million, by Distribution Channel, China, 2015-2023
5: Energy Bar Market: Revenue in USD million, by Distribution Channel, Japan, 2015-2023
6: Energy Bar Market: Revenue in USD million, by Distribution Channel, Australia, 2015-2023
7: Energy Bar Market: Revenue in USD million, by Distribution Channel, Rest of Asia-Pacific, 2015-2023
8: Energy Bar Market: Volume in million Kg, by Country, Asia-Pacific, 2015-2023

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