Europe Energy Bar Market - Segmented by Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Europe energy bar market is expected to reach USD 689 million by 2023 witnessing a CAGR of 4.7%, during the forecast period, 2018-2023. The Europe energy bar volume sale is expected to witness a fastest CAGR of 3.1%, during the forecast period. Energy bar is still a niche category in Europe, which accounts for only 14% of snack bar sale.
UK, Portugal, Belgium and Germany are the most significant market owing to a high preference for health & wellness snack bar. Energy bars are the supplement bars composed of cereals and high energy-providing nutrients such as protein, carbohydrates, vitamins, minerals, and other ingredients, which provide instant energy to the body. Energy bar market includes sports nutrition bars and snack bars designated to meet both daily and sports nutrition needs. Growing demand for organic snacking, indulgence, meal replacement, on-the-go snacking are various factors fueled the energy bar market growth.
Organic Energy Bar in High Demand
Growing awareness of various health effects of artificial additives, such as color, flavor, sweeteners, and preservatives accelerated the demand for an organic energy bar. Europe is the most significant market for organic food products with sales crossed 36.8 billion USD in 2015. Germany, UK, Italy, and France are the top organic food market in EU. Organic biscuit and snack bar sales in Germany is expected to reach 24.5 million by 2020. Increased consumer demand for the nutritious product and rising clean label claims on product accelerated the market growth in the region. Product launch with various label claim such as “no artificial additive,” “high or added fiber” and “reduced sugar” achieved strong growth in the past five years. The organic energy bar is priced higher than a conventional bar. Thus, economic downturn affects the sale.
Consumers are increasingly going health conscious when it comes to bite in between meals. Featuring healthy benefit with convenience and nutritional component while on-the-go snacking fueled the nutrition bar market. Health & Wellness is the key trend driving dietary snack bar consumption pattern. High in energy and fiber content with clean label claim offers potential growth opportunity owing increased consumer concern for natural ingredients.
Supermarkets and Hypermarkets led the sale with a share of more than 50% in the distribution channel. Expanding retail chain in Eastern Europe offer a potential growth opportunity to the market. Online retail grew faster at a rate of 7%, during 2012-2017, in Germany. France is the top online retail channel in the Europe for nutritional bar sale.
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