Vegan Protein Bars Market
Vegan Protein Bars Market Size, Share and Trends Analysis Report, By Ingredients (Soy, Pea, Nuts, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Drug Stores & Pharmacies, Health & Wellness Stores, and Online Retailing), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Vegan protein bars market is anticipated to grow at a CAGR of 11.2% during the forecast period. The consumer inclination toward plant-based food products owing to the increase in food allergies is one of the major factors driving the demand for vegan protein bars. As per the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of allergy. Food allergies are estimated to affect 4% – 6% of children and 4% of adults. Symptoms of an allergic reaction may involve the skin, the gastrointestinal tract, the cardiovascular system, and the respiratory tract. Vegan protein bars contain only protein from plant sources such as peas, brown rice, hemp, and soybean. With the increasing number of health clubs owing to emerging fitness trends and rising awareness about protein bars, the vegan protein bar market is expected to witness significant demand during the forecast period.
Apart from these, increasing marketing campaigns for vegan protein bars as a substitute for meal replacement, by the fitness clubs will further aid in the market growth. However, the availability of substitutes at a low price may hamper the market growth. Whereas, the rising health initiatives by several governments and international organizations across the globe will create new aspects for industry growth during the forecasted period. Market players operating in the market are concentrating on product launches while enhancing nutritional values. For instance, in November 2019, PROBAR LLC, launched two delicious new PROBAR Meal Bar flavors, Blueberry Muffin and S’mores. The bars are 100% plant-based, gluten-free, and crafted with whole superfoods for great taste.
Segmental Outlook
The global vegan protein bars market is segmented based on ingredients and distribution channels. Based on ingredients, the market is segmented into soy, pea, nuts, and others. Among these, the nut segment is predicted to generate a lucrative share in the global vegan protein bars market during the forecast period. The growing soy allergies have shifted consumer preference toward nut-based vegan protein bars. Nuts are a good source of protein, healthy (poly and monounsaturated) fats, fiber, antioxidants, and a range of vitamins and minerals. Nuts also support the prevention of several chronic diseases. This is the major factor; manufacturers are adding nuts in protein bar manufacturing to provide additional health benefits along with better taste. Similarly, based on distribution channels, the market is classified into supermarkets/hypermarkets, convenience stores, drug stores & pharmacies, health & wellness stores, and online retailing.
Regional Outlook
Geographically, the global vegan protein bars market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is expected to be a promising market in terms of revenue generation. Stringent government regulations working for animal protection have aided the market growth in the region. Apart from these, consumer inclination towards vegan products such as protein bars among sports athletes has surged their demand and production. Consumers prefer buying protein bars for various purposes, such as weight management, improving muscle mass, and increasing energy, which in turn drive the market size.
Global Vegan Protein Bars Market Growth, By Region 2022-2028
North America Region Holds Prominent Share in the Global Vegan Protein Bars Market
Geographically, North America region is expected to contribute the highest share of vegan protein bars market growth. The US is one of the largest markets for protein bars in the region. The increasing number of fitness centers in North America is driving the market growth in the region. The growing intolerance toward animal protein in consumers is likely to surge the demand for vegan protein bars and is expected to offer promising growth opportunities for the new players targeting the vegan protein bars. As per the Asthma and Allergy Foundation of America, more than 50 million people in the US experience various types of allergies including food allergies each year. In 2018, 4.8 million (6.5%) children under 18 years of age had food allergies. Milk is the most common allergen for children, followed by egg and shellfish. Therefore, consumers are shifting toward plant-based or vegan food product options.
Market Players Outlook
The major players operating in the global vegan protein bars market include Hammer Nutrition, PROBAR, LLC, NuGo Nutrition, and Nestle S.A., among others. The market players contribute significantly to the growth of the market by adopting various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in October 2020, Bhu Food, a San Diego-based superfood company launched refrigerated, organic Keto protein bars. The launch of products at Target and Walmart locations amplified the company’s mission for growing health needs, on a massive scale.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vegan protein bars market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Recovery Scenario of Global Vegan Protein Bars Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Vegan Protein Bars Market by Ingredient
4.1.1. Soy
4.1.2. Pea
4.1.3. Nuts
4.1.4. Others (Quinoa, Brown Rice, and Vegetable)
4.2. Global Vegan Protein Bars Market by Distribution Channel
4.2.1. Supermarkets/Hypermarkets
4.2.2. Convenience Stores
4.2.3. Drug Stores and Pharmacies
4.2.4. Health and Wellness Stores
4.2.5. Online Retailing
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East & Africa
6. Company Profiles
6.1. BHU Foods
6.2. Clif Bar & Co.
6.3. General Mills Inc.
6.4. Glanbia Nutritionals
6.5. GNC Holdings, Inc.
6.6. Kellogg Co.
6.7. Manitoba Harvest
6.8. Nestle S.A.
6.9. NuGo Nutrition
6.10. Probar, Llc
6.11. Raw Rev
6.12. Rise Bar
6.13. Simply Protein (Wellness Natural Inc.)
6.14. The Bountiful Co.
6.15. Verb Energy Inc.
1. GLOBAL VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY INGREDIENTS, 2021-2028 ($ MILLION)
2. GLOBAL VEGAN SOY PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL VEGAN PEA PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL VEGAN NUTS PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL VEGAN PROTEIN BARS MADE WITH OTHER INGREDIENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
7. GLOBAL VEGAN PROTEIN BARS IN SUPERMARKETS/HYPERMARKETS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL VEGAN PROTEIN BARS IN CONVENIENCE STORES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL VEGAN PROTEIN BARS IN DRUG STORES AND PHARMACIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL VEGAN PROTEIN BARS IN HEALTH AND WELLNESS STORES MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL VEGAN PROTEIN BARS IN ONLINE RETAILING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. NORTH AMERICAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY INGREDIENTS , 2021-2028 ($ MILLION)
15. NORTH AMERICAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
16. EUROPEAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. EUROPEAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY INGREDIENTS, 2021-2028 ($ MILLION)
18. EUROPEAN VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY INGREDIENTS, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
22. REST OF THE WORLD VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. REST OF THE WORLD VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY INGREDIENTS, 2021-2028 ($ MILLION)
24. REST OF THE WORLD VEGAN PROTEIN BARS MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. GLOBAL VEGAN PROTEIN BARS MARKET SHARE BY INGREDIENTS , 2021 VS 2028 (%)
2. GLOBAL VEGAN PROTEIN BARS MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
3. GLOBAL VEGAN PROTEIN BARS MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL VEGAN SOY PROTEIN BARS MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL VEGAN PEA PROTEIN BARS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL VEGAN NUTS PROTEIN BARS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL VEGAN PROTEIN BARS MADE WITH OTHER INGREDIENTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL VEGAN PROTEIN BARS IN SUPERMARKETS/HYPERMARKETS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL VEGAN PROTEIN BARS IN CONVENIENCE STORES MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL VEGAN PROTEIN BARS IN DRUG STORES AND PHARMACIES MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL VEGAN PROTEIN BARS IN HEALTH AND WELLNESS STORES MANAGEMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL VEGAN PROTEIN BARS IN ONLINE RETAILING MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. US VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
14. CANADA VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
15. UK VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
16. FRANCE VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
17. GERMANY VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
18. ITALY VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
19. SPAIN VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
20. REST OF EUROPE VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
21. INDIA VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
22. CHINA VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
23. JAPAN VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
24. SOUTH KOREA VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF ASIA-PACIFIC VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD VEGAN PROTEIN BARS MARKET SIZE, 2021-2028 ($ MILLION
