Why is the Energy Bar Industry Climbing Heights?

The energy bar industry is dynamic and has come a long way in the recent years, expanding its creations to offer weight management, performance, functional, and nutrition aids. Lately, consumer psychographics and demographics have altered to a great extent, and flavours and designs have advanced. Today, energy boosting products are designed to provide magnificent flavours and textures—while offering a constantly emerging range of practical health benefits.

The energy bar sector trends reveal that over the next year the need for nutrition rich snacks is likely to skyrocket. Energy bar producers are currently analysing the consumer needs, such as low-sugar/clean-label protein bars or bars containing probiotics for better gut health, for offering the best products to their customers. They are focusing on creating a more alluring meal replacement that can drive their product sales to a great extent. Also, they are attempting to make energy bars for condition-specific requirements, which is likely to unlock bourgeoning opportunities for the energy bar market growth in the future years.

Why is the Demand for Energy Bars Booming?

Nowadays, people heading out for an outdoor workout, hike or, individuals striving to succeed through his/her shift are preferring to carry some grab-and-go snacks to energize their day. The energy bar industry is perceiving a gigantic growth mostly owing to progressively advancing lifestyles and the need for immediate energy doses amongst youths. Moreover, the boosting trend for handy snacks and healthy foods that are easy to grab, and that provide immediate energy are some other factors that are thriving the demand for energy bars. As per a report by Research Dive, the global energy bar market is expected to grow significantly and surpass $29,447.10 million in the 2021–2028 timeframe.

Recent Trends in the Energy Bar Industry

Consistently, energy bar makers are evolving their product formulations and designs to keep-up in the market. Some of the leading players of the global energy bar market include Quest Nutrition, General Mills Inc, Cliff Bar & Company, McKee Foods Corporation, NuGo Nutrition, Kellogg Company, Brighter Foods Ltd, Premier Nutrition Inc., Kind LLC, Probar LLC, and others. These players are focusing on developing strategies such as product development, mergers and acquisitions, partnerships, and collaborations to obtain a foremost position in the market. For instance,

• In October 2020, Kind, a leading manufacturer of snacks products, entered the energy bar industry with its latest product line that promises to offer sustained energy from 100% whole grains. The new product line is made using oats as the key ingredient and is available in 3 varieties: peanut butter, chocolate chunk, and dark chocolate peanut butter.
•  
• In November 2020, Yoga Bar, a foremost healthy foods company, launched a new range of nut butters, and also entered the Muesli segment and grabbed a significant market share of the Kelloggs brand.
   
• In July 2021, Clif Bar, an American company that produces energy foods and drinks, launched nut butter filled energy bars into the Australian market through itsu00a0 high-class distributor, Unique Health Products. The new product is available in 3 flavours: Chocolate Peanut butter, Peanut butter, and Chocolate Hazelnut Butter.

Covid-19 Impact and Future Viewpoint of the Market

The sudden outbreak of the coronavirus pandemic has affected the growth of the energy bar industry moderately as the demand surged, production slowed down, and supply chains got disrupted. Also, several food brands in different nations have taken an initiative to help other countries by providing energy bars in the crisis period. During the pandemic, the demand for different types of snacks spiked due to the growing need for easy means for nutrition and energy substitutes. As the significance for healthy food products increased amidst the pandemic, the market is experience moderate growth and is expected to boost in the coming years.