Protein Bar Market is anticipated to grow at a strong CAGR of 6.3% by 2024
Protein bars are targeted to people who primarily want a convenient source of protein that doesn t require preparation unless homemade . There are different kinds of food bars to fill different purposes. Energy bars provide the majority of their food energy calories in carbohydrate form. Meal replacement bars are intended to replace the variety of nutrients in a meal.
In 2017, the global Protein Bar consumption market is led by USA and USA is the largest region consumption market, accounting for about 60.14% of global consumption of Protein Bar.
Protein Bar downstream is wide and recently Protein Bar has acquired increasing significance in various fields of Bodybuilders, Pro/Amateur Athletes and others. Globally, the Protein Bar market is mainly driven by growing demand for Bodybuilders and Pro/Amateur Athletes. Bodybuilders and Pro/Amateur Athletes accounts for nearly 87.22% of total downstream consumption of Protein Bar in global.
Protein Bar can be mainly divided into Low Protein, Medium Protein and High Protein which Medium Protein captures about 49.03% of Protein Bar market in 2017. According to our research and analysis, manufacturers from USA are the major leaders in the international market of Protein Bar.
Global market is expected to witness significant growth on account of rising applications, so in the next few years, Protein Bar consumption will show a trend of steady growth. In 2024 the consumption value of Protein Bar is estimated to be 1966.21 million USD. On product prices, the slow downward trend in recent years will maintain in the future.
Protein Bar is still in its early development stage, there is huge development space and market to explore. Investing in this industry is feasible and wise choice.
According to this study, over the next five years the Protein Bars market will register a 6.3% CAGR in terms of revenue, the global market size will reach US$ 1760 million by 2024, from US$ 1220 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Protein Bars business.
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