Plant-Based Bars Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UK, July 9, 2024 /EINPresswire.com/ -- The global plant-based bars market is projected to grow from $5.15 billion in 2023 to $5.68 billion in 2024, at a CAGR of 10.4%. The market is anticipated to reach $8.27 billion by 2028, driven by the increasing popularity of sports and fitness activities, which promote the use of plant-based bars for their nutritional benefits and convenience.
Increasing Popularity of Sports and Fitness Activities Drives Market Growth
The increasing popularity of sports and fitness activities is a significant factor contributing to the growth of the plant-based bars market. These bars are often used for their convenience, portability, and nutritional benefits, supporting performance and recovery during physical activities. According to the Sports Business Journal, the number of active sports and fitness participants in the US increased from 229.7 million in 2020 to 232.6 million in 2021, indicating a growing market for plant-based nutritional products.
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Key Players and Market TrendsMajor companies such as General Mills Inc., Kellogg Company, and Orgain Inc. are driving market growth through product innovation and strategic partnerships . For instance, Aloha partnered with Terviva in March 2023 to launch a plant-based protein bar featuring Ponova oil, a sustainable and versatile vegetable oil derived from the Pongamia tree.
Trends in the Plant-Based Bars MarketKey trends include collaborations and partnerships, innovation in ingredients, adoption of regenerative agriculture, and the use of blockchain technology for transparency. Companies are also exploring alternative protein blends and sustainable packaging solutions to meet consumer demands.
Segments:• Type: Cereal And Granola Bars, Protein Bars, Energy Bars And Meal Replacement Bars, Fruit And Nut Bars, Other Types • Nature: Organic, Conventional • Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Other Distribution Channels
Geographical Insights: Global Market ExpansionThe plant-based bars market is experiencing global expansion, driven by rising health consciousness and the growing adoption of plant-based diets. Regions such as North America, Europe, and Asia-Pacific are witnessing significant market growth, with detailed insights into regional dynamics provided in the comprehensive report.
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Plant-Based Bars Global Market Report 2024 from TBRC covers the following information:1. Market size data for the forecast period: Historical and Future2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Plant-Based Bars Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plant-based bars market size, plant-based bars market drivers and trends, plant-based bars market major players, competitors' revenues, market positioning, and market growth across geographies. The plant-based bars market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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July 09, 2024, 11:10 GMT
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