Overview:
The Protein Bars Market is predicted to register a CAGR of 7.24% during the 2018 to 2024 forecast period. A Market Research Report predicts a US$1,820.6 million valuation of the market by 2024. The growth is anticipated to be supported by the unorganized retail sector. Based on the report, the high cost associated with products will drive growth in the market in the coming years till 2024. However, the rapid change in consumer perception will negatively affect the Protein Bars Market’s Growth. The unpredictable behavior and changing eating habits is anticipated to be another factor which could turn out to be a threat to companies during 2018 to 2024. The market report based on primary and secondary data reveals that distribution channel, product type, and category segments will witness a healthy growth till 2024. While the lack of skilled professionals will support the market during the forecast period and the availability of substitutes will also help the market globally, the growth could be affected by the presence of alternatives which could hinder business activities. The robust presence of local vendors is also expected to be responsible for stalled market growth till 2024.
Market Segmentation:
The Protein Bars Market is categorized into smaller segments such as Distribution Channel, Product Type, and category in order to analyze the market. The distribution channel, product type, and category segments are then categorized further. The distribution channel segment is categorized into store-based and non-store-based. Analysts have studied these sub segments. Based on product type, the global market is further segmented into energy bars, meal replacement bars, snack bars, and others. Based on the study of these segments, analysts have shared market forecasts. On the basis of category, the market is segmented into smaller segments including gluten-free, multi-claim, organic, vegan, and others.
Growing health consciousness among the expanding populace will drive growth in the market during the forecast period 2018 to 2024. Across all the segments including distribution channel, product type, and category, the global market for Protein Bars will witness a healthy growth. However, factors such as the availability of cheaper substitutes could become a threat to the market’s growth. Economic activities surrounding the protein bars sector will also get benefitted from the growing adoption of healthy diet. Businesses across protein bars have been thoroughly studied and analyzed by protein bars industry’s expert researchers. Findings have been published in the protein bars market research report with forecasts till 2024.
Regional Overview:
The Protein Bars Market, apart from the product and service-related segments is spread across the world. The regional markets of Protein Bars covered in the report are North America, Europe, Asia-Pacific, the Middle East and Africa as well as the rest of the world. The growing popularity of a healthy diet is set to be a key growth factor for businesses active in the protein bars space. The market across North America is segmented into the United States, Mexico, Canada, and others. Regional markets in the protein bars sector across the European market are segmented into Germany, Italy, the United Kingdom, and France. The market in the APAC region is segmented into India, China, Japan, and others. Protein Bars-based businesses across the world will be supported by the growing need to boost immunity during the forecast period 2018 to 2024. However, the growth could be hindered by the unpredictable behavior. The market is also segmented into the Middle East and Africa regions among others.
Access Report Details @ https://www.marketresearchfuture.com/reports/protein-bars-market-5417
Competitive Landscape:
Protein Bars-Based Companies have been studied and profiled in the Market Research Report. The protein bars market along with its segments and key players has been studied. Protein Bars business analysis is done to identify competitors and their strategies. The Global Protein Bars Market Research Report covers core values, strengths and other key factors about protein bars related companies. competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. The growing awareness about chemical-free healthy products is set to help the market during the forecast period 2018 to 2024.
The market is anticipated to reach a higher valuation of US$1,820.6 million with a CAGR of 7.24%. However, changing eating habits of consumers will prove to be affecting the Protein Bars Market Growth. By 2024, Europe is expected to have a market valuation of USD 539.3 million. Because of the growing popularity of sports and fitness, the United States is one of the most profitable markets. In 2018, the area had a share of the market of 38.14 percent.
Industry News:
ONE Brands, a manufacturer of low-sugar, high-protein bars, is being acquired by Hershey to boost its position in the snacks market. The $397 million acquisition is scheduled to close in Q4 2019, subject to standard regulatory approvals and other closing conditions. It was revealed only a week after the U.S. chocolate giant made a minority stake in Irish protein bars firm Fulfil. Hershey aims to leverage the recently purchased firm to include a compelling offering of protein bar products, saying that ONE Brands would complement its current Oatmega and Fulfil companies, which were acquired as part of the Amplify Snack Brands merger in 2018.
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