Organic Energy Bar Market Outlook
The global organic energy bar market is driven mainly by the rising demand for healthy food among city dwellers, which plays a vital role in the growth of the market. Awareness of the contribution of dietary products to healthy foods is expected to play a leading role in the global organic energy market over the forecast period. Market Research Future has estimated that the global Organic Energy Bar Market is projected to grow at a significant rate of 9.12% from 2020 to 2027 to reach a market value of USD 540 million by the end of 2027. Globally, there is a rise in the popularity of sports and athletics activities among the youths.
The increasingly favorable social perception of organic food is expected to be a significant driver of the global organic energy bar market during the forecast period. Although organic food has no significant improvement in nutritional value and studies have shown that organic farming is not significantly better for the environment than conventional agriculture, the popularity of natural products has increased, especially among high-income demographic groups. increasingly prefer biologically labeled foods.
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Innovation in the production of energy bars with various flavors and compositions is probably an essential strategy for participants in the global organic energy bar market during the forecast period as price competition is unlikely to arise in the market. The intensification of gluten intolerance-related demographics may also play a critical role in the growth of the global organic energy bar market during the forecast period as companies that meet these demographic criteria do not make significant gains over their competitors. Trends of on-the-go snacking and the popularity of fusion flavors are some of the key reasons responsible for the growth of the organic energy bar market.
On the other hand, the negative impact of product distribution challenges, product recalls, and available substitutes might hamper the growth of the global market.
Segmentation
The global organic energy bar market size is segmented on various aspects such as category, ingredients, and distribution channel.
The category segment is classified into conventional and gluten-free.
Based on ingredients, the global is bifurcated into fruits, cereals, nuts and seeds, sweeteners, and others. The cereals energy bar subsegment dominates the global organic energy bar market. The growing acceptance of organic energy bars and the development of fruit-flavored bars is anticipated to propel the demand in the market.
Moreover, the global organic energy bar market is also classified based on the distribution channel into store-based and non-store-based. Further, supermarkets, convenience stores, retailers, and others are sub-segments of store-based segments in the global organic energy bar market.
Regional Insights
North America is anticipated to influence the global organic energy bar market during the forecast period, owing to the increasing demand for organic food in North America.
Europe is also the highest consumer of organic products and is expected to sustain its significant portion in the global organic energy bar market in the coming period. The Asia Pacific is projected to reach a peak in terms of growth rate owing to the high demand for organic energy bars, which happen to be a novelty in many areas of the region. China might lead in the Asia Pacific market based on consumption and the rapidly evolving retail sector.
Major Players
Manufacturers of organic energy bars have gained a significant drive owing to the growing trend of consuming functional foods. Some of the leading players contributing with their products include Clif Bar & Company, General Mills Inc., Mehret Bar, TAOS MOUNTAIN ENERGY FOODS, LLC, BumbleBar Inc., TRIUM INNOVATIONS INC., Fullwell Mill Ltd, CHIMPANZEE NATURAL NUTRITION, Haco Holding AG, Atkins Nutritionals, Inc., Quest Nutrition, LLC, McKee Foods Corporation, Kellogg Company, Quaker Oats Company, PowerBar, Inc., and Abbott Nutrition Manufacturing Inc.
Industry Updates
In Sept 2019, Taos Mountain Energy Bars, A Mexico-based energy bar manufacturer has rebranded itself as Taos Bakes and intends to expand through its subscription service. Taos Bakes worked jointly with Albuquerque-based Ripe Inc. for the rebranding project. Its latest packaging features bright and radiant colors and haikus printed on the back. Jakob Schiller, CMO said the new name change and branding reflect the company’s unique business model that is planned to venture beyond the energy bar market.
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