Organic Energy Bar Market Current Scenario 2019 | Size, Value Share, Business Statistics, Growth, Regional Analysis by Forecast to 2024
Organic Energy Bar Market Research Report by Category (Gluten-Free and Conventional), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores and others) and Non-Store-Based] and Region (North America, Europe, Asia-Pacific and the Rest of the World) – Forecast till 2024
pune, India – September 30, 2019 /MarketersMedia/ —
Market Overview
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 to reach a CAGR of 6.1 during 2017-20
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.
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 in their competitors. Trends of on-the-go snacking and popularity of fusion flavors are some of key reason responsible for the growth of the organic energy bar market. On the other hand, the negative impact of product distribution challenges, product recalls, available substitutes might hamper the growth of the global market.
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Major Players
Manufacturers of the 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 product 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.
Segmentation
The global organic energy bar market 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. Cereals energy bar subsegment dominates the global organic energy bar market. The growing acceptance of the organic energy bars and 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.
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Regional Insights
North America is anticipated to influence the global organic energy bar market during 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. 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 on the basis of consumption and rapidly evolving retail sector.
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