North America Nutritional Bars Market Poised for Growth at 4.6% CAGR, Projected to Reach US$ 2,881.06 Million by 2028
According to Business Market Insights, the North America nutritional bars market, valued at US$ 2,200.46 million in 2022, is expected to reach US$ 2,881.06 million by 2028, registering a compound annual growth rate (CAGR) of 4.6% from 2022 to 2028. The market’s expansion is primarily driven by increasing consumer preference for healthy snacking, particularly among millennials, and continuous product innovations by manufacturers.
Key Market Drivers
- Rising Health Consciousness Among Millennials
The millennial generation places a high priority on health and wellness, emphasizing proper nutrition, exercise, and overall well-being. Social media further reinforces their desire to maintain a healthy and active lifestyle. The increasing number of fitness centers, gyms, and health clubs has fueled the demand for nutritional bars as a convenient and nutritious snacking option. These bars, rich in proteins, omega-3 fatty acids, and fiber, are preferred over traditional snacks due to their lower sugar and additive content.
Nutritional bars help with muscle recovery, protein synthesis, metabolism enhancement, and glucose level regulation. In addition to protein, many of these bars are fortified with essential vitamins and immunity boosters, making them an ideal choice for individuals with busy schedules looking for quick and healthy snacks.
North America Nutritional Bars Report Scope
| Report Attribute | Details |
| Market Size in 2022 | US$ 2,200.46 Million |
| Market Size by 2028 | US$ 2,881.06 Million |
| Global CAGR (2022 – 2028) | 4.6% |
| Historical Data | 2020-2021 |
| Forecast Period | 2023-2028 |
| Segments Covered | By Type: Protein Bars, High-Fiber Bars By Category: Conventional, Gluten-Free By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Online Retail |
| Regions and Countries Covered | North America (US, Canada, Mexico) |
| Market Leaders & Key Companies | Clif Bar & Co, General Mills Inc, Kind LLC, Mars Inc, Perfect Bar LLC, Premier Nutrition Co LLC, Rise Bar Inc, The Kellogg Co, The Quaker Oats Co, The Simply Good Foods Co |
Market Challenges
Availability of Substitutes
Despite their popularity, nutritional bars face competition from alternative healthy snacks such as fruit-based snacks, granola, and nut-based products. The presence of these substitutes may pose challenges to market growth.
Market Segmentation
By Type:
- Protein Bars: The dominant segment, accounting for 70.5% of the market share in 2022 (US$ 1,550.51 million). Expected to reach US$ 2,033.40 million by 2028, growing at a 4.6% CAGR.
- High-Fiber Bars and Others: Comprise the remaining market share, catering to consumers seeking alternative nutritional benefits.
By Category:
- Conventional: Held a 71.7% market share in 2022, valued at US$ 1,578.42 million, and projected to reach US$ 2,049.38 million by 2028, growing at a 4.4% CAGR.
- Gluten-Free: Gaining traction among health-conscious consumers and individuals with dietary restrictions.
By Distribution Channel:
- Supermarkets & Hypermarkets: Largest segment, holding a 39.3% share in 2022 (US$ 864.96 million), projected to reach US$ 1,117.28 million by 2028, growing at a 4.4% CAGR.
- Convenience Stores, Online Retail, and Others: Contribute to the overall market, with online retail witnessing increasing adoption due to the growing preference for e-commerce shopping.
By Country:
- United States: Dominated the regional market with a 74.8% share in 2022, valued at US$ 1,646.40 million. Expected to reach US$ 2,143.21 million by 2028, exhibiting a CAGR of 4.5%.
- Canada & Mexico: Also contribute to market growth with increasing demand for health-conscious snacking options.
Key Market Players
Leading companies operating in the North America nutritional bars market include:
- Clif Bar & Co
- General Mills Inc.
- Kind LLC
- Mars Inc.
- Perfect Bar LLC
- Premier Nutrition Co LLC
- Rise Bar Inc.
- The Kellogg Co.
- The Quaker Oats Co.
- The Simply Good Foods Co.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ ๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐ – https://www.businessmarketinsights.com/sample/BMIRE00028067
Conclusion
With the growing demand for healthy snacking options, particularly among millennials, the North America nutritional bars market is set for steady growth. The rising health-conscious population, increasing gym memberships, and continued product innovation will further propel market expansion. However, the availability of substitute products remains a key challenge that manufacturers must address through differentiation and strategic marketing initiatives.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Dรฉfense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Authorโs Bio:
Akshay
Senior Market Research Expert at Business Market Insights
