Market Size of North America Energy Bar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Energy Bar Market Analysis
During the time frame of the forecast, the North American energy bar market is expected to register a CAGR of 4.2%.
Growing demand for functional food, indulgence, meal replacement, and on-the-go snacking is the major factor fueling the energy bar market's growth in North America. People between the ages of 18 and 50 are more likely to eat energy bars than those 50 or older. This is because people in this age group live at a faster pace.
Further, an increased concentration of the gym-going population, which likes to maintain their health and fitness, along with a diverse population, is driving the demand for nutrition bars. Furthermore, the popularity of "clean label" and "free-from" products is leading the way in North America, especially in the United States, which is expected to play a major role in the energy bar market's growth in the upcoming years. The demand for organic products is shown by new trends in the North American energy bar market.
In general, people have the tendency to consume big meals three to four times a day. This has created a negative impact on people's health. People are eating multiple smaller meals throughout the day as a result of increased awareness and a shift in eating habits. These factors have given a boost to healthy foods and the replacement of meals with energy bars. However, as the energy bars are prepared with quality ingredients packed with instant energy-providing food materials, the high cost of the raw material, processing equipment, packaging, and high profit margins result in a higher retail price of the bars, thereby restraining the market's growth.
North America Energy Bar Industry Segmentation
An energy bar is a healthy snack with nutritional ingredients that boost energy and endurance. The North American energy bar market is segmented by distribution channel and geography. The market is segmented by distribution channel into supermarkets and hypermarkets, convenience stores, online retail stores, and other distribution channels. Based on geography, the market focuses on the United States, Canada, Mexico, and the rest of North America. For each segment, market sizing and forecasts have been done based on value (in USD million).
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | ||||||
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North America Energy Bar Market Size Summary
The North American energy bar market is experiencing steady growth, driven by an increasing demand for functional foods, meal replacements, and convenient on-the-go snacks. This trend is particularly pronounced among individuals aged 18 to 50, who are more inclined to incorporate energy bars into their diets due to their fast-paced lifestyles. The market is further bolstered by a growing fitness-conscious population and a diverse consumer base that values health and wellness. The popularity of "clean label" and "free-from" products, especially in the United States, is also contributing to market expansion. As consumers shift towards smaller, more frequent meals, energy bars are becoming a preferred choice for those seeking healthier dietary options. However, the high cost of quality ingredients and production processes poses a challenge, leading to higher retail prices that may restrain market growth.
The energy bar market in North America is characterized by a fragmented landscape with key players such as General Mills Inc., The Kellogg Company, Mars Incorporated, Probar LLC, and Mondelez International Inc. These companies are focusing on strategies like new product development, mergers, acquisitions, and partnerships to strengthen their market presence. The United States, with its fast-paced lifestyle and increasing health consciousness, is a significant driver of demand for energy bars. The market is also witnessing a rise in plant-based and animal protein bars, catering to diverse consumer preferences. The growth of health clubs and fitness centers, along with the rising popularity of sports and exercise, is expected to further boost the demand for energy bars in the region. Private-label brands are providing stiff competition, and online distribution channels are being leveraged by both regional and global players to capture market opportunities.
North America Energy Bar Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Distribution Channel
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2.1.1 Supermarkets/Hypermarkets
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2.1.2 Convenience Stores
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2.1.3 Online Retail Stores
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2.1.4 Other Distribution Channels
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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North America Energy Bar Market Size FAQs
What is the current North America Energy Bar Market size?
The North America Energy Bar Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in North America Energy Bar Market?
General Mills Inc, The Kellogg Company, Mars, Incorporated, Mondelez International Inc. and Probar LLC are the major companies operating in the North America Energy Bar Market.
