Market Trends of North America Energy Bar Industry
This section covers the major market trends shaping the North America Energy Bar Market according to our research experts:
Increasing Number of Health and Fitness Centers
Sports nutrition products have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape and the increasing participation in sports, health clubs, sports clubs, and gyms are some of the key drivers contributing to the growth of the North American energy bar market. Energy bars serve multiple purposes and thus appeal to a broad range of consumers, including athletes and other sports participants. In the United States, there is a growing acceptance of energy bars over energy drinks among sports participants and fitness enthusiasts, as energy bars do not contain any caffeine. Some athletes experience abdominal cramps and diarrhea related to the large intestine contractions caused by caffeine. According to the United States Bureau of Labor Statistics, the average time spent on sports, exercise, and recreation in the United States increased from 0.29 hours per day in 2018 to 0.37 hours per day in 2020. In recent years, health clubs and fitness centers have witnessed consistent growth due to increases in health concerns and changes in lifestyle. So, more people playing sports and more health and fitness clubs in the area are likely to increase the demand for energy bars in North America during the forecast period.
United States Dominates the Market Share
The United States is known for its on-the-go, fast-paced lifestyle. In such an environment, the use of quick, convenient, and portable snacks goes a long way. Moreover, with today's consumers being more health-conscious than ever, these convenient energy bars provide the right kind of nourishment. The United States, being one of the most developed nations, demands highly convenient food owing to its rapid lifestyle. According to the United States Department of Agriculture (USDA), consumers in the United States spend more than half of their food budget on convenient foods, including snack bars, thereby driving the consumption of snack bars in the country. Protein remains one of the top ingredients in the energy bar category. While plant-based protein energy bars such as those made with peas, beans, and pumpkin seeds are on the rise, animal proteins are also being delivered in new and exciting forms in the energy bar market. Brands such as Country Archer, DNX, EPIC, and Krave have all introduced meat bars, utilizing grass-fed beef, poultry, and fish to provide high sources of on-the-go protein. Further, consumers in the country are increasingly getting engaged in sports and exercise, which in turn is driving market demand.
