Latest News- Energy Bar Market in North America: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Energy Bar Market in North America is being driven by Increasing demand for sports nutrition

The Energy Bar Market in North America is expected to grow at a CAGR of 4.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1015.4 million. The North American online grocery market, which includes energy bars as a significant segment of packaged nutritional foods, is experiencing substantial growth. Key drivers include an expanding urban consumer base, a burgeoning millennial population, and rising disposable income. The online channel's sales value is escalating due to the elimination of supply chain intermediaries. Energy bars, a popular choice for health-conscious consumers, are witnessing increased online sales through both dedicated e-commerce platforms and traditional food retailers' websites. The proliferation of mobile users and their utilization of health and wellness apps, trackers, and wearables are pivotal to the online sale of energy bars and other nutritional foods. Modern consumers, particularly fitness enthusiasts, prioritize convenience when purchasing these products. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Type
  • Protein Bars
  • Nutrition Bars
  • Meal Replacement Bars
  • Others
• End-User
  • Athletes
  • Health-Conscious Consumers
  • General Consumers
• Flavor
  • Chocolate
  • Fruit
  • Nut-Based
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for sports nutrition
• Rising product innovation in energy bars
• High demand for energy bars from millennial population

However, the market also witnesses some limitations, which are as follows:

• Easy availability of substitutes
• Negative impact of product recalls
• Challenges associated with product distribution

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Market Scope in Energy Bar Market in North America Research Report

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Research Analysis Overview

The Energy Bar Market in North America involves various aspects such as recipe development, manufacturing equipment sourcing, collaboration with ingredient suppliers, packaging design, consumer research, product testing, sales data analysis, establishment of a robust distribution network, marketing campaigns, pricing models, brand awareness, customer feedback, product lifecycle management, new product development, supply chain optimization, quality assurance, adherence to food safety regulations, clear nutritional information, health claims, ingredient traceability, sustainability initiatives, ethical sourcing, retail distribution, e-commerce sales, direct-to-consumer sales, wholesale distribution, creation of promotional materials, and strategic advertising plans.

Market Research Overview

The Energy Bar Market in North America is a significant segment of the global packaged foods industry, encompassing vendors specializing in energy bar manufacturing. These companies focus on formulating products with optimal protein content, utilizing high-quality ingredients, and adhering to stringent nutrient content labeling regulations. Shelf life extension is a key consideration, achieved through the use of advanced packaging materials and innovative manufacturing processes. The market's growth is driven by the health benefits associated with energy bar consumption, as they offer convenient, nutrient-dense alternatives to traditional snacks. Technavio, a leading market research firm, calculates the size of the global packaged foods market based on the combined revenue generated by the vendors operating within this sector, excluding those producing food processing equipment, packaged alcoholic and non-alcoholic beverages, and minimally processed food's growing popularity contributes to the market's expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/