Plant-Based Bars Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Platform as a Service (PaaS) Market is Segmented By Product Type (Cereal/Granola Bars, Protein Bars, Snack Bars, Meal Replacement Bars, Others), By Ingredient (Nuts & Seeds, Grains, Fruits, Others), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Sales, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Plant-Based Bars Market Size

The Global Plant-Based Bars Market USD 7.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 12.5 billion by 2030. The market is growing at a CAGR of 7.2% during the forecast period 2024-2031. The global shift toward vegan and vegetarian diets has created a strong demand for plant-based bars.

Plant-based bars are snacks or meal replacements made from ingredients that come from plants, such as nuts, seeds, fruits, vegetables, and grains. These bars are designed to provide a convenient and portable source of nutrition that is both healthy and environmentally sustainable. Plant-based bars typically contain a variety of macronutrients, such as protein, fiber, and healthy fats, as well as micronutrients like vitamins and minerals. They are often sweetened with natural sources like dates or maple syrup, and may also contain other flavorings like cinnamon, vanilla, or cocoa powder. 

Consumers are seeking convenient and nutritious snack options that align with their dietary choices. For instance, according to the World Animal Foundation report of 2023, there are 88 million vegans in the world.

Plant-Based Bars Market Summary

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Plant-Based Bars Market Dynamics

Health and Wellness Trends are Driving the Growth of the Plant-Based Bars Market

Health and wellness trends are a major driver of the growth of the plant-based bars market. Consumers are becoming more health-conscious and are seeking out healthier snack options that align with their dietary and lifestyle choices. Plant-based bars are seen as a healthier alternative to traditional snack bars because they are often made with whole-food ingredients and are free from artificial flavors, colors, and preservatives. 

Plant-based bars are also a great source of plant-based protein, which is becoming increasingly popular among consumers. As more people adopt a plant-based or flexitarian diet, they are seeking out convenient and tasty ways to incorporate more plant-based protein into their diets. Plant-based bars provide an easy and convenient way for consumers to meet their protein needs while enjoying a delicious snack. 

Allergen-Free and Special Dietary Needs are Driving the Plant-Based Bars Market Growth

Plant-based bars often provide alternatives for individuals with common food allergies, such as dairy, gluten, soy, and nuts. These bars are formulated without allergens, making them suitable for people with specific dietary restrictions or sensitivities. By offering allergen-free options, plant-based bars cater to a wider consumer base and address the needs of those who may have limited snack choices due to allergies.

Many individuals with special dietary needs, including those with allergies or sensitivities, prioritize their health and wellness. Plant-based bars that are free from allergens and made with wholesome ingredients align with this focus on health. According to the Centers for Disease Control and Prevention (CDC), about 1 in 13 children in the United States has a food allergy. By catering to special dietary needs, plant-based bars position themselves as a nutritious and mindful choice for consumers seeking healthier options.

The Taste and Texture of Protein Bars Hamper the Market Growth

Taste and texture are potential restraints on the growth of the plant-based bars market, as some consumers may find the bars to have a different taste and texture than traditional snack bars. According to a report by Tastewise, only 0.85% of restaurants offer protein bars on their menus. Many protein bars are made with whole food ingredients, which can affect their taste and texture. For example, some bars may have a chewy or gritty texture due to the presence of nuts, seeds, or other natural ingredients.

While some consumers may enjoy this texture, others may find it unappealing. Similarly, some consumers may find that protein bars have a different taste profile than traditional snack bars, especially if they are not used to the flavors of whole food ingredients. For example, some bars may have a nutty or fruity taste, which may not appeal to all consumers. Overall, taste and texture are potential restraints on the growth of the plant-based bars market.

Plant-Based Bars Market Segmentation Analysis

The global plant-based bars market is segmented based on product type, ingredient, distribution channel, and region.

Increasing Popularity of Protein Bars as it is Loaded with Proteins

Depending upon product type, the plant-based bars market is divided into cereal/granola bars, protein bars, snack bars, meal replacement bars, and others. Protein bars have the highest share in the market. Protein is a crucial nutrient for building and repairing muscle tissue, and many people, including athletes and fitness enthusiasts, consume protein bars as a convenient and portable way to supplement their protein intake. 

As per Healthspanelite, 100 grams of plant-based protein bars contain 33 gms of protein. As more consumers shift towards plant-based diets, there is an increasing demand for plant-based protein sources. Protein bars made with ingredients such as pea protein, soy protein, and brown rice protein provide a convenient way for consumers to meet their protein needs without consuming animal products. Plant-based protein bars are often marketed as a healthier alternative to traditional protein bars, as they are typically lower in saturated fat and cholesterol and may contain additional nutrients such as fiber, vitamins, and minerals. 

Plant-Based Bars Market Geographical Share

The Growing Trend Towards Healthy and Active Lifestyles in the North American Region

North America has a large and diverse population, with a range of dietary requirements and preferences. The plant-based bars market has responded to this diversity by offering a wide range of products that cater to different dietary needs, such as gluten-free, dairy-free, and soy-free options. For instance, around 61% of the consumer in the United States prefer plants as their protein source. This trend has been fueled by concerns about animal welfare, the environment, and personal health. 

Plant-based bars, which are often marketed as a healthier alternative to traditional snack bars, have become increasingly popular as a result. The North American market has a strong demand for on-the-go snacks, which has contributed to the growth of the plant-based bars market. Busy lifestyles and the need for convenient snack options have led to an increased demand for portable and convenient plant-based bars. 

Market Major Players

The major global players include Kellogg’s Company, LoveRaw, 88 Acres, Rise Bar, Vaxa Bar, Green’s Mills Inc., Raw Bite, GNC Holdings LLC, General Mills Inc., MADE GOOD.

COVID-19 Impact on Plant-Based Bars Market

COVID Impact

During the COVID-19 pandemic, there has been an increased focus on health and wellness. Many consumers have become more conscious of their dietary choices and are actively seeking out healthier food options, including plant-based products. This shift in consumer preferences could potentially contribute to the growth of the plant-based bars market. With lockdowns and restrictions impacting daily routines, there has been a surge in demand for convenient and shelf-stable food items. Plant-based bars, being portable and having a longer shelf life, have the advantage of meeting these needs. This increased demand for convenient and long-lasting snacks may have positively impacted the sales of plant-based bars.

Russia-Ukraine War Impact:

Geopolitical conflicts, such as the Russia-Ukraine war, can disrupt supply chains, particularly if they involve regions that are significant in terms of ingredient sourcing or manufacturing facilities for plant-based bars. Disruptions in the supply chain could potentially lead to challenges in sourcing raw materials or distributing finished products, affecting the availability and pricing of plant-based bars in certain markets. Geopolitical tensions may impact trade relations and market dynamics between countries involved. 

By Product Type

• Cereal/Granola Bars
• Protein Bars
• Snack Bars
• Meal Replacement Bars
• Others

By Ingredient

• Nuts & Seeds
• Grains
• Fruits
• Others

By Distribution Channel

• Supermarket/Hypermarket
• Specialty Stores
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In April 2022, SternLife, one of the major providers of functional food, introduced 4 vegan bars. These products are growing in response to consumer demand for sustainable products.
• In March 2022, Australian Plant Protein (APP) entered into a project of expanding the animal-free protein manufacturing capacity of South Australia.
• In July 2021, RXBAR has announced the entry of its vegan egg-free nutrition bars, which are made up of a blend of pea and almond protein along with dates, nuts, and oats.

Why Purchase the Report?

• To visualize the global plant-based Bars market segmentation based on product type, ingredient, and distribution channel understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous plant-based Bars market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global plant-based bars market report would provide approximately 61 tables, 61 figures, and 102 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies