Allied Market Research

2024

Vegan Protein Bars Market

Vegan Protein Bars Market Size, Share, Competitive Landscape and Trend Analysis Report by Nature, by Ingredients and by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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Vegan protein bars are prepared from a variety of plant-based ingredients like nuts and veggies. These vegan protein bars are a great snack option. Because these snacks are high in super food, they can sometimes be used to replace a meal. Fibres are found in seeds, nuts, grains, legumes, and vegetables, and they help in absorption and digestion. Vegan protein bars also provide enhanced motility as well as a reduction in boating and gas symptoms. All of these reasons are expected to aid the growth of the global vegan protein bars market according to the research. Furthermore, these protein bars are low in saturated fats and cholesterol, as well as high in beneficial plant sterols. These nutrients help to maintain the heart healthy, which will increase demand for vegan protein bars in the future.

COVID-19 Impact analysis

For market participants, the COVID-19 epidemic has presented both obstacles and opportunities. During the early stages of the pandemic, all manufacturing operations came to a halt. There was a lack of raw materials and machine operators due to transit constraints and social distance rules established by governments. In addition, price variations in raw supplies and taxes exacerbated the problem.

On the other hand, the pandemic's overall influence on the market is good. Fearing airborne infections, an increasing number of people are moving to a vegan protein diet. As a result, there is a huge increase in demand for plant-based protein bars.

Following the first quarter of the pandemic, manufacturers of vegan protein bars noticed an increase in demand. Furthermore, because to the considerable health hazards posed by COVID-19 to patients with underlying illnesses like diabetes, customers are opting for low-sugar, low-fat, and high-nutritional-value products. Such an unexpected increase in demand has prompted industry companies to alter their strategy in order to meet customer demand during COVID-19.

Top Impacting Factors

  • Market growth is boosted by growing health initiatives - Health initiatives and plans are being launched by governments and international organizations all around the world. The World Health Organization, for example, launched the Global Strategy on Diet, Physical Activity, and Health in 2004. The goal of this plan was to develop and implement a global strategy to reduce mortality and disease burden by modifying food and encouraging physical activity.
  • Increased demand for animal protein due to growing intolerance- Consumer aversion to animal protein is expected to grow, presenting attractive prospects for industry players. Consumers are increasingly replacing dairy and animal products with plant-based alternatives due to an increase in food-related allergies. With a growing emphasis on health and wellness, demand for vegan nutrition bars is expected to rise in the future years.
  • Veganism and flexitarianism are becoming more popular- The vegan and flexitarian population is steadily increasing around the world as people become more conscious of health issues and animal cruelty. Veganism is stronger than ever, as seen by the growing vegan population in countries with heavily meat- and dairy-based cuisines.

Market Trends

  • Allergic reactions are on the rise, driving up market demand- There has been a resurgence of interest in eating well and leading a healthy lifestyle. Governments and international organizations around the world are progressively launching various health plans and programs. The World Health Organization (WHO) launched a Global Health, Physical Activity, and Diet Strategy in 2004.By encouraging physical activity and dietary changes, this technique is predicted to reduce disease burden and fatalities. Over the study period, such programs are expected to promote the worldwide vegan protein bars market's growth.
  • Consumers' increasing intolerance of animal protein is projected to create potential growth prospects for the worldwide vegan protein bars market. According to the World Allergy Organization, around 220 to 520 million people suffered from food allergies in 2018, with over two-thirds of them having an egg allergy. Customers are likely to substitute vegan items for meat and dairy products as the number of people with food allergies rises. In the next years, these factors are projected to Natural Leads vs. Conventional Leads boost the worldwide vegan protein bars market.
  • Natural Leads vs. Conventional Leads- The traditional segment, according to FMI, is anticipated to lead the market by default. Aside from that, the organic segment is expected to increase significantly over the forecast period. Consumers are altering their preferences toward organic items as their health knowledge grows. Regardless, the traditional category will continue to dominate the market.
  • Nuts to Emerge Dominant-Soy is currently the most popular component in vegan protein bars around the world. However, due to its high nutritional value, the nuts category is predicted to increase at a faster rate during the forecast period. Aside from that, the increased prevalence of soy allergies has shifted customer preferences toward vegan protein bars made with nuts.

Key Benefits of the Report

  • This Study Presents The Analytical Depiction Of The Vegan Protein Bars Market Industry Along With The Current Trends And Future Estimations To Determine The Imminent Investment Pockets.
  • The Report Presents Information Related To Key Drivers, Restraints, And Opportunities Along With Detailed Analysis Of The Vegan Protein Bars Market Share.
  • The Current Market Is Quantitatively Analyzed to Highlight The Vegan Protein Bars Market Growth Scenario.
  • Porter’s Five Forces Analysis Illustrates the Potency of Buyers & Suppliers in the Market.
  • The Report Provides A Detailed Vegan Protein Bars Market Analysis Based On Competitive Intensity And How The Competition Will Take Shape In Coming Years

Questions Answered In the Report:

  • Who Are The Leading Market Players Active In The Vegan Protein Bars Market?
  • What Current Trends Will Influence The Market In The Next Few Years?
  • What Are The Driving Factors, Restraints, And Opportunities In The Market?
  • What Future Projections Would Help In Taking Further Strategic Steps?
  • What Is “Vegan Protein Bars Market” Prediction In The Future?
  • Which Will Be The Niches At Which Players Profiling With Recent Advancements Should Set A Presence?
  • What Are The Driving Factors And Opportunities In The Market?
  • What Are The Current Trends And Predicted Trends?
  • What Are The Challenges Faced In The "Vegan Protein Bars Market"?

Vegan Protein Bars Market Report Highlights

Aspects Details
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By Nature
  • Organic
  • Conventional
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By Ingredients
  • Soy
  • Pea
  • Nuts
  • Others
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By Distribution Channel
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Industrial Chemicals and Lubricants
  • Drug Stores & Pharmacies
  • Health & Wellness Stores
  • Online Retailing
  • Other Retailers
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

NuGo Nutrition, Garden of Life, Risebar, Gomacro, Raw Rev, PROBAR LLC, Health Warrior, BHU Foods

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Vegan Protein Bars Market

Global Opportunity Analysis and Industry Forecast, 2023-2032