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Plant-based Bars Market to be Worth $7.80 Billion by 2030: Grand View Research, Inc.
The protein bars segment dominated the market by holding a major share in 2022. The escalating demand for plant-based protein alternatives has extended to plant-based protein bars. With the increasing advancements in food production and technology, numerous plant-based protein bars are now able to emulate the taste and texture of traditional snack bars. This has led to a surge in the number of consumers opting for plant-based protein bars as a delicious and wholesome snacking choice.
The conventional segment held the larger market size in 2022. From a product price perspective, conventional plant-based bars are often a more economical option for budget-conscious consumers. They are easily procurable and sold in popular grocery stores and online retailers, which enhances their accessibility to a larger consumer base. To promote these bars, companies invest substantially in marketing campaigns, leveraging various channels such as television commercials, social media advertisements, and collaborations with social media influencers. This widespread visibility makes conventional plant-based bars a more familiar product to consumers, potentially increasing their likelihood of opting for them over other alternatives.
Europe accounted for the largest share of the market. The European market has witnessed a marked upswing in the range of plant-based bars on offer in recent times. This has translated into greater ease of access for consumers, with many supermarkets and health food stores now stocking a diverse selection of plant-based bars. As a result, consumer knowledge and curiosity about these products have risen considerably. Additionally, there is an upsurge in the number of individuals in Europe opting for veganism or vegetarianism. Such lifestyle choices may be driven by a mix of environmental, ethical, or health concerns, resulting in a growing preference for plant-based diets.
Major players in the plant-based bars industry include Kellogg's; Greens Gone Wild, LLC.; General Mills Inc .; 88 ACRES; GNC Holdings, LLC; Rise Bar; MadeGood; Växa Bars; Clif Bar & Company; and GoMacro, LLC Various steps are adopted by these companies including partnerships, mergers & acquisitions, global expansion, and others to gain more share of the market.
Grand View Research has segmented the global plant-based bars market based on product type, nature, distribution channel, and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
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