The Asia Pacific Energy Bars Market would witness market growth of 9% CAGR during the forecast period (2021-2027).
As people are gaining awareness about the health which is eventually resulting in higher demand of convenience foods due to subsequent change in economic and social patterns and rise in expenditure of food & beverages, changes in meal patterns and existing food habits, desire to try new food products and awareness about healthy foods. On-the-go snacking is gaining popularity among the people living in the hostel, working-class people, bachelors, and teenagers due to their hectic lifestyles. These are the major energy bar market trends. Moreover, the energy bar is a part of on-the-go snacking as these snacks are ruling the market because of the factors such as ease of consumption and handling of products. Factors like disposable packaging which makes it easy to consume without spoiling the hands so that consumers could work simultaneously would boost the demand & growth of energy bars.
Asia Pacific region is witnessing greater demand for the energy bar as the consumer demand is rising for these healthy on-the-go snacks and convenient snacks. These are the major factors affecting the sales of energy bars across the country. The demand for energy bare is accelerating as people are adopting an active lifestyle and health awareness is also growing among people, which eventually leads to the consumption of limiting the portion size as well as including healthy snacks in between the meals.
Per capita income of the consumers in this region is increasing leading to a rise in demand for these energy bars and convenient foods. Japan and Australia are the key countries in the regional energy bar market. The key players are coming up with various unique products such as dairy-free, gluten-free, soy-free, sugar-free, whole-food, and super-food. These different varieties in the products would attract consumers focused on health and wellness. Thus, all these factors would lead the global energy bar market in this region.
The China market dominated the Asia Pacific E-commerce Market by Country in 2020, thereby, achieving a market value of $17,430.9 Thousands by 2027. The Japan market is showcasing a CAGR of 9.3% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 9.3% during (2021 - 2027).
Based on Nature, the market is segmented into Organic and Conventional. Based on Type, the market is segmented into Protein Bar, Nutrition Bar, Cereal Bar and Fiber Bar. Based on Distribution Channel, the market is segmented into Specialty Stores, E-commerce, Hypermarkets & Supermarkets and Convenience Stores. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Energy bars Market is Projected to reach USD 1.1 Billion by 2027, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Brighter Foods Ltd. (The Hut Group), The Kellogg Company, General Mills, Inc., Kind LLC, McKee Foods Corporation, The Simply Good Foods Company (Atkins Nutritionals, Inc.), Clif Bar & Company, NuGo Nutrition, Probar LLC, and Premier Nutrition Company, LLC
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