Functional Bars Market Forecasted to Achieve US$ 3.14 Billion by 2034, with 4.5% CAGR

Producers are focusing on developing functional bars with innovative flavors such as low-calorie dark chocolate variants, which is complementing market growth

ROCKVILLE, MARYLAND, UNITED STATES, June 15, 2024 /EINPresswire.com/ -- According to a new industry report compiled by Fact.MR, revenue from the global functional bar market is estimated to reach US$ 2.02 billion in 2024 and thereafter rise at a CAGR of 4.5% from 2024 to 2034. Growing consumer demand for convenient, wholesome, and portable snack options is a key factor driving market expansion.

In an increasingly competitive market, producers of functional bars are placing greater focus on new flavors and designs. This involves developing unique flavor profiles that cater to a range of consumer preferences, such as a fruit and nut combo, rich flavors inspired by desserts, dark chocolate with fewer calories, and many more. Experimenting with various bar shapes and textures, including crispy, chewy, or stacked varieties, enhances customer appeal and elevates the meal experience. These ongoing product enhancements are not only attracting more consumers but also complementing global market growth.

Functional bars, encompassing protein bars, energy bars, meal replacement bars, and wellness bars, are crafted to provide specific health benefits like boosted energy, improved nutrition, and support for fitness objectives. These bars serve as supplementary products, delivering essential nutrients and offering therapeutic benefits for various body systems.

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Key Takeaways from Market Study

The global market for functional bars is projected to reach US$ 3.14 billion by 2034-end.North America is estimated to hold 24.3% of the global market share by 2034. This market is forecasted to generate revenue worth US$ 763.1 million by 2034-end. Revenue from the sales of energy bars is estimated at US$ 578.3 million in 2024.The market in South Korea is calculated to expand at a CAGR of 5.2% through 2034.

Demand for meal replacement bars is forecasted to increase at 5.4% CAGR from 2024 to 2034.The market in the United States is analyzed to generate revenue of US$ 348 million by 2034.The market in East Asia is projected to reach US$ 725.4 million by the end of 2034.

“Since functional bars are rich in protein and low in sugar, and fortified with nutrients, they are becoming more popular among fitness enthusiasts and health-conscious individuals,” says a Fact.MR analyst

Energy Bars Enjoy High Popularity among Fitness Enthusiasts

Rising demand for energy bars is driven by their role in providing an instant and convenient source of energy. They are especially popular among those who have active lifestyles, such as those who work long hours, participate in sports, and are fitness enthusiasts.

Energy bars are an excellent choice for recharging during or after physical activity because they often contain a balanced combination of carbohydrates, proteins, and fats, as well as additional vitamins and minerals. Energy bars are becoming a favored choice for people who are constantly moving from one location to another owing to employment since these goods assist keep their energy levels consistent while they travel.

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