According to the research report titled ‘Global Energy Bar Market Size study, by Type (Organic and Conventional), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, and Other Distribution Channels) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global energy bar market, valued approximately USD 2.96 billion in 2020, is anticipated to reach USD 3.72 billion by the end of forecast timeframe 2021-2027, registering a healthy y-o-y growth rate of more than 3.32% throughout.
 

As per the findings of the report, increasing demand for healthy food products to maintain a balanced lifestyle is primarily driving global energy bar market over the projection timespan. Moreover, Statista claims that market value of health & wellness has grown from USD 726.92 billion in 2017 to USD 811.82 billion in 2021, indicating a spike in demand for energy supplements.
 

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Moreover, introduction of new products with unique components is another major growth driver. For instance, KIND Healthy Snacks, in October 2020, introduced the KIND(R) energy bar made with whole grains, oats, and less sugar to attract more health-conscious consumers.
 

Growing nutrition-dense food product demand among sports enthusiasts, increased awareness about such products through e-commerce coverage, rising prevalence of chronic diseases such as blood pressure, diabetes, cardiovascular disease, and adoption of a hectic lifestyle will create new growth prospects for the industry in coming years.
 

On the contrary, high product cost and availability of substitutes may negatively impact global energy bar industry outlook over the forecast timeframe.
 

From the regional aspect, as per the report, key geographies highlighted in the research document are North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy, ROE), Asia Pacific (Japan, China, South Korea, India, Australia, RoAPAC), and Latin America (Mexico and Brazil).
 

Among the aforementioned, Asia Pacific is world's leading region in terms of market share and is expected to grow at a strong rate during the projection period owing to surge in demand for healthy products, rising penetration of e-commerce stores, and presence of a large consumer base.
 

Considering the competitive landscape, Verb Energy, Inc., General Mills Inc., Kellogg Co., Clif Bar & Company, Health Warrior, Inc., Hero Group, Ltd., Investissements Novacap Inc., PowerBar, SternLife GmbH & Co. KG, and Bite Snacks are the major companies influencing global energy bar market trends.