Plant-based Bars Market Outlook (2023 to 2033)

The plant-based bars market is expected to expand its roots at a steady CAGR of 8.47% during the forecast period. The market is likely to hold a revenue of USD 8.05 billion in 2023 while it is anticipated to cross a value of USD 18.15 billion by 2033.

The research report on the plant-based bars market states that the healthy alternatives of protein bars along with the rising vegan movement are garnering market growth. Furthermore, the high nutrients, and high Fibre proportion are also popular among young health enthusiasts.

The plant-based protein that is used in plant-based bars also keeps you full for long periods. It also helps in losing weight and adding nutrients to the diet. Alongside this, the growing trend that promotes a vegan diet through different factors is also fuelling the demand for plant-based bars.

The blend of exciting flavors such as fruits, spices, and sources of plant-based protein is attracting the consumer base across the region. The smart pricing with various sizes along with the addition of whole grain, seeds, spices, and nuts are also promoting the growth prospects for the market. The high penetration of spices with ingredient quality, nutritional value, and price is increasing the traction for the market.

The increased education, simplified meals, and creative cooking ideas are pushing the demand for plant-based bars. Some of the other benefits involve improved health, energy, better digestion, weight loss, environmental benefits, and animal welfare benefits. The vegan diet promotes fewer risks of cancer and increasing other chronic diseases is garnering market growth further.

Plant-based bars market analysis explains that the skin benefits and other benefits of nuts are making plant-based bars the first choice for consumers. Furthermore, ready-to-eat snack options and meal replacement is increasing the demand for plant-based bars. Some of the brands are also sponsoring sports events in order to gain traction in the plant-based bars market.

Attributes Details
Plant-based Bars Market CAGR (2023 to 2033) 8.47%
Plant-based Bars Market Size (2023) USD 8.05 billion
Plant-based Bars Market Size (2033) USD 18.15 billion

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How is the Future Outlook (2023 to 2033) for the Plant-based Bars Market in Comparison to the Historical Pattern (2018 to 2022)?

Short-term Growth (2023 to 2026): The growth during this period is attributed to the leading vegan movement, protein alternative requirement, and weight loss proposition. Furthermore, the advanced government programs promoting plant-based bars are garnering market growth. The high nutritional properties, affordable prices, and herbal products are getting famous. Hence, the market is expected to hold USD 8.05 billion in 2023 while it is likely to reach USD 10.27 billion by 2026.

Mid-term Growth (2026 to 2029): Enhanced research and development activities along with the brands extending their vegan diet portfolio are enriching the market share across the regions. This period is anticipated to fuel the growth due to the high expected consumption and awareness around the plant-based protein and vegan diet. This takes a market value from USD 10.27 billion in 2026 to a value of USD 13.11 billion in 2029.

Long-term Growth (2029 to 2033): Exciting flavors, better promotion tactics, and social media channels promoting plant-based bars are likely to drive growth. The increasing inclination towards fitness and healthy diet plans is pushing the vendors to experiment with their products. Thus, the plant-based bars market is anticipated to thrive at a steady CAGR of 8.47% between 2023 and 2033.

What Growth Drivers Flourish the Plant-based Bars Market?

The expanding e-commerce websites, growing awareness around plant protein, and health enthusiastic population are some of the significant growth drivers. Alongside this, big brands launching their vegan and plant-based bars as healthy and flavorful alternatives are gaining traction in the market. Gym enthusiasts take these bars as an integral part of their diets before and after their gym routine.

Health enthusiasts also add these bars to their snacks, meals, and along with the occasional drinks. Its huge consumption is through the rising number of health enthusiasts, sportspersons, gym enthusiasts, and athletes. Thus, the key players focus on an inclusive strategy involving brand promotion through famous sports personalities and athletes.

Developing eCommerce platforms add new flavors and different plant protein options for the end-users. The worldwide vegan movement has given a push to companies to launch new products frequently. Some of the market leaders are mixing two plant-based proteins along with the application of almond flour converting the potential end-users into sales prospects.

Nandini Roy Choudhury
Nandini Roy Choudhury

Principal Consultant

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What are the Key Restraints in the Plant-based Bars Market?

Some of the key restraints for the plant-based bars market are lack of awareness, lack of reliability, and high penetration of conventional energy bars. Alongside this, restrictions are faced in the improvement of the palatability of plant-based bars. The lack of texture and taste with plant-based bars is also restraining the demand for plant-based bars.

Plant-based Bars Market Country-wise Insights

Why is the United States Considered a Lucrative Market for Plant-based Bars?

Higher Penetration of the Vegan Movement along with a Rising Number of Gym and Fitness Enthusiasts in the Region Fuels the Market Growth

North America region leads in terms of the market share in the plant-based bars market as it held a market share of USD 3.68 billion in 2022. The growth is attributed to the increased number of people turning vegan along with the high awareness around the nutritional benefits of plant-based bars.

Apart from the vegan movement, the vegetarian consumer base that is involved in athletic activities or lives an active lifestyle is also adopting these bars into their diet. The high-end research and development around vegan protein have given wings to plant-based food items in the region.

How does China Perform in the Plant-based Bars Market?

Growing Awareness around Vegan Diet, Popularity of Healthy Ready-to-eat Snacks Propels the Regional Growth

Asia Pacific region thrives at a significant CAGR between 2023 and 2033. China plant-based bars market is thrived through its citizen turning vegan along with healthcare awareness. The application of multigrain flour in their protein and energy bars has pushed the vendors to experiment and launch new products with zero fats and high nutritional value.

A big percentage of people in Asia are vegetarian. Thus, the idea of meatless, plant-based nutritional bars is flourishing in its sales in the region.

What Makes the United Kingdom Another Significant Market for Plant-based Bars Market?

Clean Label Bars, High Usage of Nuts and Spices, and Expanding Veganism fuels the Market’s Success in the Region

The United Kingdom is another significant market for plant-based bars. Many people going to gyms, high penetration of veganism, and changing eating habits of people in Europe are flourishing the market growth. Furthermore, the presence of old and conventional energy bar producers introducing their plant-based bars to promote better health benefits also gains traction.

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Category-wise Landscape

Category Leading Segment
By Type Protein Bar
By Distributing Channels Supermarket/Hypermarket

High Consumption of Ready-to-use Healthy Snack Options has fueled the Demand for Plant-based Protein Bars

Based on type, the protein bar segment leads due to its high consumption. Vendors also experiment with their protein bars by adding spices and nuts to them. The more exclusive options involve the clean label plant-based protein bars.

The fixed, packaged amount of plant-based protein acts as a rich source of protein. People who are active in sports and athletics also consume a big chunk of the segment as they usually carry a plant-based protein bar to recharge energy during and post workouts.

Easy Availability, High Options, and Increased Saturation in Urban Spaces make Supermarket/Hypermarket Segment the Top Segment in the Category

Based on the distribution channel, the supermarket/hypermarket segment leads. The growth is attributed to easy availability, better pricing, and additional discounts. Alongside this, other benefits like freedom of selection, discount in bulk, and less complex transaction also make the purchase smooth.

Competition Scenario

The key players focus on producing nutritional and affordable plant-based bars. These players also add additional information about healthcare regimes and routines inside the packaging to promote their products as healthy. Furthermore, the strategy involves real-time social media reviews, sponsorships provided for sports activities, etc.

Market Developments:

  • Kellogg’s Company has introduced plant-based proteins such as Morningstar Farms's veggie grillers prime, plant-based energy bars, and incogmeato micky mouse chik’n.
  • Green’s Gone Wild, LLC has launched its new collection of bars such as banana bread in a bar, berries with tropical twists, etc.
  • LoveRaw has introduced its delicious plant-based chocolate like cream wafers, nutty choc balls, M: LK chic bars, and butter cups. Some of the best sellers involve a starter mix of all these plant-based bars.

Key Players Operating in the Plant-based Market

  • Kellogg’s (United States)
  • Green’s Gone Wild, LLC (United States),
  • General Mills Inc
  • 88 Acres (United States)
  • LoveRaw (United Kingdom)
  • GNC Holdings LLC (United States)
  • Raw Bite (Germany)
  • Rise Bar
  • MADE GOOD (United States)
  • Vaxa Bar (United States)

Plant-based Bars Market: Segmentation

Product Type (Revenue, USD billion):

  • Cereal/Granola Bars
  • Protein Bars
  • Energy Bars/Meal Replacement
  • Fruit & Nut Bars
  • Others

Distribution Channel Outlook (Revenue, USD billion):

  • Supermarkets/Hypermarket
  • Convenience Stores
  • Specialty Stores
  • Online Retail Stores
  • Others

Key Regions Covered:

  • North America
    • The United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • The United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan (APEJ)
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • Middle East Asia (MEA)
    • GCC Countries
    • Israel
    • South Africa
    • Rest of Middle East Asia (MEA)

Frequently Asked Questions

Why is the United States Market Witnessing Higher Growth?

The growing popularity of vegan and nutritional food is fueling the demand in the United States.

Performance of the Europe Plant-based Bars Market?

The growing awareness of vegan diets is upsurging in the Europe market.

Who are the Leading Companies in the Plant-based Bars Market?

General Mills Inc. and Love Raw are the leading companies in the plant-based bars market.

What is the Current Market Valuation?

The current valuation of the plant-based bars market is USD 8.05 billion in 2023.

Which Region Presents Lucrative Growth Opportunities?

North America to witness lucrative growth opportunities through 2033.

Table of Content
	1. Executive Summary 
	2. Market Overview
	3. Market Background
	4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
	5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
		5.1. Cereal/Granola Bars
		5.2. Protein Bars
		5.3. Energy/Meal Replacement Bars
		5.4. Fruit & Nut Bars
		5.5. Others
	6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel
		6.1. Supermarkets/Hypermarkets
		6.2. Specialty Stores
		6.3. Convenience Stores
		6.4. Online Retail Stores
	7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
		7.1. North America
		7.2. Latin America
		7.3. Europe
		7.4. Asia Pacific
		7.5. MEA
	8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	13. Key Countries Market Analysis
	14. Market Structure Analysis
	15. Competition Analysis
		15.1. Kellogg’s Company
		15.2. Green’s Gone Wild, LLC
		15.3. General Mills Inc.
		15.4. 88 Acres
		15.5. LoveRaw
		15.6. GNC Holdings LLC
		15.7. Raw Bite
		15.8. Rise Bar
		15.9. MADE GOOD
		15.10. Vaxa Bar
	16. Assumptions & Acronyms Used
	17. Research Methodology
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