Report : Middle East & Africa Nutritional Bars Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Protein Bars, High-Fiber Bars, and Others), Category (Conventional, Gluten-Free), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)
At 6.1% CAGR, the Middle East & Africa Nutritional Bars Market is speculated to be worth US$ 767.15 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa nutritional bars market was valued at US$ 537.38 million in 2022 and is expected to reach US$ 767.15 million by 2028, registering a CAGR of 6.1% from 2022 to 2028. Rising fitness trends and inclusion of functional claims on labels are the critical factors attributed to the Middle East & Africa nutritional bars market expansion.
In the last couple of years, people have become more aware of the importance of living a healthy lifestyle. The growing prevalence of sedentary lifestyles among a vast population is affecting their physical and mental health. This factor encourages them to opt for physical activities and workouts, and healthy eating to stay fit. Thus, fitness and healthy eating have become prominent trends worldwide, in turn, resulting in the rapid proliferation of the global fitness and nutritional bars industry. Irrespective of the adverse effects of the COVID-19 pandemic on the confectionery industry, there has been a notable increase in the number of people consuming nutritional bars during 2020–2021. Additionally, a growing number of fitness centers, health clubs, and gymnasiums, coupled with growing awareness about fitness among the population, is increasing the demand for nutritional bars. Also, increasing popularity of yoga is also expected to increase the demand for nutritional bars. All these factors are contributing to the Middle East & Africa nutritional bars market growth.
On the contrary, availability of substitutes hurdles the growth of Middle East & Africa nutritional bars market.
Based on type, the Middle East & Africa nutritional bars market is segmented into protein bars, high-fiber bars, and others. The protein bars segment held 67.8% share of Middle East & Africa nutritional bars market in 2022, amassing US$ 364.37 million. It is projected to garner US$ 521.77 million by 2028 to expand at 6.2% CAGR during 2022–2028.
Based on category, the Middle East & Africa nutritional bars market is bifurcated into conventional and gluten-free. The conventional segment held 78.2% share of Middle East & Africa nutritional bars market in 2022, amassing US$ 420.39 million. It is projected to garner US$ 595.31 million by 2028 to expand at 6.0% CAGR during 2022–2028.
Based on distribution channel, the Middle East & Africa nutritional bars market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held 60.6% share of Middle East & Africa nutritional bars market in 2022, amassing US$ 325.85 million. It is projected to garner US$ 461.86 million by 2028 to expand at 6.0% CAGR during 2022–2028.
Based on country, the Middle East & Africa nutritional bars market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. Our regional analysis states that the Rest of the Middle East & Africa captured 48.6% share of Middle East & Africa nutritional bars market in 2022. It was assessed at US$ 261.41 million in 2022 and is likely to hit US$ 362.13 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players profiles in the Middle East & Africa nutritional bars market report are Clif Bar & Co; General Mills Inc; Mars Inc; The Kellogg Co; The Quaker Oats Co; and The Simply Good Foods Co, among others.
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