Vegan protein bar players are focusing on improving their product portfolio as consumers are moving towards healthier snacks that are blend of both nutrition and taste.
DUBAI, UAE / ACCESSWIRE / December 31, 2020 / Future Market Insights: As per FMI, the vegan protein bar market is expected to grow at a stellar CAGR 12% amid 2020 and 2028. Increasing focus on wellness and health, surging environmental concerns, and growing awareness in relation to animal cruelty is driving the vegan products demand worldwide, which, in turn, is fuelling the vegan protein bars market.
"Veganism is gaining widespread acceptance worldwide and this in turn is generating lucrative prospects for the expansion of the vegan protein bars market. This trend is continue to boost sales prospects in the forthcoming years" states the FMI analyst.
Vegan Protein Bars Market- Important Highlights
North America will maintain a lucrative position owing to relatively higher awareness and availability regarding vegan protein bars
Conventional nature segment will continue to lead, holding more than 80% of the overall market share
Nuts ingredients segment will emerge lucrative, recording a CAGR of 14% during 2020-2028
Online retailing distribution channel will emerge as a lucrative category over the projected period
Vegan Protein Bars Market - Drivers
Growing fitness clubs and awareness about animals and health are expected to boost the demand for vegan protein bars.
Escalating health initiatives by several governments and international organizations across the world boosting market growth.
Rising flexitarianism and veganism due to growing awareness about animal cruelty and health, will generate lucrative prospects for the players.
Due to fear of COVID-19 and other air borne diseases, consumers are increasingly shifting towards vegan protein diet. Thus, the augmenting demand for plant based protein bars significantly.
https://finance.yahoo.com/news/vegan-protein-bars-market-gain-160000860.html
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