The Middle-East and Africa protein bar market is expected to register a CAGR of 2.9% during the forecast period, 2020–2025.
- The increasing demand for convenience foods is driving the protein bar market. The major consumers not only include sports athletes, but also those who want to have a wholesome meal without the trouble of cooking. Consumers prefer buying protein bars for various purposes, such as weight management, improving muscle mass, and increasing energy.
- Moreover, marketing campaigns for protein bars as a substitute for meal replacement by the fitness clubs have skyrocketed the sales of these products. With an increasing number of health clubs and surging awareness about protein bars, the market is expected to witness a rise in demand during the forecast period.
- However, consumers’ inclination toward other alternative protein-rich diets and high sugar content in the protein bars are the major factors restraining the market growth.
Key Market Trends
Increasing Number of Health and Fitness Centers
The rise of sports nutrition is the growing emphasis on staying healthy and in shape. A rise in participation sports, alongside health clubs and gyms, is a key trend contributing to the growth of the Middle-East and Africa sports nutrition industry. Most of the health clubs sell protein bars and similar sports nutrition products. Moreover, protein bar witnesses an increase in popularity and demand due to the growing number of health centers and fitness clubs, worldwide, as these function as primary distribution channels for these products. The increasing number of health and fitness centers has been positively influencing the growth of the market, as these centers are involved in the endorsement of sports and fitness nutrition products among their respective consumers.
South Africa to Hold a Significant Share in the Regional Market
The rising consumer awareness, increasing disposable incomes among the middle-income consumers, and product innovation, as well as distribution network development by manufacturers, in order to reach a wider consumer base are some of the major factors that are expected to boost the sales of the market studied in South Africa, during the forecast period. South Africa has a mature organized retail sector, which is expected to increase the shelf space for protein bars. Therefore, it holds a major share in the African region. The youth population in the country, which extensively consumes protein-based products for bodybuilding, has been generating a considerable demand for protein bars. Investment in high protein cereal bars is expected to remain high, as manufacturers are looking for innovative products to increase their consumer base in the country.
The Middle-East and African protein bar market is competitive and fragmented in nature, owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies, along with new product development as strategic approaches adopted by the leading companies, to boost their brand presence among consumers. Key players dominating the regional market include Quest Nutrition LLC, The Nature's Bounty Co., and General Mills Inc., among others.
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