The global snack bar market is expected to be worth nearly $32 billion in 2025 - up from just $20 billion in 2018 - according to industry research group Grand View Research. And in the US, the protein bar market is on track to grow an additional $806.08 million by 2024. This industry growth aligns with an increasing number of health-conscious consumers coming out of the COVID-19 pandemic. With the relationship between nutrition and health strengthened in recent months, many have been turning to better-for-you and shelf-stable snacks, like protein bars, shakes, toaster pastries, and cookies, to reach their nutrition goals and reap numerous health benefits.
As we enter a post-COVID world, protein bar companies will continue to stay among the hottest places for cash-heavy venture capitalists to put their money. Indeed, there were little to no new investments in the nutrition bar industry during the pandemic, but notable investments in the second half of last year are only the “tip of the iceberg” of what’s to come, say industry analysts. For proof, they point to three key deals that all happened in 2021:
- Laird Superfood has acquired sports nutrition company Picky Bars for $12 million in cash and stock.
- RoadRunner Holdings acquired JoJé Bar. The financial terms of this acquisition have not been disclosed to the public.
- GenTech Holdings, Inc acquired NxtBar, LLC for an undisclosed amount thought to be in the hundreds of millions.