Protein Bar Industry Expected to Rake in Billions in 2020

Protein Bar Industry Expected to Rake in Billions in 2020

 

The nutrition bar industry has hit a whopping $5.5 billion in sales this year (2019), the Nutrition Business Journal reports, with e-commerce in the bar space growing at an incredible 19% in the last 12 months alone.

The Nutrition Business Journal attributes this mouthwatering sector growth to high consumer interest in the kinds of cutting-edge and innovative ingredients that the hottest bar companies have been successfully incorporating into their products, including prebiotics, coconut oil, and grass-fed collagen.

Unsurprisingly, investment in the nutrition bar industry this year has mirrored the astronomical sector growth. In the second half of 2019 alone, the Simply Good Foods Company acquired Quest Nutrition for $1 billion, Hershey’s bought ONE Brands for $397 million, and Mondelēz International purchased Perfect Snacks for an undisclosed amount thought to be in the hundreds of millions. Financial analysts expect the energy bar industry to continue to see lucrative growth throughout 2020 and beyond as the sector continues to capitalize on being first-to-market with many of the hottest dietary trends, including Ketogenic diets and Plant-Based diets.