Summary
The India Energy Bar Market is segmented by by flavors (Chocolate, Vanilla, Peanut, Almond), by source (Plant-Based, Animal-Based, Marine-Based), by category (Gluten-Free, Sugar-Free, Vegan), and by distribution channel (Supermarkets & Hypermarkets, Convenience Stores, Drug stores, Specialty Stores, E-Commerce). Factors such as Growing health and wellness trends, rising Influence of influencers and fitness professionals, expansion in distribution channels are driving India Energy Bar market.
Market Overview
India Energy Bar Market Highlights
India Energy Bar Market is expected to reach USD 284.7 Bn by 2029 with a CAGR of 6.10% during the forecast period 2023-2029.
Growing health and wellness trends, rising Influence of influencers and fitness professionals, expansion in distribution channels are some of the major drivers of India Energy Bar Market.
Unibic, Yoga Bar, Eat Anytime, HealtKart, General Mills are some of the major players in India energy Bar Market.
India Energy Bar Market Definition
India Energy Bar Market: In this report, the India Energy Bar Market is based on revenue generated by major energy bar manufacturers (in USD billion). The market is segmented by flavors (Chocolate, Vanilla, Peanut, Almond), by source (Plant-Based, Animal-Based, Marine-Based), by category (Gluten-Free, Sugar-Free, Vegan), and by distribution channel (Supermarkets & Hypermarkets, Convenience Stores, Drug stores, Specialty Stores, E-Commerce). The report encompasses all the major players such as Unibic, Yoga Bar, Eat Anytime, Health Kart, and General Mills. Additionally, the report will analyze market future projections, industry analysis, and key factors influencing India Energy Bar Market.
Taxonomy
India Energy Bar Market Ecosystem
Market Ecosystem of India Energy Bar
India Energy Bar Market Size (In USD Bn), 2018-2023
However, in 2020 and 2021, the market faced declines, recording sizes of USD 176 billion, and USD 183.2 Bn, respectively. These downturns were likely influenced by economic slowdowns and disruptions caused by the COVID-19 pandemic, impacting consumer spending habits, and supply chain operations.
Despite these challenges, factors such as increasing health consciousness and a growing demand for convenient, nutritious snacks continued to drive the market's overall positive trajectory over the historic period.
India Energy Bar Market Industry Analysis
India Energy Bar Market Segmentation, 2022
India Energy Bar Market Segmentation by Flavor (in revenue %), 2022
The market segmentation of the India energy bar market by flavor reveals distinct preferences among consumers. Chocolate emerges as the dominant flavor, holding a significant market share of 37%, likely due to its widespread popularity across all age groups. Following closely is peanut flavor, capturing 22% of the market share, reflecting the enduring appeal of nutty flavors and their perceived health benefits.
Meanwhile, vanilla and almond flavors account for 15% and 14% of the market share, respectively, indicating a preference for classic and nutty profiles. The remaining 12% market share attributed to other flavors like butterscotch, strawberry, and hazelnut highlights the demand for diverse flavor options.
This segmentation underscores the importance of flavor variety in meeting consumer preferences and suggests a strong inclination towards classic and nut-based flavors in the India energy bar market.
India Energy Bar Market Segmentation by Source (in revenue %), 2022
In the segmentation of the India energy bar market by source, plant-based options emerge as the dominant category, commanding a substantial market share of 57%. This preference can be attributed to several factors, including the rising popularity of plant-based diets driven by health and environmental concerns, as well as the perception of plant-based ingredients as wholesome and nutritious.
Following plant-based options are animal-based energy bars, holding a market share of 34%. Despite the growing interest in plant-based alternatives, animal-based options continue to appeal to consumers seeking sources of protein and other nutrients derived from animal products.
Lastly, marine-based energy bars account for a smaller market share of 9%, reflecting a niche segment within the market. While marine-based ingredients offer unique nutritional benefits such as omega-3 fatty acids, their limited availability and specific taste may restrict broader consumer adoption.
India Energy Bar Market Future Outlook
The India energy bar market demonstrated significant growth, reaching USD 199.6 billion in 2023 and is poised to expand to USD 284.7 billion by 2029.
This growth trend is underpinned by a robust Compound Annual Growth Rate (CAGR) of 6.10% during the forecast period. Several factors contribute to this positive trajectory, including heightened health consciousness among consumers, a growing preference for convenient and nutritious snacks, and a shift towards healthier lifestyle choices.
- Furthermore, advancements in food technology and continuous product innovation drive market expansion by offering a wide array of flavors, ingredients, and formulations to cater to evolving consumer demands. The market's resilience amidst shifting dietary trends and preferences underscores its potential for sustained growth in the coming years.
India Energy Bar Market Competitor Analysis
| Company Name | Establishment year | Description |
|---|---|---|
UNIBIC | 2004 | Headquartered in Bangalore, UNIBIC is known for its rich and flavoursome cookies that take a bite of the premium cookie market. Unibic is among India's biggest FMCG brands, offering more than 40+ product variants and straddling into various innovative spheres. As the largest wire-cut cookie manufacturer in India, Unibic has mastered the art of crafting cookies and introduced uniquely deviant products like Snack Bars and Wafers. It has successfully garnered countless followers and created massive waves across the globe. |
HealthKart | 2011 | HealthKart is a trusted house of brands with MuscleBlaze and HK Vitals being India’s no. 1 sports nutrition and online vitamin brands. HealthKart also offers a comprehensive range of products dedicated to the vegan community, kids and women for their wellness and fitness needs. Founded in March 2011 by Sameer Maheshwari, an IIT and Harvard Business School graduate, HealthKart focuses on Quality, Authenticity, Affordability and Accessibility while delivering good health at your doorstep. Apart from being India’s largest health and nutrition-based online marketplace, HealthKart is also supported by 100+ retail stores. |
EAT Anytime | 2016 | EAT Anytime is a part of Wholesome Habits which aims at promoting a healthier lifestyle among the masses. Each product is made with the idea of giving you the rite bite every time you want to indulge in something delicious but healthy. Energy Bars, Protein Cookies, Trail Mixes are a few of the products they offer. EAT Anytime nutrition bars are healthy energy bars which are wholesome and healthy snacks made of 100% natural ingredients such as dates, nuts, oats, seeds, etc. Each product is carefully blended under the supervision of a nutritionist to provide customers with a perfect balanced meal packed in pocket-sized healthy energy bars. |
Yoga Bar | 2014 | Yoga Bar is a Bangalore-based health-food brand. Their mission is to make the country eat healthier. They’ve grown exponentially since we started in 2015. Yoga Bar one of the most recognised health-food brands in the country. The company is founded by sisters Anindita and Suhasini Sampath (LBS, Wharton, IIM-C, and BITS Pilani). Yoga Bar has been nominated has one of the top women-led startups in the country by various publications. They have an aggressive, fast-paced, and mission-oriented culture. Yoga Bar promise significant autonomy and room for experimenting. Their culture is centered on respect, innovation and growth. |
General Mills | 1856 | General Mills, Inc., is an American multinational manufacturer and marketer of branded ultraprocessed consumer foods sold through retail stores. Founded on the banks of the Mississippi River at Saint Anthony Falls in Minneapolis, the company originally gained fame for being a large flour miller. Today, the company markets many well-known North American brands, including Gold Medal flour, Annie's Homegrown, Lärabar, Cascadian Farm, Betty Crocker, Yoplait, Nature Valley, Totino's, Pillsbury, Old El Paso, Häagen-Dazs, as well as breakfast cereals under the General Mills name, including Cheerios, Snack Bars, Energy Bars, Wheaties, Chex, Lucky Charms, Trix, Cocoa Puffs and Count Chocula and the other monster cereals. |
India Energy Bar Market Macroeconomic Indicators
India's population is currently 1437 million in 2023, increasing by 30 million from 1407 million in 2022. By the end of 2025, India's population is predicted to reach 1500 million.
In the year 2020, The population between the 25-49 age group is the largest age group (36.40%) in India followed by 0-14 (26.40%), 50+ (19.40%), and 15-24 (18%).
In 2023, India's GDP was valued at USD 3732 billion, up from USD 2710 billion in 2018. The country’s GDP is expected to reach 5000 billion by the end of 2025.
In 2023, India’s Inflation rate stands at 5.66 % an increase of approximately 2.5% from the 2018 inflation rate of 3.94%. During the COVID-19 pandemic in 2020, the inflation rate in India surged unexpectedly to 6.62% from 3.72% in 2019.
As of 2023, India comprises of majority of the middle-class population which is 57% of the total population of India.
After the middle class comes the lower-class category which comprises 33% of the total population of India. The remaining 10% of the population belongs to a high-income class.
India Energy Bar Market Frequently Asked Questions
Frequently Asked Questions