Plant-Based Bars Market Analysis

The plant-based protein bars market was valued at more than USD 1 billion in 2022. Changing food preferences and a rapid shift from animal protein to plant-based protein are fueling the demand for vegan foods. Veganism is trending across developed and developing economies, whereas consumers are spending liberally on novel plant-based formulations. Moreover, the growing protein demand among fitness enthusiasts and health-conscious consumers will boost the consumption of vegan protein bars.  

The organic plant-based bars market size will expand at 10% CAGR between 2023 and 2032. Organic snacks offer various health benefits over synthetic, artificial, and inorganic food products. Organic food ingredients are rich in antioxidants and provide a nutritional alternative to unhealthy snacks filled with preservatives. Additionally, these food products are free of pesticides, fertilizers, and GM. Moreover, growing concerns regarding food allergies associated with inorganic food additives will propel consumer preference for organic vegan foods.

U.S. plant-based bars market dominated more than USD 1 billion revenue in 2022, due to the growing efforts encouraging veganism and focusing on reducing the impact of animal agriculture and its associated carbon footprint. Plant-based foods have gained significant momentum in the U.S., attracting a large number of Americans. As per the Vegetarian Resource Group, in 2022, vegetarians and vegans accounted for 6% and 3% of the U.S. adult population, with 29% preferring a vegan meal occasionally.