United Kingdom Energy Bar Market by Distribution Channel and Geography - Forecast to 2023: A $135 Million Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 26, 2018--The “United Kingdom Energy Bar Market - Segmented by Distribution Channel, and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The UK Energy Bar market is expected to reach USD 135 million by 2023, witnessing a steady CAGR during the forecast period. Energy Bar consumption volume in the region surpassed 2.53 million Kg in 2017.
Increased demand for health and nutrition products, impulse purchase and product innovation are the key factors driving the Energy Bar market. Growing demand for clean label products with active ingredients are further driving the market. Health concern related to high sugar content and fluctuating commodity prices are affecting the market growth.
Free-from on the Rise
Clean label and free-from products are leading the way in the UK, which is growing at a faster pace in the energy bar market. Natural Balance food’s Naked Energy bar range, with gluten-free, no added sugar and dairy-free range sales increased by 80.5%. Another soy-based protein bar company TREK recorded a growth of 373% to reach USD 3.85 million. The product launched with simpler ingredients are gaining sales.
Natural Balance Foods that highlight its energy bar which contains only five ingredients instead of 30 ingredients in the conventional bar recorded increase in sales. Increased consumer demand for the nutritional product and rising clean label claims on product accelerated the market growth in the region.
Product launch with various label claims, such as no artificial additive, high or added fiber, and reduced sugar achieved strong growth in the past five years. Expensive brands offering product composed of the natural and organic ingredient is expected to increase sales.
Supermarkets Leading Sales
Supermarket/hypermarkets led the sale with more than half of the distribution channel sale. Discount price offer on bulk purchase are driving sales in supermarkets/hypermarkets.
Convenience Stores is another growing retail channel in the UK, which recorded a growth of 6% in the past five years. Vending machine energy bar sale recorded a significant increase of 8.1% during past five the year 2012-2017. Variety stores and online sales are another growing retail channel driven by the wide brand availability.
Key DevelopmentsAduna Superfood launched energy bar, the range includes Banana Boost powered by Baobab Superfruit, Berry Bite powered by Hibiscus Superflower and Choc-Orange Burst powered by raw Cacao
Key Topics Covered
2. Research Approach and Methodology
3. United Kingdom Energy Bar Market Overview
4. United Kingdom Energy Bar Market Segmentation
5. Competitive Landscape
6. List of Company Profiles
7. Companies CoveredAbbott Laboratories Glaxosmithkline PLC Maxinutrition Ltd. Weider Nutrition Group (Canada) Ltd. QuestNutrition LLC Probar LLC Nutrition Inc. (Pureprotein) Clif Bar & Company The Gatorade Company PowerBar Inc. Hormel Foods Corporation Nature’s Bounty Co.
For more information about this report visit https://www.researchandmarkets.com/research/dx8d4s/united_kingdom?w=4
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Related Topics:Snacks and Confectionery
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: OTHER SPORTS RETAIL FOOD/BEVERAGE OTHER RETAIL SPORTS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/26/2018 05:52 AM/DISC: 09/26/2018 05:51 AM