Between 2020 and 2028, the vegan protein bar market according to the FMI will grow at a CAGR of 12%. There is an increased sense of focus on health and wellness since the last few years plus the pandemic has brought people to really put a thought on what goes inside their bodies and how it affects their well being.
The environmental concerns are surging and there is a growing awareness relating to animal cruelty. All of this is increasing the demand of vegan products worldwide. This is leading to people asking for more of the vegan protein bars in the market.
Worldwide people are accepting a vegan lifestyle. Thus the vegan protein bars market is expanding. The trend is boosting the sale of vegan products and it will continue to rise in the upcoming years.
The pandemic has brought many businesses to a standstill but the vegan product market is not the one. In fact it has grown more with people preferring to eat more vegetable and vegan protein over eating animal products.
But there has been a problem in sourcing raw material as well as product reaching customers due to the hampered transport industry. 2021 is expected to uplift the market. The demand has been fueled in the market and it will need to be met. Vegan product makers are looking at enhancing the nutritional values of their products and giving their customers better health.
New products have been launched in the market by the key players in the vegan protein bars market from Simply Protein, PROBAR LLC, BHU Foods, NuGo Nutrition, Health Warrior, Garden of Life, Gomacro, Risebar to Raw Rev.