Natural Products Insider

MAY-JUN 2019

INSIDER is the leading information source for marketers, manufacturers and formulators of dietary supplements, healthy foods and cosmeceuticals. Since 1997, INSIDER has been serving the needs of the global nutrition industry.

Issue link: http://digital.naturalproductsinsider.com/i/1110619

Contents of this Issue

Navigation

Page 36 of 48

32 INSIDER May /June 2019 In today's on-the-go, fast-paced world, quick, convenient and portable snacks are king. And with today's consumers more health-conscious than ever, those convenient snacks need to provide the right kind of nourishment. It should come as little surprise, then, that the global market for wellness bars continues to thrive. According to data from SPINS, the global wellness bar market was worth nearly US$2 billion in 2017, growing 8.9 percent over the previous year. As the market continues to expand, it is becoming more crowded. "Despite the high numbers of new products launched every year, nutritional bars are essentially a mature category," said Chris Schmidt, bars, snacks and cereal team lead at DuPont Nutrition & Health. Because of this, brands are being forced to differentiate themselves with new ingredients, benefi ts and products to ensure they acquire and retain their share of the market. While this certainly creates a challenge for the industry, it also represents an opportunity to formulate new and exciting products for an ever-growing, increasingly educated consumer base. "To stand out in this crowded fi eld, brands fi rst need to understand who is buying bar products, how they perceive different product categories and why they consume bars," said Pam Stauffer, global marketing programs manager, Cargill. "Clearly, convenience is paramount, but consumers also expect bars to be made with simple ingredients, deliver nutritional benefi ts and taste great. The segment has evolved from its granola and cereal bar roots to offer consumers products that offer energy, protein and fi ber, backed by a dizzying array of health claims—packaged and marketed with a hip vibe that speaks to shoppers' lifestyles and values." Even within the most tried-and-true markets, innovation is key. Protein remains the top ingredient in the wellness bar category; according to Mordor Intelligence, the global protein bar market was valued at $837 million in 2016 and expected to grow at a 3.9 percent compound annual growth rate (CAGR) through 2023. But a category once dominated by whey and soy has expanded in recent years to include all kinds of animal- and plant-based proteins to ensure an option is available for every kind of consumer. "Today, plant proteins such as pea, beans and lentils are gaining traction," Stauffer said. "These newer proteins fi t many of today's biggest product development trends: non-GMO [genetically modifi ed organism], organic, sustainable, vegan, gluten free, soy-free, label friendly and more." She pointed to PURIS™ pea protein, which is made from a proprietary blend of pea seed "specially selected to minimize the off-fl avors normally attributed to pulses." Another surprising source of protein: pumpkin seed. Winner of the 2017 SupplySide W est CPG Editor's Choice Award in the bars category, Health Warrior's ® pumpkin seed bars provide 8 g of protein per bar from pumpkin seeds; the only other ingredients in the bars are honey and spices. While plant-based proteins are on the rise, animal proteins are also being delivered in new and exciting forms in the nutritional bars market. "The meat snack category has and will continue to see impressive growth, according to Datamonitor," said Stephanie Lynch, vice president of sales, marketing and technology, International Dehydrated Foods Inc. (IDF ® ). "However, consumers want something other than jerky-style meat snacks, and this desire has led to the introduction of meat bars, which are a convenient way to deliver protein and other nutritional benefi ts." Brands such as Country Archer™, DNX™, EPIC™ and Krave have all introduced meat bars utilizing grass-fed beef, poultry and even fi sh to provide high sources of on-the-go protein. IDF offers CHiCKPRO™ Chicken Protein Powder and Hydrolyzed CHiKPRO Broth Bars Overcrowding in the nutritional bars market is forcing brands to get more creative with their offerings. Protein bars remain king with brands expanding their plant-based options. New formulations can set brands apart, while also drawing in—and helping retain—consumers. Crowded Market Forcing New Innovations in Nutrition Bars by Alex Smolokoff INSIDER's Take 8.9 % According to data from SPINS, the global wellness bar market was worth nearly US$2 billion growing in 2017 , over the previous year.

Articles in this issue

Archives of this issue

view archives of Natural Products Insider - MAY-JUN 2019