India Nutrition Bars Market to Grow at Over 29% Through 2020, Says TechSci Research
24 Sep 2015 --- According to a recently published report by TechSci Research, "India Nutrition Bars Market Forecast & Opportunities, 2020", the nutrition bars market in India is anticipated to grow at a CAGR of more than 29% during 2015 - 2020 on account of increasing working population, rising per capita expenditure, growing incidences of lifestyle diseases and surging youth population. India nutrition bars market has a large base of young consumers, which account for majority of the workforce in the country and hardly find time for traditional cooking due to their busy schedule. As nutrition bar can be easily consumed at office spaces as well as during travel, young consumers are increasingly including nutrition bars in their daily diet plans.
Nutrition bars market in India is still in its embryonic stage, predominantly due to high product prices. However, the market is anticipated to grow at a significant pace during forecast period on account of increasing health conscious consumers and rising number of obesity and lifestyle related diseases in the country. Other key reasons attributed to boost market demand include changing lifestyle, rising disposable income and increasing middle class households. Moreover, nutrition bars manufacturers are playing crucial role in creating awareness among consumers by organizing various health camps where consumers can seek consultation from nutrition experts and dieticians.
Cereal bars market segment dominated the country's nutrition bars market on account of increasing consumer awareness regarding health benefits of multi cereal bars. Protein bars are also gaining popularity among consumers suffering from lifestyle diseases as well as weight conscious people. Region-wise, south India dominated the India nutrition bars market in 2014, and the region is forecast to maintain its dominance during 2015 - 20.
"Nutrition bars provide a very convenient and easy way to supply essential nutrients to the body. Though concept of these bars is still new in India, it is anticipated that these bars will become popular among consumers in the years to come. With increasing demand for healthy & nutritious food in the country, demand for nutrition bars is growing at a robust pace and it is expected to carve out a portion of the chocolate market by 2020. Few of the leading companies operating in nutrition bars market in India include Naturell, General Mills, Nouveau Medicament (P) Ltd. and Xterra Nutrition." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Nutrition Bars Market Forecast & Opportunities, 2020" has analyzed the potential of the nutrition bars market in India and provides statistics and information on market size, consumer behavior and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the nutrition bars industry in India.
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
