Burnaby, British Columbia,, Canada, October 02, 2015 --(PR.com
)-- 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. The India nutrition bars market has a large base of young consumers, which account for a majority of the workforce in the country and hardly find time for traditional cooking due to their busy schedule. As nutrition bars can be easily consumed at office spaces as well as during travel, young consumers are increasingly including nutrition bars in their daily diet plans.
The 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 the period on account of increasing health conscious consumers and a 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 a crucial role in creating awareness among consumers by organizing various health camps where consumers can seek consultation from nutrition experts and dieticians.
The cereal bars market segment dominated the country’s nutrition bars market on account of increasing consumer awareness regarding the 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.