Global Cereal Bar Market - Growth, Trends, and Forecast (2022 - 2030)
Market Insights
The global cereal bar market is expected to register a CAGR of 3.9% during the forecast period to reach a market value of USD 15.35 billion by 2023.Cereal bars are considered healthy alternatives to other snacks, as they contain high protein and fiber content. The increasing popularity of cereal bars among all age groups supports the growth of this market. Kelloggs, a prominent vendor of cereal bars, holds one-third of the global market share.
Market Dynamics
Increasing consumer preference towards snack bars and energy nutrition bars in place of breakfast cereals owing to hectic schedules and rising health awareness is expected to provide impetus for market growth. The bars have benefited from consumers wanting to eat more healthily with the minimum of effort. They are following the trend toward all-day grazing and the shift to informal, less structured mealtimes. For these snacking occasions, the category competes with other health-focused snack options.
However, rising cost of raw materials like nuts, chocolate, and others to make snack bars and fluctuations in its supply can pose a threat to on time product delivery of snack bars.
Cereal bar market is yet to reach its potential growth in developing regions where people are not completely aware of cereal bars and still consume traditional snack food items like biscuits, chips among others.
Market Segmentation
The global cereal bar market is segmented by the distribution channel into super markets/hyper markets, convenience stores, specialty food stores, and others. With a share of more than 50%, the super markets/hyper markets segment has the highest number of sales.
Regional Analysis
The global cereal bars market has been geographically segmented into North America, Europe, South America, Africa and Asia-Pacific. The market is expected to grow rapidly in the Asia-Pacific region, with India and China holding the largest market share. The increasing middle class population, coupled with a rise in health consciousness among the people, drives the growth of the cereal bars market in the region. In North America, the U.S holds the largest market share, supported by the introduction of sugar-free cereal bars.
Competitive Landscape
Major players – ATKINS NUTRITIONALS, BRUEGGEN, CLIFF BAR, FREEDOM FOODS, GENERAL MILLS, HAIN CELESTIAL GROUP, KASHI, KELLOGGS, MARS, MCKEE FOODS, NATURELL INDIA, and NESTLE SA, among others.
The global market for cereal bars is dominated by Kelloggs, Nestle and General Mills, wherein, Kelloggs alone accounts for one-third of the global sale. A lot of capital is being invested by vendors in research and development to remain competitive in the market, with vendors competing for innovation, pricing, and distribution.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
The global cereal bar market is expected to register a CAGR of 3.9% during the forecast period to reach a market value of USD 15.35 billion by 2023.Cereal bars are considered healthy alternatives to other snacks, as they contain high protein and fiber content. The increasing popularity of cereal bars among all age groups supports the growth of this market. Kelloggs, a prominent vendor of cereal bars, holds one-third of the global market share.
Market Dynamics
Increasing consumer preference towards snack bars and energy nutrition bars in place of breakfast cereals owing to hectic schedules and rising health awareness is expected to provide impetus for market growth. The bars have benefited from consumers wanting to eat more healthily with the minimum of effort. They are following the trend toward all-day grazing and the shift to informal, less structured mealtimes. For these snacking occasions, the category competes with other health-focused snack options.
However, rising cost of raw materials like nuts, chocolate, and others to make snack bars and fluctuations in its supply can pose a threat to on time product delivery of snack bars.
Cereal bar market is yet to reach its potential growth in developing regions where people are not completely aware of cereal bars and still consume traditional snack food items like biscuits, chips among others.
Market Segmentation
The global cereal bar market is segmented by the distribution channel into super markets/hyper markets, convenience stores, specialty food stores, and others. With a share of more than 50%, the super markets/hyper markets segment has the highest number of sales.
Regional Analysis
The global cereal bars market has been geographically segmented into North America, Europe, South America, Africa and Asia-Pacific. The market is expected to grow rapidly in the Asia-Pacific region, with India and China holding the largest market share. The increasing middle class population, coupled with a rise in health consciousness among the people, drives the growth of the cereal bars market in the region. In North America, the U.S holds the largest market share, supported by the introduction of sugar-free cereal bars.
Competitive Landscape
Major players – ATKINS NUTRITIONALS, BRUEGGEN, CLIFF BAR, FREEDOM FOODS, GENERAL MILLS, HAIN CELESTIAL GROUP, KASHI, KELLOGGS, MARS, MCKEE FOODS, NATURELL INDIA, and NESTLE SA, among others.
The global market for cereal bars is dominated by Kelloggs, Nestle and General Mills, wherein, Kelloggs alone accounts for one-third of the global sale. A lot of capital is being invested by vendors in research and development to remain competitive in the market, with vendors competing for innovation, pricing, and distribution.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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