The global cereal bars market size is set to be valued at US$ 13,221.3 Mn in 2022. As per FMI, the market is expected to reach a valuation of US$ 22,798.9 Mn by the end of 2032 and exhibit growth at a CAGR of 5.6% during the forecast period (2022-2032).
Plant-based products are both healthier and safer than animal-based products. The cereal bars market is being driven by growing popularity of veganism and health consciousness among consumers around the world. Besides, various dietary requirements such as low or no sugar content, low cholesterol levels, and low salt content of consumers can be easily met by cereal bars, thereby pushing sales.
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Cereal bars are linked to weight gain and weight loss. A new study, which was published in the International Journal of Obesity, followed a group of overweight adults for 16 weeks. Participants who ate two cereal bars per day lost an average of 5% of their body weight, while those who did not eat cereal bars gained an average of 1%, which has led to growing consumer preference for these bars. These factors are projected to accelerate the cereal bars market in the next decade.
Another factor driving the increased sales of cereal bars is the fact that they are an easy and affordable way to get a nutritious breakfast or snack on-the-go. With more people leading busy lifestyles, cereal bars offer a quick and easy solution for those who want to make sure they’re getting a nutritious meal or snack. As they are compact and easy to transport, cereal bars are a great option for busy people on-the-go. To keep up with the changing cereal bars market trends, manufacturers are developing novel ways to incorporate their product into various processed foods.
Key Takeaways: Cereal Bars Market
- India currently holds a cereal bars market share of around 33.2% in South Asia.
- By product type, the granola bar segment is set to generate a significant share of 23.2% in 2022 in the global cereal bars market.
- During the forecast period, the U.K. cereal bars market is expected to grow at a considerable CAGR of 6.6%.
- During the forecast period, the Germany cereal bars market is set to exhibit growth at a high CAGR of 4.8 %.
- During the forecast period, the France cereal bars market is estimated to grow at a steady CAGR of 5.5%.
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“Increasing adoption of meal replacement cereal bars by people who are trying to lose weight, or by athletes and bodybuilders who need a quick source of energy before or after a workout is projected to boost the market,” says a lead analyst at Future Market Insights.
Competitive Landscape: Cereal Bars Market
Top 5 manufacturers in the global cereal bars market are Nestlé SA, General Mills, Inc., Atkins Nutritionals, Kellogg Company, and Quaker Oats Co. These companies are together holding 20% to 30% of the global cereal bars market share.
Companies are using cereal bars in their break rooms and vending machines. These bars are a healthy alternative to traditional snacks like candy bars and chips. They are also convenient and easy to eat on-the-go. With increasing research & development activities and technological advancements, companies are finding new techniques to effectively use cereal bars and bakery items to their maximum potential.
Clif Bar, for instance, is a company that makes cereal bars and other energy snacks. Clif Bar uses cereal grains in its products as they provide the body with sustained energy. The company’s products are specially designed to be nutritious and convenient, so that people can have a healthy snack or meal on-the-go.
Get More Valuable Insights on Cereal Bars Market
Future Market Insights, in its new offering, provides an unbiased analysis of cereal bars presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the cereal bars market based on by product type (snack bar, energy & nutrition bar, protein bar, granola bar, others), by flavor (caramel, chocolate, peanut butter, honey and others), by distribution channel (supermarkets/hypermarkets, convenience stores, e-commerce, specialty stores, others), by application (boost energy, muscle building, weight gainer, meal replacement, lean muscle), by form(solid, liquid).
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