Cereal Bar Market Valued at USD 14.51 Billion in 2024, Expected to Surpass USD 22.64 Billion by 2034

The latest insights into the cereal bar market indicate a valuation of USD 14.51 billion by 2024. Driven by rising health awareness and a demand for innovative flavors, cereal bar consumption is on the rise. Projections suggest that sales could surpass USD 22.64 billion by 2034, reflecting a compounded annual growth rate (CAGR) of 5.60% over the forecast period.

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.

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 are 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.

“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.

Market Players Shaping the Outlook of the Cereal Bar Market

The market is competitive and fragmented, with numerous local and regional companies competing for market stakes. Key players use different trade strategies to stay competitive, such as creating partnerships, raising production, engaging in mergers and acquisitions, and collaborating with other industry players.

As consumer preferences evolve, global food and beverage manufacturers need help presenting novel and compelling flavors to their offerings. These companies are leveraging all research and development powers to form unique and persuasive products that appeal to the tastes and preferences of consumers. The cereal bar market is evolving as dynamic and diverse, with eclectic flavors and ingredients available to consumers.

Recent Developments

• In March 2024, Bagrry’s, a renowned breakfast cereal and health food brand, re-introduced ‘Mighty Muesli Bars,’ a cereal bar product first introduced in the Indian market in 1998.
• In December 2023, Mars China introduced the SNICKERS dark chocolate cereal bar, featuring sustainable packaging made from mono PP material, offering low-sugar and GI options and recyclable packaging.
• In October 2023, Alpen introduced new Alpen Delight bars, available in six flavors, including Chocolate, Caramel and Shortbread, Raspberry Rocky Road, Chocolate Honeycomb, Salted Caramel, White Chocolate, Raspberry and Shortcake, and Chocolate Brownie. Each variety comes in a multipack of five bars, each containing less than 100 calories.
• In August 2023, Simply Good Foods introduced Atkins Soft Baked energy bars, providing a protein-rich breakfast option in blueberry and macadamia nut varieties with minimal sugar and net carbs.