According to the latest report by IMARC Group, titled “Cereal Bars Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global cereal bars market size reached US$ 14.9 Billion in 2022. Cereal bars are a healthy and nutritious food product eaten as a replacement for a meal that increases energy, helps manage weight, increases muscle mass, enhances digestion, and strengthens bones. There are several ingredients used to formulate these bars, including corn starch, biscuits, oats, rice, milk, and edible adhesives. Among other essential nutrients, they contain iron, starch, fiber, proteins, antioxidants, phosphorus, potassium, vitamins, and minerals. With a variety of flavors to choose from, these bars are popular among all age groups as they offer a balanced diet. Additionally, they aid in curbing appetite and providing additional energy during endurance activities.
Global Cereal Bars Market Trends:
The global market is majorly driven by the escalating demand for on-the-go and ready-to-eat (RTE) snacks among the masses. This can be attributed to the fast-paced lifestyles led by the masses, along with inflating disposable income levels of consumers. In line with this, the augmenting health consciousness among individuals are resulting in a higher uptake of the products that are made using organic and natural ingredients. Moreover, the introduction of product variants that are gluten-free and sugar-free, and non-genetically modified (non-GMO) with no additives and preservatives is propelling the market. The market is further driven by the growing participation in physical activities by the individuals, particularly the young population. Some of the other factors providing an impetus to the market include the rising prevalence of numerous diseases, aggressive marketing strategies adopted by the major market players, continual technological advancements, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 23.2 Billion by 2028, exhibiting a CAGR of 7.7% during 2023-2028.
- Based on the product, the market has been segmented into snacks bar, energy and nutrition bar, and others.
- On the basis of the flavor, the market has been divided into caramel, banana, chocolate, honey, strawberry, peanut butter, and others.
- Based on the distribution channels, the market has been categorized into supermarkets and hypermarkets, food specialty stores, convenience stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Atkins Nutritionals Inc (Simply Good Foods Co.), Clif Bar & Company, Eat Natural, General Mills Inc., Kellogg Company, Kind LLC, McKee Foods Corporation, Nestlé S.A, Otsuka Pharmaceutical, and Quaker Oats Co. (PepsiCo).
|Base Year of the Analysis
||Product, Flavor, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Atkins Nutritionals Inc. (Simply Good Foods Co.), Clif Bar & Company, Eat Natural, General Mills Inc., Kellogg Company, Kind LLC, McKee Foods Corporation, Nestlé S.A, Otsuka Pharmaceutical and Quaker Oats Co. (PepsiCo)
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