The global cereal bars market size is expected to reach USD
17.66 billion by 2025, according to a new report by Grand View Research, Inc.
It is projected to expand at a CAGR of 6.1% during the forecast period. Cereal
bars are widely being consumed in developed economies. The growth in granola
and nutrition bar product segment is expected to further drive the market.
Rising awareness about the consumption of cereal bar is also likely to fuel the
growth.
Growing emphasis on
quality products in developed economies such as Europe and North America owing
to the rising purchasing power of the consumers is expected to drive the market
over the forecast period. Rising competition among manufacturers and an
emphasis on product differentiation and innovation has led to the development
of differently priced cereal bar products.
The need for the product
to comply with stringent guidelines and the ability to meet the necessary
rating criteria, in terms of regulations, depending upon the product is likely
to pose a challenge to market growth over the next seven years. In addition,
there is a rising pressure from consumers in terms of the quality cereal bars,
which has led to a rise in product cost. The cost is mainly affected by the raw
materials in use and the manufacturer has to bear the additional raw material
prices.
Snacks bars segment led
the cereal bars market and constituted more than half of the total market share
in 2018. Some of the leading players in the market include General Mills, Inc.;
Nestle S.A.; Atkins Nutritionals; Cliff Bar & Company; Kind LLC; Hain
Celestial Group; and the Kellogg Company.
Cereal bars is a
lucrative market on account of growing spending capacity of consumers. They are
generally consumed between regular meals in smaller portions as compared to
regular meals. Various popular product options include dried fruit snacks and
granola bars.
Hypermarkets and
supermarkets distribution channel type occupies a dominant market share owing
to the fact that the consumers in this sector are more likely to be more
selective pertaining to existence of several brands and about the products in
various forms, quantity, quality, and cost.
Asia Pacific is one of
the most noticeable markets and is expected to witness the fastest growth over
the forecast period. Increasing household income and economic growth are some
of the major drivers triggering the regional growth.
For full research report on Cereal Bar
Market visit here:
https://www.grandviewresearch.com/industry-analysis/cereal-bar-market
Further key findings from the report
suggest:
- Snack bars product segment is projected to register
a CAGR of 5.6% from 2019 to 2025
- In terms of revenue, energy and nutrition product
segment is anticipated to register the fastest growth in the forthcoming
years
- Hypermarket and supermarket led the global cereal
bars market with a share of over 45.49% in 2018
- Central and South America is a natural resource-rich
region marked by the presence of expanding consumer base and low-cost
labor markets. Rising middle-class income fueled healthy cereals bars to
be reasonably priced for consumers is likely to fuel the regional growth
- Natural and healthy cereal bars is anticipated to
have a decent upsurge in demand over the forecast period, on account of
the increasing demand for the product as breakfast cereal bars, most
particularly among individuals of all age groups in countries such as
U.S., India, China, Germany, and Japan
- Some of the key companies present in the market are
General Mills, Inc.; Nestle S.A.; Atkins Nutritionals; Cliff Bar &
Company Hain Celestial Group; and The Kellogg Company. The market is
extremely competitive with companies partaking in various initiatives
including acquisitions, frequent mergers, strategic alliances, and capital
expansion
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/cereal-bar-market/request/rs1
Grand View Research has segmented the global cereal bar
market report on the basis of product, distribution channel, and region:
Cereal Bar Product Outlook (Revenue, USD
Million, 2014 - 2025)
- Snacks Bar
- Energy & Nutrition Bar
- Others
Cereal Bar Distribution Channel Outlook
(Revenue, USD Million, 2014 - 2025)
- Hypermarkets & Supermarkets
- Food Specialty Stores
- Convenience Stores
- Others
Cereal Bar Regional Outlook (Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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