Global Cereal Bar Market By Product (Energy & Nutrition Bar, Snacks Bar, and Other Products), By Distribution Channel (Convenience Stores, Food Specialty Stores, and Other Distribution Channels), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Cereal Bar Market Overview:

In 2021, the global cereal bars market was worth USD 15,110.17 million. This market is expected to grow at a compound annual growth rate of 9.1% between 2023-2032.

This growth is due to high demand in different countries such as India, U.S., and China for healthy cereal bars. Due to its ability to meet many dietary requirements, the product’s consumption is rising. The volatility in raw material prices will likely impact the growth.

However, high production costs could limit the growth. In order to increase market share, large-scale companies are increasing their geographic presence. It is expected that in the coming years, the establishment of joint warehouses in key locations for timely distribution of the products will remain a crucial success factor.

Global Cereal Bar Market Analysis

Product Information

The snack bar is often used as a convenient and healthy snack option for meals or snacks. Snack bars are perceived to aid weight management by providing products that reduce fat, provide the extra nutrition, or help control calories. These products appeal to people who are concerned about their health and to those who want to achieve specific health goals.

Due to increasing demand for natural and healthy products, as well as growing consumption of cereals in Brazil, the U.S., and Mexico, the global energy and nutrition bar products segment will see significant growth over the next few years. The abundance of raw materials, including wheat, corn, and barley, will be a major driver of growth.

Other products, such as granola bars, offer numerous health benefits. They can lower cholesterol, help with weight loss efforts, increase energy, regulate digestion, improve heart health, and more. They are also known to help manage diabetes and build stronger bones. These advantages will drive demand for the products over the forecast.

Distribution Channel Analysis

Market leaders are supermarkets, hypermarkets, convenience stores, and other retailers. In terms of revenue, the U.S. segment of convenience stores held approximately 36.5% 2021 of the global market share.

Due to their high product availability and easy access to a large customer base, supermarkets and hypermarkets are expected to dominate the market during the forecast period. These consumers will be more selective in deciding which brands offer different types and prices of cereal bars.

Key Market Segments

By Product

• Energy & Nutrition Bar
• Snacks Bar
• Other Products

By Distribution Channel

• Convenience Stores
• Food Specialty Stores
• Hypermarket & Supermarket
• Other Distribution Channels

Market Dynamics

Over the forecast period, snack demand will be driven by an increasing purchasing power parity. It has been increasing dramatically in recent years. Consumption of dried fruit snacks, which are rich in fiber, vitamins, and minerals, is expected to increase. Customers will continue to increase their spending over the forecast period, driving the growing demand for snack-on-the-go snacks. Market growth will be aided by the fast-paced lifestyle of consumers.

The Asia Pacific was the region with the highest share of the cereal bar market. The benefits of cereal bars are being recognized by consumers in emerging economies. Over the forecast period, the market will be boosted by the expansion of distribution networks for food products. Growth will be positively affected by the rising spending capacity of customers in this region.

For the past 20 years, cereal bar raw materials like rice and corn have been grown commercially. A large community of experts has agreed that these products are safe for human consumption. China, Brazil, Russia, and India are the most important regions for increasing cereal raw materials. India is the dominant nation.

Regional Analysis

North America held a substantial market share in terms of demand in 2021. This was due to consumers changing their eating habits, such as snacking or eating between meals. The market is likely to grow quickly due to the rising demand for healthy snacking alternatives. In the near future, regional growth will be further fueled by attractive packaging and innovative flavors at affordable prices.

Healthy cereal bars are expected to see decent growth during the forecast period. This is because of the high demand for breakfast cereals and cereals, particularly in countries like the U.S. and China among consumers of all ages.

The market in Europe held the largest revenue share of 41% in 2021. Europe’s companies are working hard to increase product sales. They focus on attracting more customers through innovative products, eye-catching packaging, and other marketing strategies.

European demand has been boosted by the rising popularity of snacking among young people. The demand for cereal bars is expected to rise due to increasing awareness about the health benefits associated with innovative snacks over the forecast period. Urban consumers are increasingly under pressure to balance work and family life. This is increasing the demand for ready-to-eat snacks. This is expected to increase the demand for regional products.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Markets are characterized by joint ventures as well as mergers and acquisitions. Diversification of distribution channels is important to increase the market share and strengthen the position. High barriers to entry due to difficult registration and high capital investment are likely to keep industry participants in the competition.

The industry’s rapid growth, brand loyalty, and high level of industrial rivalry are expected to continue. Companies are focusing on optimal business growth through executing multiple growth strategies.

Маrkеt Кеу Рlауеrѕ:

• Кеllоgg
• Nеѕtle
• Gеnеrаl Міllѕ
• Рерѕі
• Мсkее
• Quаkеr Оаtѕ
• Аtkіnѕ Nutrіtіоnаlѕ
• Other Key Players

For the Cereal Bar Market research study, the following years have been considered to estimate the market size: