|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global cereal bar market is projected to grow at a CAGR of 8.5% during the forecast period (2021-2026).
The COVID-19 pandemic had led to greater demand for snacking items such as cereals bars and snack bars globally. Lockdowns across the world have in a way forced consumers to stack up on eat-at-home and long-lasting cereal products like breakfast cereals, granola bars and other cereal bars. Major producers like Kellogs and General Mills have increased production to ensure that they can meet the rising consumer demand.
Cereal bars are being consumed as replacements for breakfast bars. Cereal bar-producing companies are offering several tailor-made products, which are not only nutritious and beneficial for health, but also appetizing.
The market studied is yet to reach its potential growth in developing regions, where people are not completely aware of cereal bars and still consume traditional snack food items, like biscuits, chips among others.
Globally, cereal bars made of granola and muesli are observing strong growth over the years, owing to its taste, nutritional value, and functionality. Cereal bars infused with organic ingredients, like dried fruits among others, are observed to be gaining demand during the forecast period.
Scope of the Report
Cereal bars are made up of cereals such as wheat, barley etc. The cereal bar market is segmented by product type as granola/muesli bars and others. By distribution channel, the market is segmented into convenience stores, supermarkets/hypermarkets, specialty stores, online stores and other distribution channels. By geography, the market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. For each segment, the market sizing and forecasts have been provided on the basis of value in USD million.
|By Product Type|
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
Rising Demand For On-The-Go and Small-Portion Snacking
Nutrition bars such as cereal bars are becoming extremely popular, especially among the working-class people, teenage children, people living in hostels, and bachelors, among others.These nutrition bars offer a portable, convenient, and often healthier choice for a quick, on-the-go meal or an immediate consumption choice to stave off hunger. The availability of a plethora of types and flavors is an added factor responsible for driving the market. Also, according to the United States Department of Agriculture (USDA), Americans spend more than half of their food budget on convenient foods, including snack bar, thereby, driving the consumption of cereal bars in the United States, which is one of the major consumer of the cereal bar and other snack bars in the world.
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North America Holds the Largest Share of the Market
The North American cereal bar market witnessed growth, owing to the consumers’ need for convenient and on-the-go snack options. Further, cereal and energy bars are the most popular snacks among adults in this region. New products, an increase in demand for low-fat cereal bars, the increasing popularity of on-the-go grab breakfasts, the change in snacking culture, and broad retail distribution that encourages both planned and impulse buying decisions are expected to be key drivers for the market studied in this region. The United States accounts for majority of share in the North America region, with innovation in, and availability of, a wide range of products. Players, such as Kellogg’s, Nestle, General Mills, and Clif Bar and Co. adopt product-marketing strategies.
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The Cereal bar market currently has major players such as The Kellogg Company, General Mills, and Clif Bar & Company, among others. Major emerging market players targeting leading brands are making strategic acquisitions of the market leaders in the more mature and sophisticated markets. Acquiring these brands enables diversification and gives these players access to stable cash flows and further growth opportunities. The market studied witnesses high competition from a considerable number of regional small-medium scale players and major global players.
- In 2020, Kellogg Co. had introduced Kellogg’s Cereal Bars. They are made with cereal pieces equal to a half serving of cereal by weight, the bars come in Kellogg’s Frosted Flakes and Kellogg’s Froot Loops varieties. Each grab-and-go bar contains 90 to 100 calories and 8 grams of sugar.
- In 2019, KIND Snacks made its first acquisition of a North Carolina-based clusters, trail mixes and granolas producer - Creative Snacks for an undisclosed sum.
- In 2019, Nature Valley had introduced Wafer Bars, which are made with whole grain, layers of peanut butter and topped with granola. The bars are available in the peanut butter and peanut butter chocolate varieties.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Granola/Muesli Bars
5.1.2 Other Bars
5.2 By Distribution Channel
5.2.1 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Stores
5.2.5 Other Distribution Channels
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 PepsiCo, Inc.
6.4.2 The Kellogg Company
6.4.3 General Mills Inc.
6.4.4 Clif Bar & Company
6.4.5 Freedom Nutritional Products Limited
6.4.6 Sproutlife Foods Private Limited (Yoga Bar)
6.4.7 Kind LLC
6.4.8 NuGo Nutrition
6.4.9 Post Holdings
6.4.10 Simply Good Foods Co (Atkins Nutritionals Inc.)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Cereal Bar Market market is studied from 2016 - 2026.
What is the growth rate of Cereal Bar Market?
The Cereal Bar Market is growing at a CAGR of 8.5% over the next 5 years.
Which region has highest growth rate in Cereal Bar Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cereal Bar Market?
North America holds highest share in 2020.
Who are the key players in Cereal Bar Market?
Freedom Nutritional Products Limited, PepsiCo, Inc., General Mills, Clif Bar & Company, The Kellogg Company are the major companies operating in Cereal Bar Market.