Cereal Bar Market Research Report 2024
Cereal Bar Market Global Industry Analysis and Forecast (2024-2032) by Product Type (Breakfast bars, Snacks bars, Health and wellness bars, Energy and nutrition bar, Others), Flavor (Caramel, Banana, Chocolate, Honey, Strawberry, Other), Distribution Channel (Convenience Stores, Supermarkets/Hypermarkets, Specialty Stores, Online Retail Stores, Other) and Region
Cereal Bar Market Synopsis
Cereal Bar Market Size Was Valued at USD 8.47 Billion in 2023 and is Projected to Reach USD 14.59 Billion by 2032, Growing at a CAGR of 6.23% From 2024-2032.
Energy bars, also called cereal bars, are handy snacks made to give a fast pick-me-up of energy. Usually, they have a mix of grains and additional items such as nuts, seeds, dried fruits, and occasionally chocolate or yogurt coatings. These bars are well-liked by athletes and people in search of a convenient and healthy snack that can be eaten on the run or as a fast breakfast substitute.Flapjacks, also known as oat bars or muesli bars, are a type of cereal bar made from oats, butter, and golden syrup. Their reputation is based on their thick and chewy consistency as well as a slight sweetness in taste. Additional ingredients like dried fruits or nuts can be added to flapjacks to improve their flavor and nutritional content.
Granola bars are different types of cereal bars made with oats, honey, or other sweeteners, along with different nuts, seeds, and dried fruits. They are frequently cooked until crunchy and shaped into a bar form. Granola bars are appreciated for their crispy consistency and come in a range of flavors and ingredients, appealing to various palates and dietary needs.Cereal bars have become more popular because of their convenience, nutritional advantages, and versatility. They are often promoted as nutritious snacks, providing a mix of carbs, proteins, and fats. Numerous types of products are enhanced with vitamins and minerals, providing a convenient choice for individuals looking for a fast and nutritious snack or meal substitute.
Cereal bars have advanced beyond being just a basic source of energy to offer a variety of flavors and components designed to accommodate different dietary requirements. They remain a popular choice among snack consumers who seek tasty and nutritionally balanced options while on the move.
Top Active Players:
PepsiCo, Inc. (USA), General Mills Inc. (USA), Kellanova (USA), Mondelēz International Inc. (USA), Mars Inc. (USA), WK Kellogg Co. (USA), Nestle S.A. (Switzerland), Clif Bar & Co. (USA), McKee Foods Corporation (USA), Atkins Nutritionals, Inc. (USA), Kind LLC (USA), Dextro Energy GmbH & Co. KG (Germany), JUNKLESS Foods Inc. (USA), Eat Natural (UK), Otsuka Pharmaceutical (Japan), Quaker Oats Co. (USA), Naturelle Consumer Products Ltd. (India), The Hain Celestial Group, Inc. (USA), Naturell India Pvt. Ltd. (India), Pharmavite (USA), Freedom Nutritional Products Limited (Australia), Jinsa Essentials Inc. (USA), Other Active Players
Cereal Bar Market Trend Analysis
Health and Wellness Trends
- Cereal bars have experienced substantial growth in recent years, largely due to the influence of health and wellness trends. Consumers are looking for snack options that are both tasty and nutritious as they focus more on living healthier lifestyles. Cereal bars have become a favored option because of their convenience, portability, and numerous flavors and formulations to suit various dietary requirements.
- The demand for functional ingredients is a key trend propelling the cereal bars market. Consumers seek bars containing vitamins, minerals, fiber, and protein for long-lasting energy and to assist in health objectives like weight control and muscle repair.
- Manufacturers are meeting the demand for natural and clean-label products by incorporating ingredients such as quinoa, chia seeds, nuts, and dried fruits, which not only improve nutritional content but also appeal to consumers.
- Another important factor is the increase in dietary limitations and choices. Gluten-free, vegan, and organic cereal bars are becoming increasingly popular among consumers who are looking for options that match their dietary requirements and beliefs.
- Furthermore, the convenience aspect is essential in the continued popularity of cereal bars. They act as quick snacks for people with busy schedules, providing a convenient and fulfilling alternative to unhealthy options such as fast food.
Innovation in Flavors, Textures, and Ingredients
- The cereal bar industry has gone through a notable transformation due to advancements in flavors, textures, and ingredients. This shift in consumer preferences towards healthier snack choices that are convenient and delicious is represented by this evolution.
- Flavor innovation presents a critical opportunity. Manufacturers are expanding their selection of flavors to include exotic fruits, spices, and savory options, going beyond the usual choices. This variety appeals to different taste preferences and also lures health-conscious consumers seeking interesting options to sugary treats.
- Exploring new textures is also being considered as a new frontier. Cereal bar manufacturers are incorporating different grains, nuts, and seeds to improve texture and provide more enjoyable eating experiences, ranging from crispy to chewy. These textures not only provide diversity but also enhance perceptions of freshness and quality.
- Innovating ingredients is maybe the most transformative element in this market. Cereal bars are being changed to meet the demand for nutrition and functionality by including natural ingredients, fiber-rich grains, and protein sources like nuts and seeds, as there is a growing focus on these.
- Cereal bar brands must innovate in flavors, textures, and ingredients to stand out in a competitive market, as it is essential rather than optional. Continuously exploring the limits of taste, nutrition, and convenience in cereal bars.
Cereal Bar Market Segment Analysis:
Cereal Bar Market is Segmented based on Product, Flavor, and Distribution Channel.
By Product, Breakfast Bars and Energy & Nutrition segment is expected to dominate the market during the forecast period
- Consumer demand for improving physical performance and mental health is driving the dominant energy and nutrition bars sector in the global market. These bars, made with oats, grains, nuts, and assorted flavors, provide a rapid energy surge. Therefore, consumers often rely on them as a convenient source of energy between meals and as snacks before and after workouts.
- Anticipated growth in the breakfast bars category will be driven by the increasing trend towards ketogenic and vegan eating habits. This tendency is motivating more customers to add breakfast bars to their everyday schedules. Furthermore, the increasing focus on eating habits that promote health is also driving the growth of this market segment.
- The growth of the breakfast bars segment is being driven by new products entering retail shelves. Manufacturers are constantly coming up with new ideas and expanding their products to meet changing consumer tastes. The increase in the range of products is expanding the accessibility and appeal of breakfast bars to a wider range of people.
- The energy and nutrition bars industry is profiting from consumers' growing attention to health and convenience. The popularity of energy and breakfast bars is increasing because they offer fast, healthy choices for hectic schedules and individual dietary requirements.
By Distribution Channel, the Supermarkets/Hypermarkets segment held the largest share of 49.10% in 2023
- The largest portion of the global cereal bar market is dominated by supermarkets and hypermarkets, mainly because they are easily accessible and strategically located. Consumers frequently discover it convenient to purchase goods at these large retail stores because of the wide variety of products and multiple brands all in one place.
- These large retailers reserve designated shelf space for granola bars, frequently in larger, family-sized packages. These specialized segments simplify the process for customers to find and buy their favorite items. To draw in more customers, supermarkets, and hypermarkets often provide enticing discounts and promotions on cereal bars, prompting customers to buy in large quantities and boosting total sales.
- The positioning of cereal bars strategically close to the checkout counters in supermarkets and hypermarkets has a notable impact on impulsive purchasing habits. While customers are waiting to pay, the easy-to-see and easy-to-reach packaged snacks may influence impulse buying choices. This strategic positioning aids in increasing the sales of cereal bars, playing a role in the supermarkets and hypermarkets sector's supremacy in the market.
- Overall, supermarkets and hypermarkets dominate the global cereal bar market due to their convenient locations, dedicated shelf space for granola bars, appealing discounts, and strategic product placement. These elements together improve the shopping experience, promote spontaneous buying, and ultimately boost the sales of cereal bars in these stores.
Cereal Bar Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast Period
- In North America, the market dominates because of numerous crucial factors. Introducing new products is crucial in drawing in customers, providing a range of options that suit various tastes and dietary requirements.
- The growing trend of breakfasts that can be eaten while on the move complements the hectic schedules of North American shoppers, resulting in a strong attraction to convenient and easily transportable choices such as cereal bars. Greater retail availability also contributes to this pattern by making these items more accessible, prompting both intentional and spontaneous purchases.
- The market in North America is mainly controlled by the United States. The demand for fast and convenient meal options is fueled by the busy schedules of American consumers. Moreover, an increasing number of people are becoming more health-conscious, causing them to look for healthier snack choices. This change in consumer habits has increased the need for items like cereal bars that provide both ease and health advantages.
- Consumers are becoming increasingly conscious of the possible health hazards linked to artificial flavors and ingredients, resulting in a preference for certified organic products. The trend among consumers preferring natural options has motivated manufacturers to create and release products with organic ingredients, in response to the desire for healthier choices.
- The North American market is positively impacted by a mix of elements such as new product releases, customer inclination towards ease, and an increasing focus on well-being. The focus on using organic and natural ingredients exemplifies a larger change in consumer views toward healthier and clearer food options.
Active Key Players in the Cereal Bar Market
- PepsiCo, Inc. (USA)
- General Mills Inc. (USA)
- Kellanova (USA)
- Mondelēz International Inc. (USA)
- Mars Inc. (USA)
- WK Kellogg Co. (USA)
- Nestle S.A. (Switzerland)
- Clif Bar & Co. (USA)
- McKee Foods Corporation (USA)
- Atkins Nutritionals, Inc. (USA)
- Kind LLC (USA)
- Dextro Energy GmbH & Co. KG (Germany)
- JUNKLESS Foods Inc. (USA)
- Eat Natural (UK)
- Otsuka Pharmaceutical (Japan)
- Quaker Oats Co. (USA)
- Naturelle Consumer Products Ltd. (India)
- The Hain Celestial Group, Inc. (USA)
- Naturell India Pvt. Ltd. (India)
- Pharmavite (USA)
- Freedom Nutritional Products Limited (Australia)
- Jinsa Essentials Inc. (USA) and Other Active layers
Key Industry Developments in the Cereal Bar Market:
In January 2024, new cereal and snack innovations were introduced to delight Cheerios fans of all ages. Cheerios Veggie Blends, made with ¼ cup of fruit and veggies per serving, combined spinach, carrot, and sweet potato with whole grain oats, offering an unexpectedly nutritious and delicious breakfast or snack option. These new blends provided a tasty way to incorporate more fruits and vegetables into diets, appealing to both children and adults.
In January 2024, Mars China announced a significant step towards sustainable packaging with the launch of its SNICKERS bar with dark chocolate cereal. The new product, introduced as a healthy cereal bar option, offered low-sugar and low-glycemic index (GI) benefits for consumers. Additionally, it featured individual packaging made from mono-PP material, which allowed for easier recycling in designated channels.
|
Cereal Bar Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 8.47 Bn. |
|
Forecast Period 2024-32 CAGR: |
6.23 % |
Market Size in 2032: |
USD 14.59 Bn. |
|
Segments Covered: |
By Product Type |
|
|
|
By Flavor |
|
||
|
By Distribution Channel |
|
||
|
By Region |
|
||
|
Key Market Drivers: |
|
||
|
Key Market Restraints: |
|
||
|
Key Opportunities: |
|
||
|
Companies Covered in the report: |
|
||
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Cereal Bar Market by By Product Type
4.1 Cereal Bar Market Snapshot and Growth Engine
4.2 Cereal Bar Market Overview
4.3 Breakfast bars
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted
Frequently Asked Questions
What would be the forecast period in the Cereal Bar Market research report?
The forecast period in the Cereal Bar Market research report is 2024-2032.
Who are the key players in the Cereal Bar Market?
PepsiCo, Inc. (USA), General Mills Inc. (USA), Kellanova (USA), Mondelēz International Inc. (USA), Mars Inc. (USA), WK Kellogg Co. (USA), Nestle S.A. (Switzerland), Clif Bar & Co. (USA), McKee Foods Corporation (USA), Atkins Nutritionals, Inc. (USA), Kind LLC (USA), Dextro Energy GmbH & Co. KG (Germany), JUNKLESS Foods Inc. (USA), Eat Natural (UK), Otsuka Pharmaceutical (Japan), Quaker Oats Co. (USA), Naturelle Consumer Products Ltd. (India), The Hain Celestial Group, Inc. (USA), Naturell India Pvt. Ltd. (India), Pharmavite (USA), Freedom Nutritional Products Limited (Australia), Jinsa Essentials Inc. (USA), Other Active Players and Other Major Players.
What are the segments of the Cereal Bar Market?
The Cereal Bar Market is segmented into Product Type, Flavor, Distribution Channel, and region. By Product Type, the market is categorized into Breakfast bars, snack bars, Health and wellness bars, Energy and nutrition bars, and Others. By Flavor, the market is categorized into Caramel, Banana, Chocolate, Honey, Strawberry, and Other. By Distribution Channel, the market is categorized into Convenience Stores, Supermarkets/Hypermarkets, Specialty Stores, Online Retail Stores, and others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Cereal Bar Market?
Energy bars, also called cereal bars, are handy snacks made to give a fast pick-me-up of energy. Usually, they have a mix of grains and additional items such as nuts, seeds, dried fruits, and occasionally chocolate or yogurt coatings. These bars are well-liked by athletes and people in search of a convenient and healthy snack that can be eaten on the run or as a fast breakfast substitute. Flapjacks, also known as oat bars or muesli bars, are a type of cereal bar made from oats, butter, and golden syrup. Their reputation is based on their thick and chewy consistency as well as a slight sweetness in taste. Additional ingredients like dried fruits or nuts can be added to flapjacks to improve their flavor and nutritional content.
How big is the Cereal Bar Market?
Cereal Bar Market Size Was Valued at USD 8.47 Billion in 2023 and is Projected to Reach USD 14.59 Billion by 2032, Growing at a CAGR of 6.23% From 2024-2032.
