Cereal Bars Market Outlook
According to a new report by Expert Market Research titled, “Global Cereal Bars Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global cereal bars market is projected to grow at a CAGR of 4% between 2024 and 2032. Aided by the increasing consumer inclination towards convenient and healthier snacking options, combined with the rising demand for on-the-go nutrition, the market is expected to grow significantly by 2032s.
Cereal bars, known for their portability and nutritional richness, consist of various cereals like oats, wheat, rice, and corn, bound together with syrup. They often come fortified with vitamins, minerals, and other essential nutrients, making them a popular choice among the urban populace. Variants containing nuts, fruits, and chocolate are also available, catering to diverse palates and nutritional needs.
One of the pivotal drivers for the global cereal bars market growth is the increasingly hectic lifestyle of the global population. The blurring lines between meals and the amplified need for quick energy sources have positioned cereal bars as a go-to solution. Moreover, the global shift towards health-consciousness has made consumers more discerning about their snack choices. They are actively seeking products that offer both nutrition and taste without compromising on convenience.
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Moreover, the rising fitness trend and growing number of fitness enthusiasts worldwide have bolstered the cereal bar market expansion. Many athletes, gym-goers, and even casual exercisers rely on cereal bars as a pre or post-workout snack, valuing their protein content and quick energy release. Brands have recognised this trend, producing variants specifically aimed at the fitness segment, fortified with proteins and low in sugars.
The versatile nature of cereal bars, allowing for inclusion of various ingredients, has made them appealing across age groups. Innovations in flavours, with combinations of fruits, nuts, and even gourmet ingredients like matcha and quinoa, have kept the consumer interest alive and have expanded the consumption base.
From an industrial perspective, the application of cereal bars isn’t limited to just the food and beverage sector. The health and wellness industry, especially diet and weight management programs, have incorporated cereal bars as meal replacements. Their controlled calorie content, coupled with essential nutrients, ensures consumers get the required nutrition without excess calorie intake.
The growing vegan movement and the increasing number of consumers with dietary restrictions, such as gluten intolerance, have shaped the cereal bars market outlook. The emergence of gluten-free, vegan, or organic cereal bars in the market indicates the industry’s adaptability and its readiness to cater to niche yet growing segments.
Furthermore, sustainable sourcing and packaging have come into the spotlight. With environmental concerns on the rise, brands that adopt eco-friendly packaging, prioritise sustainable ingredient sourcing, and uphold ethical production practices are gaining prominence in the market.
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Cereal Bars Market Segmentation
The market can be divided based on product, distribution channel, and region.
Market Breakup by Product
- Granola/Muesli Bars
- Others
Market Breakup by Distribution Channel
- Convenience Stores
- Supermarkets/Hypermarkets
- Speciality Stores
- Online Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cereal bars market. Some of the major players explored in the report by Expert Market Research are as follows:
- PepsiCo, Inc.
- Kellogg Company
- Freedom Foods Group Limited
- Kind LLC
- Clif Bar & Company
- General Mills, Inc.
- Sproutlife Foods Pvt. Ltd. (Yoga Bar)
- Others
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