Cereal Bar Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Cereal Bar Market: Snapshot
A cereal bar is a pre-packaged food product made of cereals that is similar to a chocolate bar in shape.
Cereal bars are becoming popular as a snack option and their availability in different types with a mixture of nuts, seeds, and dried fruits is fueling their uptake.
With changing lifestyles in developing countries, food habits, particularly of those residing in urban areas, have evolved. Cereal bars have become a popular breakfast option with a large percentage of the population living in urban regions. This has helped fuel the growth of the cereal bar market in emerging economies.
Cereal bars are also favored by fitness enthusiasts and gym visitors. They are looked upon as a healthy food option, thereby resulting in an uptake in their demand. Cereal bars rich in calcium are also gaining popularity, especially with women as it helps avert osteoporosis, thereby opening new avenues for the growth of the overall cereal bar market.
Cereal bars are available with colorful packaging which also helps in propelling their popularity, with students and other professionals. Cereal bars help in weight reduction and aid those who consume them to monitor their daily calorie intake.
North America is the largest consumer of cereal bars among all the key regions of the cereal bar market. The large availability of packaged food products as well as the practice of consuming on-the-go food items are the factors behind North America becoming a leader in the cereal bar market. In addition, there is a large population in this region looking to consume healthy snacks, which is propelling the cereal bar demand.
There is also significant demand for cereal bars in Europe because of greater purchasing power among consumers, leading to higher consumption. The swelling product line of food companies in the developing countries of Asia Pacific is also increasing the competition in the cereal bar market.
Cereal Bar Market: Overview
Apart from regular cereal bars used as a snack bar or mini meal, calcium fortified cereal bars are witnessing increasing uptake. Calcium fortified cereal bars are increasingly being consumed by women between 18 and 50 years to prevent osteoporosis. This marks a new trend for the growth of cereal bar market.
Cereal bars are available in various types as combination of cereals, nuts, seeds, honey, and dried fruits. They are now also available in sugar and non-sugar varieties.
An upcoming research report on cereal bar market provides detailed insights into growth trends and opportunities likely to come to the fore in the said market over the 2018-2028 forecast period. Drivers and challenges pertinent to the cereal bar market are examined to provide reliable analysis of the cereal bar market over the forecast period.
Cereal Bar Market: Competitive Landscape
The global cereal bar market features a fragmented vendor landscape due to presence of a large number of players in this space. However, large established food companies, namely Hain Celestial Group, General Mills, and Nestle S.A. hold a share in the overall cereal bar market. Established product lines of cereal bars, as well product innovations for healthy options are key behind growth of these companies in the cereal bar market.
On the other hand, expanding product line of food companies in emerging economies of Asia Pacific is intensifying competition in the overall cereal bar market. Small regional product manufacturers are vying to foray into packaged snack segment, including cereal bars.
Small food companies gain advantage of low price point and expanding distribution channels, especially online sales.
Cereal Bar Market: Key Trends
Changing lifestyles in emerging economies due to economic growth has influenced food habits of individuals in these countries. In urban areas, increasing purchasing power and busy everyday routine, wherein mostly both partners are working has led to rapid adoption of packaged foods, including cereal bars. Cereal bars are increasingly used as a convenient breakfast option or mid-morning snack among busy urbanites.
With growing popularity of cereal bars as a preferred snack option, availability in few types with combination of nuts, seeds, and dried fruit is increasing their uptake. Cereal bars are now deemed as a healthy snack option, thereby leading to an uptick in their demand. This fuels growth of cereal bar market in emerging economies.
Apart from this, availability in attractive and convenient packaging makes cereal bars preferred as an on-the-go food, especially among students and office goers.
Cereal bars are consumed for weight loss and fitness goals as well. Individuals seeking weight loss consume cereal bars to keep a check on everyday calorie intake. Gym goers and fitness enthusiasts also consume cereal bars for nutrition packed in a bar, which are easy to carry and easy to consume. Such food habits favor growth of cereal bar market.
Cereal Bar Market: Regional Outlook
North America currently is the leading consumer of cereal bars among other key regions in the cereal bar market. Excess availability of packaged snacks along with practices of consumption of on-the-go food makes North America the leading consumer of cereal bars.
Besides this, discerning consumers striving to adopt healthy snack options is fuelling demand for cereal bars in the region.
Europe also exhibits substantial demand for cereal bars due to high purchasing power of individuals, which makes way for wide consumption of convenient packaged food.
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