"Market Intelligence that Adds Flavour to Your Success"

Cereal Bars Market Size, Share & Industry Analysis, By Product Type (Breakfast Bars and Energy & Nutrition Bars), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, and Others), and Regional Forecast, 2024– 2032

Region : Global | Format: PDF | Report ID: FBI102260

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global cereal bars market size was valued at USD 12.89 billion in 2023 and is projected to grow from USD 13.43 billion in 2024 to USD 23.13 billion by 2032, exhibiting a CAGR of 7.03% during the forecast period.


Cereal bars, commonly known as muesli bars or granola bars, are prepared from cereal and other ingredients. The product is a convenient and proportioned food that provides instant energy to the users. The bars are commonly consumed as a substitute for traditional breakfast and meals. The growing consumer concern for better health, convenient packaging, easy accessibility, and product awareness are a few factors driving the global market growth. Furthermore, industry players' continuous involvement in R&D activities, new product launches, geographical expansion, strengthening of e-commerce presence, and spending on marketing operations are also expected to contribute to the product demand during the forecast period globally.


The product is a common option for on-the-go snacking among consumers, with multiple benefits such as convenience, health, and indulgence. However, the sudden changes in the supply chain and closure of distribution channels, including supermarkets, hypermarkets, and specialty stores, have negatively affected product sales during the COVID-19 period.


Furthermore, the COVID-19 pandemic has continued for more than a couple of months. Moreover, footfall in the shops near the picnic places, gardens, and gyms fell precipitously, which affected the cereal bar sales. Therefore, the pandemic had a negative impact on the global market growth.


Cereal Bars Market Trends


Increasing New Product Launches with Special Nutritional Claims to Augment the Market Growth


Millennials and Gen-Z consumers are increasingly opting for bars with benefits, such as nutritional requirement fulfillment, energy needs fulfilment, weight management support, and sleep support. A portion of the consumers are also purchasing protein cereal bars as a way to get essential nutrition and as a supportive snack to meet home exercise routine needs. Furthermore, the growing plant-based and ketogenic dietary trends bolster the new cereal bar development activities in the industry. This factor is another factor positively affecting the market growth. For instance, in June 2021, Munk-Pack, one of the emerging low-sugar bars manufacturing companies, expanded its keto granola bars in two different flavors, such as coconut cocoa chip and blueberry almond vanilla offerings in more than 1,000 Walmart locations across the U.S. market.


Request a Free sample to learn more about this report.


Cereal Bars Market Growth Factors


Increasing Number of New Entrants in the Industry to Drive the Market Growth


In many countries, including the U.S, China, Brazil, and Vietnam, on-the-go snacking has become more popular among young consumers over traditional meals. The growth of the “snackification” trend has been changing the scenario of grocery and supermarket shelves worldwide. The continuously increasing demand for snack category products such as cereal bars, breakfast cereals, cakes, and pastries is attracting players to enter the industry. Thus, new entrants are seeking financial support from investors to expand their business activities. For instance, in June 2022, Munk Pack, a brand of low-sugar snack bars, raised USD 5 million from its financing round to improve its distribution operation, growth, expansion of the team, and product innovation activities.


Growing Focus on Innovation and R&D Activities to Propel the Product Demand


Since consumers are more inclined toward their better health, nutrition-rich, better-for-you snack products have gained higher importance. Furthermore, a larger base of consumers prefers nutrition and simple ingredients in snack products such as breakfast bars and granola bars. This factor encourages manufacturers to develop innovative, nutrition-rich, and fortified products to meet the rising consumer demand for healthier RTE snack products, including cereal bars. Thus, industry key players emphasize product innovation and R&D activities to push the demand for products such as granola bars, cereal bars and protein cereal bars to the next heights. For instance, in January 2023, Kellogg's Company, a global cereals and bars manufacturing company, received approval from the FDA to increase the fortification level of Vitamin D3 in the breakfast cereals and grain-based bars category. 


RESTRAINING FACTORS


High Sugar Content and Expensive Prices May Restrain the Market Growth


A large number of consumers prefer granola bars because of convenience, health benefits, flavorful indulgence, and versatility. These bars are a good source of protein and fibre. However, they have high-added sugar, carbs, and artificial ingredients. Moreover, a regular granola bar contains up to 15 grams of sugar per serving. The excess added sugar consumption can lead to several health-associated risks, such as diabetes, obesity, and heart disease.


Furthermore, most of the nutritional bars or granola bars cost between USD 2 to 3 per piece. In addition, there are many alternative products available in the market costing less than the bar’s price. It is an important factor that influences the change in buying decisions, thereby hampering the market growth.


Cereal Bars Market Segmentation Analysis


By Product Type Analysis


Quick Energy Shot Offered by Energy & Nutrition Bars to Propel the Segment Growth


Based on product type, the market is segmented into breakfast bars and energy & nutrition bars.


The energy & nutrition bars segment holds the largest share in the global market. Consumers are purchasing energy bars to improve their physical performance and mental health. These bars are made from oats, grains, nuts, and other flavored ingredients, which provide a quick shot of energy to the consumers. Thus, consumers often use the product as an energy refiller between meals and pre & post-workout meals.


The breakfast bars segment is anticipated to continue to grow at a high rate during the forecast period due to the increasing popularity of ketogenic and vegan dieting practices among users globally. Furthermore, rising instances of introducing new products to retail shelves are also pushing the segment growth to new heights.


By Distribution Channel Analysis


To know how our report can help streamline your business, Speak to Analyst


Impulsive Buying Behavior of Consumers to Bolster the Supermarkets/Hypermarkets Segment Growth


Based on distribution channel, the market is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and others.


The supermarkets/hypermarkets segment holds the largest share owing to their easy accessibility and proximity. In addition, there is a dedicated shelf for granola bars in family packages paired with attractive discounts and offers. Furthermore, these retailers place the bars near the billing counter, which triggers the impulsive buying behavior of the product among consumers.


The online retail stores segment is expected to continue to grow with higher CAGR during the forecast period owing to their robust convenience, exotic offers, and enhanced shopping experience. The increased digital literacy rates among individuals across developing nations such as India and Brazil are expected to contribute further to the growth of the segment in the upcoming years.


REGIONAL INSIGHTS


The market is analyzed across North America, Europe, the Asia Pacific, South America and the Middle East & Africa.


North America Cereal Bars Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


North America is anticipated to hold the largest share in the global market during the forecast period. The growth in users’ interest in immunity-boosting and stress-relief bars, along with the changing lifestyle of young consumers seeking keto-friendly, meal-replacement, and intermittent fasting products, is contributing to the creation of traction for granola bars. Furthermore, refrigerated bars such as energy bars, granola bars, and fruit & nut bars are anticipated to witness demand in the upcoming years for addressing consumers' preference for natural, fresh, clean labels, and premium taste.


To know how our report can help streamline your business, Speak to Analyst


Consumers in the European market are seeking novel snack products that meet their dietary requirements, such as vegan while delivering the required nutrition. In addition, youth are opting for quick, nutritious, on-the-go, and ready-to-eat snack products, including granola bars, as they are ideal choices for convenient and healthy food, which is propelling market growth in the region. Furthermore, the rising popularity of free-from, natural, plant-based, and better-for-you products is increasing the product demand.


In the Asia Pacific, Japan and Australia are leading and attractive markets for both breakfast and energy bars. Granola bars with healthy nutrients such as protein, vitamins, and fibres are grabbing more attention among health-conscious consumers. Furthermore, the increasing number of new entrants to the industry with innovative product lines is another important factor driving the granola bars market in the Asia Pacific, including China, India, and South Korea.


The rising purchasing capacity paired with consumers' expenditure on outside food consumption is positively supporting the growth of granola bars sales in South America. Furthermore, evolving consumption patterns and diets among consumers are further boosting the market growth.


The Middle East & Africa market is observing a gradual rise in demand for granola bars, owing to growing urbanization and exposure to Western food culture. Furthermore, industry players focus on expanding their geographical presence in the region to propel the market growth to the next height in the upcoming years.


List of Key Companies in Cereal Bars Market


Companies Focus on Product Development to Gain a Competitive Edge


Various regional and international players are consistently working on formulating advanced strategies to gain a competitive advantage. Many companies are using new product launching strategies to witness market growth. Furthermore, they are expanding their presence on e-commerce platforms and incorporating digital tools to expand their share in the global market space.


List of Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • March 2023: Barrys India, an Indian company, introduced new varieties of energy bars with multi-grains, nuts, and other ingredients in three varieties such as Choco Nut Delight, Signature Crunch, and Fruits, Nuts & Seeds.

  • January 2023: General Mills Inc., a global food and beverage company, launched three new products to expand its cereal bar category in three various flavors: Cinnamon Toast Crunch Cereal bars, Lucky Charms, and Peach Cheerios.

  • February 2022: McKee Foods Corp., a snacks bar manufacturing company, expanded its Sunbelt Bakery brand by launching Panada chewy granola bars. The product contains whole grains, white chocolate chips, and corn syrup and is available in a family pack of 8 bars.

  • January 2022: Magic Spoon, a cereal manufacturing company, entered the cereal bar business category by introducing a limited-edition cereal bar in two flavors: Cookies & cream and Cocoa peanut butter.

  • January 2021: Kellogg’s Company, a global cereal and snacks company, introduced keto-friendly snack bars in two different flavors: Chocolate Almond Fudge and Peanut Butter Fudge. The product is available on retail shelves across the U.S. market.


REPORT COVERAGE


An Infographic Representation of Cereal Bars Market

To get information on various segments, share your queries with us



The report provides a detailed analysis of the global market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides this, it offers insights into the global cereal bars market share, trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 7.03% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation



By Product Type



  • Breakfast Bars

  • Energy & Nutrition Bars



By Distribution Channel



  • Supermarkets/Hypermarkets

  • Specialty Stores

  • Convenience Stores

  • Online Retail Stores

  • Others



By Geography



  • North America (By Product Type, By Distribution Channel, and By Country)


    • U.S. (By Distribution Channel)

    • Canada (By Distribution Channel)

    • Mexico (By Distribution Channel)


  • Europe (By Product Type, By Distribution Channel, and By Country)


    • Germany (By Distribution Channel)

    • France (By Distribution Channel)

    • Spain (By Distribution Channel)

    • Italy (By Distribution Channel)

    • U.K. (By Distribution Channel)

    • Rest of Europe (By Distribution Channel)


  • Asia Pacific (By Product Type, By Distribution Channel, and By Country)


    • China (By Distribution Channel)

    • India (By Distribution Channel)

    • Japan (By Distribution Channel)

    • Australia (By Distribution Channel)

    • Rest of the Asia Pacific (By Distribution Channel)


  • South America (By Product Type, By Distribution Channel, and By Country)


    • Brazil (By Distribution Channel)

    • Argentina (By Distribution Channel)

    • Rest of South America (By Distribution Channel)


  • Middle East & Africa (By Product Type, By Distribution Channel, and By Country)


    • Saudi Arabia (By Distribution Channel)

    • South Africa (By Distribution Channel)

    • Rest of the Middle East & Africa (By Distribution Channel)







Frequently Asked Questions

As per the Fortune Business Insights study, the global market size was USD 12.89 billion in 2023.

The market is likely to grow at a CAGR of 7.03% over the forecast period (2024-2032).

By product type, the energy & nutrition bars segment leads the market.

The product with reduced sugar and enhanced with nutrient ingredients is the key trend in the global space.

The growing demand for ready-to-eat snacks due to hectic lifestyles paired with increasing fitness concerns among youth.

Some of the top players in the market are General Mills Inc., WK Kellogg Co., Nestle S.A., PepsiCo Inc., and Clif Bar & Co.

North America dominated the market in terms of cereal bars consumption in 2023.

The abundant availability of substitute products for RTE breakfast and nutrition intake.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Feb, 2024
  • 2023
  • 2019-2022
  • 196

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Food & Beverages Clients

Ferrero
Kpmg
Bunge
Fuji film
Samyang

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X