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The global cereal bars market is driven by the increasing demand for convenient and on-the-go snacks. The rising trend of healthy snacking is fuelling the demand for nutrition bars. Cereal bars are convenient, ready-to-eat foods that supply nutrients to the body and provide a feeling of satiety. Cereal bars are made from grains such as oats, rice, wheat, and rye, and usually have added dried fruits and various flavors. They are consumed as a healthier alternative to other ready-to-eat snacks such as chocolate bars and crisps.
The demand for cereal bars is increasing among fitness enthusiasts as they have higher fiber and protein content. The rising popularity of clean label products is driving the demand for gluten-free, additive-free cereal bars among consumers. The growing trend of consuming plant-based products is primarily responsible for increasing the demand for cereal bars containing plant-based proteins. The development of flavor masking techniques to make nutritious as well as indulgent products, is driving the demand for cereal bars among millennials.
Key Market Driver -
Rising Popularity of Convenient, On-the-go Healthy Snacks
Key Market Restraint -
Availability of Alternate Nutritional Snacks
The rising demand for wholesome, nutritious snacks that can be consumed on-the-go is the major driver for the growth of the global cereal bars market. Vitamins and minerals containing cereal bars are gaining popularity due to the increased awareness of adverse health effects of micronutrient deficiency. The key companies are focused on providing products to meet consumer demands such as extra nutrition, low calorie, fat burning, and weight management. For instance, in December 2019, Huel, the Europian Company, launched cereal bars containing 27 vitamins and minerals, in the United States.
The availability of other nutritional snacks such as dry fruit mix, trail mix, and jerky in the market is expected to act as a major restraint for the growth of the global cereal bars market. The higher cost of equipment such as moulding machine and belt sprinklers used for the processing of cereal bars is expected to hamper the growth of the market.
The key players operating in the global cereal bars market are, Kellogg Company, Nestle S.A., General Mills, Inc., Clif Bar & Company, The Quacker Oats Company, Atkins Nutritionals, Inc., PepsiCo, Inc., McKee Foods, Weetabix Ltd., Naturell India Pvt. Ltd.,
The global cereal bars market is segmented by type, distribution channels, and geography. The snack bars segment is expected to witness strong growth owing to evolving lifestyles. The increasing disposable incomes among consumers and the growing retail sector in developing economies are expected to fuel the growth of the snacks bar segment.
Hypermarkets & supermarkets, among the other distribution channels, are expected to witness prominent growth due to the presentation, availability of wide variety on the shelves, and easy accessibility to consumers in such stores. The discounts offered by hypermarkets and supermarkets are expected to positively affect the sale of cereal bars.
Asia Pacific is expected to witness promising growth of the cereal bar market due to the rising health consciousness and increasing discretionary incomes. The trend of consuming nutritious snacks instead of high carbohydrate and fat-containing snacks in the region is responsible for the growth of the market. The leading manufacturers are focused on expanding their product portfolio in Asian countries to cater to the growing demand for cereal bars across the region. For instance, in December 2018, Nestle launched a new MILO cereal bar to meet the growing demand for ready-to-eat snack bars in Malaysia & the Philippines.
North America is expected to witness strong growth in the market due to the increasing demand for nutritious, on-the-go snacks. According to the survey conducted by U.S Department of Agriculture, the percentage of adults snacking on any given day rose by 30% in past 10 years. The demand for energy cereal bars is increasing among fitness enthusiasts as a source of instant energy. The rising trend of veganism is primarily responsible for the increase in demand for plant-based products in the region. The key producers are focused on innovative product launches to meet the demand for vegan cereal bars. For instance, in July 2018, Clif Bar launched a granola bar made with plant-based protein in the U.S.
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The cereal bar market has reached maturity in Europe. The manufacturers are developing new promotional strategies to increase sales across the region. The growth of the market in Europe is primarily driven by technological advancements in the cereal bar manufacturing process. For instance, in July 2019, Nestle launched its Yes cereal bars that have been packaged using high-speed flow wrap technology. The packaging paper used is recyclable and ensures product quality over the shelf life. The brand’s cereal bars claim to contain no artificial additives and no sugar.
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