Cereal Bars Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cereal Bars Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cereal bars market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.

Cereal bars are formulated using corn starch, biscuits, oats, rice, milk and edible adhesives and are fortified with vitamins, minerals and other essential nutrients. These bars are rich in iron, starch, fiber, proteins, antioxidants, phosphorus and potassium. They assist in increasing energy, managing weight, improving muscle mass, enhancing digestive health and strengthening bones. Moreover, they can help in managing diabetes, lowering blood sugar and improving blood pressure (BP), as well as curbing the appetite and providing additional energy during endurance activities.

Due to hectic lifestyles and changing dietary patterns, there is a rise in the demand for healthy and ready-to-eat (RTE) food products, such as cereal bars, that assist in maintaining a balanced diet. Moreover, the growing participation of individuals in physical activities is contributing to the market growth. Furthermore, the rising health consciousness is escalating the demand for variants that are made using natural ingredients, such as coconuts, peas, almonds and creamy cocoa butter, and sunflower and chia seeds. The key players are also offering gluten and sugar-free, and non-genetically modified (non-GMO) variants with no additives and preservatives. Besides this, the coronavirus disease (COVID-19) outbreak has increased the consumption of nutritious food products among individuals, such as cereal bars. However, the market players are unable to meet the escalating demand on account of lockdowns imposed by governments of several countries and disrupted supply chains. The market is anticipated to revive once lockdown restrictions are relaxed.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cereal bars market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, flavor and distribution channel.

Breakup by Product:

Snacks Bar
Energy and Nutrition Bar
Others

Breakup by Flavor:

Caramel
Banana
Chocolate
Honey
Strawberry
Peanut Butter
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Food Specialty Stores
Convenience Stores
Online Stores
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Atkins Nutritionals Inc. (Simply Good Foods Co.), Clif Bar & Company, Eat Natural, General Mills Inc., Kellogg Company, Kind LLC, McKee Foods Corporation, Nestlé S.A, Otsuka Pharmaceutical and Quaker Oats Co. (PepsiCo).

Key Questions Answered in This Report

1. What was the size of the global cereal bars market in 2022?
2. What is the expected growth rate of the global cereal bars market during 2023-2028?
3. What has been the impact of COVID-19 on the global cereal bars market?
4. What are the key factors driving the global cereal bars market?
5. What is the breakup of the global cereal bars market based on the product?
6. What is the breakup of the global cereal bars market based on the distribution channel?
7. What are the key regions in the global cereal bars market?
8. Who are the key players/companies in the global cereal bars market?