Global Cereal Bar Market Size, Share & Trends Analysis Report By Distribution Channel, By Product Type (Snacks Bar, Energy & Nutrition Bars, and Others), By Regional Outlook and Forecast, 2023 - 2030

Global Cereal Bar Market Size, Share & Trends Analysis Report By Distribution Channel, By Product Type (Snacks Bar, Energy & Nutrition Bars, and Others), By Regional Outlook and Forecast, 2023 - 2030

The Global Cereal Bar Market size is expected to reach $21.1 billion by 2030, rising at a market growth of 7.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 3019.2 million units, experiencing a growth of 7.3% (2019-2022).

E-commerce platforms offer consumers the convenience of shopping for it from the comfort of their homes. Therefore, online segment acquired 24.6% revenue share in 2022.This convenience feature is especially attractive to individuals with hectic schedules who may lack the opportunity to visit brick-and-mortar establishments. Online retailing allows established brands and smaller, niche producers to showcase their bars. Global B2C ecommerce revenue is anticipated to increase at a consistent 14.4% rate to reach $5.5 trillion by 2027.

Cereal bars often contain ingredients known for their nutritional benefits. Whole grains provide fiber, nuts and seeds offer healthy fats and protein; dried fruits contribute essential vitamins and minerals. Brands often emphasize these nutritional elements in marketing to position themselves as a health-conscious choice. Health-conscious consumers are increasingly scrutinizing the ingredient lists of products.

Additionally, Manufacturers often draw inspiration from various cultures and regional cuisines to create unique flavor profiles. This approach allows them to tap into the popularity of specific taste experiences and broaden their appeal across diverse consumer demographics. Hence, these aspects will lead to enhanced demand for this.

However, Energy bars often target similar consumer segments seeking convenient and nutritious on-the-go snacks. These bars typically emphasize providing a quick energy boost, and consumers may choose them over traditional bars depending on their specific needs and preferences. Granola bars share similarities with it regarding ingredients like grains, nuts, and fruits. However, granola bars often have a different texture and may be perceived as healthier due to their association with whole grains and natural sweeteners. This can impact on the market share of it.

Driving and Restraining Factors

Drivers

• Growing recognition of the value of maintaining healthful lifestyle
• Rising diversification of flavors and ingredients
• Increasing growth trajectory of e-commerce platforms

Restraints

• Rising competition from alternative products
• Concerns related to fluctuating raw material prices

Opportunities

• Rising sustainability and ethical practices
• Increase in specialized and functional bars.

Challenges

• Stringent regulations related to food labeling, health claims, and nutritional content.
• Rapidly changing consumer taste and preferences

By Distribution Analysis

On the basis of distribution channel, the market is divided into hypermarket & supermarket, food specialty stores, convenience stores, online, and others. In 2022, the food specialty stores segment captured 20.3% revenue share in the market. Food specialty stores are known for curating diverse products, emphasizing uniqueness and quality. Cereal bars, with their wide variety of flavors, textures, and nutritional profiles, align well with the concept of specialty stores that prioritize offering distinctive and innovative food items. Thus, the segment will grow rapidly in the upcoming years.

By Product Analysis

Based on product type, the market is segmented into snacks bars, energy & nutrition bars, and others. The snacks bar segment held 46.1% revenue share in the market in 2022. Consumers are increasingly seeking snacks that satisfy their hunger and provide nutritional benefits. Snack bars are formulated to be nutrient-dense, often containing a mix of whole grains, nuts, seeds, and dried fruits, catering to health-conscious individuals looking for convenient and wholesome options. These factors will boost the demand in the segment.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment acquired 27.9% revenue share in the market. The snacking culture in North America, characterized by a preference for convenient and portable snacks, has contributed to the growth of this. Busy lifestyles and a need for on-the-go options make it appealing.

Recent Strategies Deployed in the Market

2024-Jan: Mars, Inc. introduced the "SNICKERS" bar with dark chocolate cereal. The product not only provides consumers with a low-sugar and low-glycemic index (GI) choice but also showcases individual packaging constructed from a mono-PP material. This feature allows for easier recycling within specified channels.

2023-Jul: Mars, Inc. took over Kevin's Natural Foods, a US-based food and beverage company. Through this acquisition, Mars, Inc. would enhance its product portfolio and market presence.

2023-May: General Mills Inc. came into partnership with Reliance Consumer Products Ltd, an Indian consumer goods company. Through this partnership, General Mills Inc. would provide its services to Reliance Consumer Products Ltd to enhance its product portfolio.

2023-Mar: Nestle S.A. introduced "KitKat cereal". This new cereal provides a delightful KitKat flavor and has been created to meet the preferences of consumers seeking an occasional, indulgent breakfast choice that can be enjoyed as part of a balanced diet.

2022-Jun: Kellogg Company came into partnership with Hershey India Private Limited, a manufacturing company. Through this partnership, Kellogg Company would enhance its business portfolio in the Indian market.

2021-Dec: The Hain Celestial Group, Inc. took over ParmCrisps, a US-based food and beverage manufacturing company, and Thinsters®, a consumer goods company. Through this acquisition, The Hain Celestial Group, Inc. would enhance its presence in the snacking sector and mark a significant move toward establishing Hain as a high growth, globally recognized healthy food company.

List of Key Companies Profiled

• General Mills Inc.
• Naturelle Consumer Products Ltd.
• Mars, Inc. (Kind LLC)
• Nestle S.A
• The Hain Celestial Group, Inc.
• Kellogg Company
• Clif Bar & Company
• PepsiCo, Inc.
• The Simply Good Foods Company (Atkins Nutritionals, Inc.)
• McKee Foods Corporation

Global Cereal Bar Market Report Segmentation

By Distribution Channel (Volume, Million Units, USD Billion, 2019-2030)

• Hypermarket & Supermarket
• Food Specialty Stores
• Online
• Convenience Stores & Others

By Product Type (Volume, Million Units, USD Billion, 2019-2030)

• Snacks Bar
• Energy & Nutrition Bars
• Others

By Geography (Volume, Million Units, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA