Cereal Bars Market Prophesied to Grow at a Faster Pace by 2021

iCrowd Newswire
15 Sep 2021, 00:33 GMT+10

A cereal bar is made up of nuts, oats, sugar, dry fruits, flour, honey, wheat, corn, and puffed rice. Cereal bars have always been perceived as on-the-go breakfast snack items that are healthier alternatives of chocolate and other snacks. Cereal bars are high in fiber and protein and low in carbohydrates, vitamins, minerals, sodium, and antioxidants. They come in various flavors such as chocolate, peanut butter, banana, caramel, banana, honey, and strawberry.

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Generally, people consume cereal bars as snacks between meals and this trend is gaining popularity among all age groups. This trend would continue to boost the cereal bars market during the forecast period. Cereal bars are convenient and inexpensive sources of nutrition, which help build a billion dollar global industry. The global cereal bars market is segmented into three categories: energy nutrition bars, snack bars, and other cereal bars.

Changing lifestyle, rising number of health-conscious individuals, along with increasing disposable income are further fueling the growth of the global cereal bars market. Nowadays, people are more concerned about the nutritional value of the food they eat and cereal bars make for the perfect snack items for people who want healthy, ready-to-eat food. Cereal bars are generally sold through grocery wholesalers, retail stores, and food service providers. Growth in the total number of stores helps in the growth of the global cereal bars market.

Global brands such as Kellogg's, Nestlé, and Quaker Oats offer very innovative cereal bars in the market with the emphasis being on latest innovations in their products and quality. Kellogg's alone holds one-third of the market share of the global cereal bars market. Due to the growing emphasis on the benefits of a healthy diet, many cereal bar manufacturers are producing specialty products. Growing investments in research and development for new products is furthering the cause of this market.

Asia Pacific is one of the most prominent markets for cereal bars. Growing economies and increasing household income are some of the key factors triggering the growth of the cereal bars market in Asia Pacific. This region is expected to be the fastest growing market for cereal bars during the forecast period. China and India are the two major countries in Asia pacific which hold the highest shares in the cereal bars market. The increasing middle-class population prefers consuming cereal bars often and this is expected to have a positive impact on the demand for cereal bars in these countries. The growing population of health-conscious individuals is also propelling this market in Asia Pacific. In North America, the U.S. holds the largest market share of this market. The global cereal bars market is expected to witness a single digit growth rate during the forecast period.

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Major companies operating in the global cereal bars market are –