Global Cereal Bar Market - Growth, Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 164 | Published By - Mordor Intelligence

Report Highlights

Market Insights

The global cereal bar market is expected to grow at a CAGR of 3.9% during the forecast period to reach a market value of USD 12.35 billion by 2021.Cereal bars are considered healthy alternatives to other snacks, as they contain high protein and fiber content. The increasing popularity of cereal bars among all age groups supports the growth of this market. Kellogg, a prominent vendor of cereal bars, holds one-third of the global market share.

Market Dynamics

As cereal bars contain nutrients like proteins and fiber, the rise in health consciousness among the consumers supports the growth of this market. The increasing popularity of cereal bars, especially among sportsmen, drives the market demand; these bars aid in appetite suppression and weight management, which are crucial to athletes. However, product substitutes pose a major threat to the market. Health concerns, related to sugar content in cereal bars and related conditions such as obesity, pose a threat to the market. Hence, vendors have introduced sugar-free cereal bars, which are regarded as healthier alternatives. Urbanization and increase in disposable income also support the growth of this market.

Market Segmentation

The global cereal bar market has been segmented by type into snack bars, nutrition bars, and others. The snack bars segment dominated the global market with more than 70% of the market share in 2015. Regarding ingredients, the market is segmented into standard and sugar-free cereal bars; wherein, standard cereal bars segment dominates the global market.

The global cereal bar market is further segmented by the distribution channel into super markets/hyper markets, convenience stores, specialty food stores, online retailers, and others. With a share of more than 50%, the super markets/hyper markets segment has the highest number of sales.

Regional Analysis

The global cereal bars market has been geographically segmented into North America, Europe, South America, Africa and Asia-Pacific. The market is expected to grow rapidly in the Asia-Pacific region, with India and China holding the largest market share. The increasing middle class population, coupled with a rise in health consciousness among the people, drives the growth of the cereal bars market in the region. In North America, the U.S holds the largest market share, supported by the introduction of sugar-free cereal bars.  

Competitive Environment

The global market for cereal bars is dominated by Kellogg, Nestle and General Mills, wherein, Kellogg alone accounts for one-third of the global sale. A lot of capital is being invested by vendors in research and development to remain competitive in the market, with vendors competing for innovation, pricing, and distribution.

Some of the major players in the market include:

Atkins Nutritionals

Cliff Bar

General Mills

Kellogg

Nestle

Quaker Oats

Key Deliverables in the Study

Market analysis for the global cereal bar market, with region specific assessments and competition analysis on a global and regional scale.

Market definition along with the identification of key drivers and restraints.

Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.

Extensively researched competitive landscape section with profiles of major companies, along with their market share.

Identification and analysis of the macro and micro factors at both global and regional level.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped

 

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