“Global Cereal Bar Market to reach a market value of USD 21.1 Billion by 2030 growing at a CAGR of 7.7%”
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 1,683.2 million units, experiencing a growth of 6.6% (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 the market share of it.
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.
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.
Free Valuable Insights: Global Cereal Bar Market size to reach USD 21.1 Billion by 2030
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 11.7 Billion |
| Market size forecast in 2030 | USD 21.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.7% from 2023 to 2030 |
| Number of Pages | 275 |
| Number of Table | 530 |
| Quantitative Data | Volume in Million Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | 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 |
By Distribution Channel (Volume, Million Units, USD Billion, 2019-2030)
By Product Type (Volume, Million Units, USD Billion, 2019-2030)
By Geography (Volume, Million Units, USD Billion, 2019-2030)
This Market size is expected to reach $21.1 billion by 2030.
Growing recognition of the value of maintaining healthful lifestyle are driving the Market in coming years, however, Rising competition from alternative products restraints the growth of the Market.
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
In the year 2022, the market attained a volume of 1,683.2 million units, experiencing a growth of 6.6% (2019-2022).
The Hypermarket & Supermarket segment is leading the Market, by Distribution Channel in 2022, achieving a market value of $7.9 billion by 2030.
The Asia Pacific region dominated the Market, by region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $7.6 billion by 2030.
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