According to a new report, published by KBV research, 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).
The Hypermarket & Supermarket segment is leading the Global Cereal Bar Market, by Distribution Channel in 2022, achieving a market value of $7.9 billion by 2030. Hypermarkets and supermarkets typically have expansive shelf space, allowing for displaying a diverse range of cereal bar products. This variety caters to consumer preferences, including flavors, nutritional profiles, and dietary requirements. Hypermarkets and supermarkets serve as one-stop destinations for consumers looking to fulfill their grocery needs. Cereal bars, being convenient snacks, are often part of the shopping basket, benefiting from these stores' overall convenience. Thus, these factors can lead to increased growth in the segment.
The Energy & Nutrition Bars segment is registering a CAGR of 7.9% during (2023 - 2030). The surge in fitness and sports activities has increased demand for products that provide quick and sustained energy. Energy bars, intended to provide pre- and post-exercise nutrition support, have gained notoriety among athletes and fitness devotees. The fast-paced lifestyles of modern consumers have increased the demand for convenient, on-the-go snack options. Energy and nutrition bars offer a portable and easy-to-consume solution for individuals seeking a quick energy boost or a satiating snack. Thus, these factors will lead to increased demand in the segment.
Full Report: https://www.kbvresearch.com/cereal-bar-market/
The Asia Pacific region dominated the Global Cereal Bar Market, by region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7.6 billion by 2030. The Europe region is experiencing a CAGR of 7.3% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 7.5% during (2023 - 2030).
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)
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