Cereal Bar - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Cereal Bar Market is accounted for $11.10 billion in 2018 and is expected to reach $22.75 billion by 2027 growing at a CAGR of 8.3% during the forecast period. While the factors like increasing purchasing power parity and growing use of dried fruit snacks by consumers are driving the growth of the market. However, high production cost of raw materials is restraining the market growth.
A cereal bar is a food product consists of different cereals such as nuts, seeds which are produce by pressing cereals and usually dried fruit as well as berries. They are enclosed and bind with glucose syrup. Many people due to changing life style prefer cereal bars as an alternative to the less-healthy snacks which provide a rapid source of energy. It is also used as an exchange for a meal. These bars consist of fat burning benefits, added nutrition and low content of calorie.
Based on Application, Supermarkets and Hypermarkets segment is likely to have a huge demand due to consumers in this sector are likely to be more selective pertaining to existence of several brands in the market that offer varied cost, quantity, and quality. By geography, Europe is estimated to have a lucrative growth due to increasing force on urban consumers to maintain the work-life balance, is augmenting the need for ready to eat snacks are driving the market in this region.
Some of the key players in Global Cereal Bar market include Yoga Bar, The Hain Celestial Group, Inc., PepsiCo, Inc., NuGo Nutrition, Nestle S.A., McKee Foods Corporation, Mars, Inc., Kind LLC, Kellogg Company, General Mills, Inc., Freedom Foods Group Limited, and Clif Bar & Company.
• Peanut Butter
• Energy Nutrition Bars
• Granola/Muesli Bars
• Snack Bars
• Supermarkets and Hypermarkets
• Specialty Stores
• Online Stores
• Department Stores
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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