Know More About “Cereal bars Market 2019-2025” Growth Worldwide…..|Grand View Research, Inc.
The global cereal
bars market size is expected to reach USD 17.66 billion by 2025, according to a new report by Grand View
Research, Inc. It is projected to expand at a CAGR of 6.1% during the forecast period. Cereal bars are widely
being consumed in developed economies. The growth in granola and nutrition bar
product segment is expected to further drive the market. Rising awareness about
the consumption of cereal bar is also likely to fuel the growth.
Growing emphasis on quality products
in developed economies such as Europe and North America owing to the rising
purchasing power of the consumers is expected to drive the market over the
forecast period. Rising competition among manufacturers and an emphasis on
product differentiation and innovation has led to the development of
differently priced cereal bar products.
The need for the product to comply
with stringent guidelines and the ability to meet the necessary rating
criteria, in terms of regulations, depending upon the product is likely to pose
a challenge to market growth over the next seven years. In addition, there is a
rising pressure from consumers in terms of the quality cereal bars, which has
led to a rise in product cost. The cost is mainly affected by the raw materials
in use and the manufacturer has to bear the additional raw material prices.
Some of
the key companies present in the market are Hain Celestial Group, Nestle S.A., and General Mills. Other prominent
vendors include Atkins Nutritionals, Kind LLC, Quaker Oats, and McKee Foods.
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Snacks bars segment led the cereal bars
market and constituted more than half of the total market share in 2018. Some
of the leading players in the market include General Mills, Inc.; Nestle S.A.;
Atkins Nutritionals; Cliff Bar & Company; Kind LLC; Hain Celestial Group;
and the Kellogg Company.
Cereal bars is a lucrative
market on account of growing spending capacity of consumers. They are generally
consumed between regular meals in smaller portions as compared to regular
meals. Various popular product options include dried fruit snacks and granola
bars.
Further key findings
from the report suggest:
·
Snack bars product segment is projected to
register a CAGR of 5.6% from 2019 to 2025
·
In terms of revenue, energy and nutrition
product segment is anticipated to register the fastest growth in the
forthcoming years
·
Hypermarket and supermarket led the global
cereal bars market with a share of over 45.49% in 2018
·
Central and South America is a natural
resource-rich region marked by the presence of expanding consumer base and
low-cost labor markets. Rising middle-class income fueled healthy cereals bars
to be reasonably priced for consumers is likely to fuel the regional growth
·
Natural and healthy cereal bars is
anticipated to have a decent upsurge in demand over the forecast period, on
account of the increasing demand for the product as breakfast cereal bars, most
particularly among individuals of all age groups in countries such as U.S.,
India, China, Germany, and Japan
·
Some of the key companies present in the
market are General Mills, Inc.; Nestle S.A.; Atkins Nutritionals; Cliff Bar
& Company Hain Celestial Group; and The Kellogg Company. The market is
extremely competitive with companies partaking in various initiatives including
acquisitions, frequent mergers, strategic alliances, and capital expansion
Hypermarkets and supermarkets distribution channel type
occupies a dominant market share owing to the fact that the consumers in this
sector are more likely to be more selective pertaining to existence of several
brands and about the products in various forms, quantity, quality, and cost.
Asia Pacific is one of the most noticeable markets and is
expected to witness the fastest growth over the forecast period. Increasing
household income and economic growth are some of the major drivers triggering
the regional growth.
Global
energy and nutrition bars products segment is anticipated to witness
significant growth in the upcoming years owing to the increasing popularity of
healthy and natural products coupled with growing consumption of cereals in
U.S, Brazil, and Mexico. Additionally, abundant availability of raw materials
including flour, wheat, barley, and corn, among others will drive the growth.
Browse Press
Release of this report:
Products
from the others segments such as granola bars offer several health benefits
such as lowering cholesterol, aiding in weight-loss attempts, increasing the
energy level, regulating digestion, and improving heart health. They also help
build stronger bones, enhance the quality of skin, and manage diabetes, in
addition to lowering blood pressure. The said advantages are expected to fuel
the product demand over the forecast period.
Grand View Research has segmented the
global cereal bar market report on the basis of product, distribution channel:
Cereal Bar Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Snacks Bar
·
Energy & Nutrition Bar
·
Others
Cereal Bar Distribution Channel
Outlook (Revenue, USD Million, 2014 - 2025)
·
Hypermarkets & Supermarkets
·
Food Specialty Stores
·
Convenience Stores
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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