The cereal bar market will estimate a CAGR of 7.44% over the years 2021 and 2028. The primary drivers of the cereal bar market's expansion are the food and beverage industry's growth and expansion, consumers' rising desire for portable, ready-to-eat snacks, their increasing awareness of high-quality, nutritious snacks, and the major firms' expanding personal disposable income.
It is obvious from the name alone that cereal bars are the foods or snacks that are eaten in place of traditional snacks. Cereals of many kinds and other nutrient-dense components are used to make cereal bars. Pressing cereals with nuts, berries, and other ingredients results in cereal bars. Low in calories and bound with glucose syrups are cereal bars.
The market for cereal bars is expanding primarily due to rising demand for snacks high in fibre and increased consumer awareness of their advantages. Other significant elements influencing the growth of the cereal bars market are changing lifestyles, westernisation, increased demand for value-added goods like low-fat cereal bars, rise in the need for nutritious snacks in emerging regions, and an ever-increasing worldwide population.
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Global Cereal Bar Market Scope and Market Size
On the basis of product type, the global cereal bar market is segmented into granola/ muesli bars, snacks bars, energy and nutrition bars and other cereal bars.
On the basis of distribution channel, the cereal bar market is segmented into food specialty stores, convenience stores, supermarkets/ hypermarkets, online stores and others.
On the basis of flavors, the global cereal bar market is segmented into caramel, banana, chocolate, honey, strawberry, peanut butter and others.
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Cereal Bar Market Country Level Analysis
The cereal bar market is analyses and market size, volume information is provided by country, product type, distribution channel and flavours as referenced above.
The countries covered in the cereal bar market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the cereal bar market and will continue to during the forecast period owing to the rising demand for cereal bars as alternatives to breakfast meals. Asia-Pacific is set to undergo substantial gains and register the highest compound annual growth rate (CAGR) during the forecast period. This is because of the growing retail sector, globalization, westernization, changing lifestyle, and increasing personal disposable income. Also, rising product innovations by the major manufacturers in regards to flavors will also foster the growth of the market.
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Competitive Landscape and Cereal bar Market Share Analysis
The major players covered in the cereal bar market report are:
Kellogg Co., Jordans., General Mills, Inc., Nestlé, Abbott, PepsiCo, Simply Good Foods USA, Inc., Ocado Retail Limited, The Quaker Oats Company,, Mars, Incorporated, Hain Celestial, Associated British Foods plc, Clif Bar & Company., KIND LLC, Concord Foods, LLC, FRANK Food Products, Natural Balance Foods, To You, Perfect Bar and Bobo's among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately.
