The global cereal bars market size is likely to gain momentum owing to increasing demand for convenient food products. Fortune Business Insights, in its latest report, titled “Cereal Bars Market Size, Share & Industry Analysis, By Type (Snack Bars, Energy & Nutrition Bars), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Retail Stores, Online Retail Stores, Others)Others and Regional Forecast, 2021-2028.”, predicts that increasing demand from fitness enthusiasts for granola bars, protein bars, and healthy cereals, among others will drive the market growth during the forecast period.
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Cereal bars are the ideal on-the-go snacks that are easy to eat, affordable, and are healthy option to eat when hungry. They are made up of several different types of sugar such as glucose syrup, barley malt syrup, fructose, lactose, and raw cane syrup, among others. Though termed healthy food products, some cereals contain high amount of sugar and salt that can be unhealthy for consumption. However, some carb-containing cereal bar can be a perfect option to have a healthier and balanced diet, while you on move or need a quick snack. For instance, granola bars that contain peanut butter consist of relatively low calories, while providing the body with over four grams of protein when consumed.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Product Launches to Drive the Market
Rising awareness for consumption of healthy food products is propelling the companies to develop nutritious snacks that can be consumed on the move. In addition to this, growing awareness about the adverse effects of micronutrient deficiency is driving the demand for cereals that are packed with vitamins and cereals. Furthermore, the companies developing food products to cater to the increasing demand of health-conscious people is expected to boost the demand for the market in the forthcoming years. For instance, in December 2019, Huel Ltd., a U.K.-based company, launched cereal bars that contain over 27 vital vitamins and minerals for the market in United States.
According to the market report, the companies are striving to gain major market share that will aid the market growth in coming future. Furthermore, adoption of strategies such as product launches, merger and acquisition, and collaboration by the players is expected to drive the growth of the market during the forecast period. For instance, in April 2020, the healthier snack brand, Graze announced its launch of super snacks cereal bars for kids with 50% less added sugar than other cereal bars. The company promises that the three oat-based variants that include chocolate, strawberry, and toffee apple flavors provide about 23 grams protein per 100 kcals, with no more than 1.4 grams of saturated fat per bar.
A Boost for Cereal Food Products amid COVID-19
The ongoing pandemic, COVID-19 has brought upon positive effects for the cereal-based food products. A great demand for convenient foods and on-the-go snacking is being witnessed as people are stocking up healthy snack bars and breakfast cereals, while there is total uncertainty about the end of lockdown called upon several governments across the globe. Furthermore, the manufacturers have increased the production and stocked up the market to cater to the increasing demand of consumers.
Regional Analysis:
Increasing Awareness for Health Consciousness in Asia-Pacific to Boost Demand
Among the regions, the market in Asia-Pacific will rise substantially to garner positive global cereal bars market revenue during the forecast period. This is ascribable to factors such as growing awareness among people for consumption of healthy food products and high disposable income. Additionally, the manufacturers are coming up with innovative food products to cater to the demand of increasing health conscious people in several Asia Countries. North America, on the other hand, is expected to foresee growth owing to increasing demand for on-the-go snacks and nutritious food products. Furthermore, growing inclination towards vegan food is increasing the demand for plant-based cereal in this region.
List of Companies Proliferating in the Market:
- Kellogg Company
- Nestle S.A.
- General Mills, Inc.
- Clif Bar & Company
- The Quacker Oats Company
- Atkins Nutritionals, Inc.
- PepsiCo, Inc.
- McKee Foods
- Weetabix Ltd.
- Naturell India Pvt. Ltd.
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https://www.fortunebusinessinsights.com/cereal-bars-market-102260
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