The brand new report by Professional Market Analysis titled, ‘International Cereal Bars Market Evaluation, Share, Measurement, Worth, Developments, Progress, Report and Forecast 2023-2028’, provides an in-depth evaluation of the worldwide cereal bars market, assessing the market primarily based on its segments like product, distribution channel, and regional market amongst others.
The report tracks the newest traits within the business and research their influence on the general market. It additionally assesses the market dynamics, masking the important thing demand and worth indicators, together with analysing the market primarily based on the SWOT and Porter’s 5 Forces fashions.
The important thing highlights of the report embrace:
Market Overview (2018-2028)
- Historic Market Measurement (2022): USD 12.98 billion
- Forecast CAGR (2023-2028): 4%
Over the forecast interval, the rising buying energy parity is predicted to drive snack demand. In nations resembling China, the US, and India, excessive demand for wholesome cereal bar merchandise is predicted to spice up development.
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Granola bars assist to strengthen bones, enhance pores and skin high quality, and management diabetes whereas reducing blood stress, so the business is predicted to develop. In Europe, the cereal bar market is rising because of the rising snacking development amongst youthful customers. As a result of busy life and shifting dietary patterns, there is a rise in demand for wholesome and ready-to-eat (RTE) meals merchandise like cereal bars that assist individuals keep a balanced weight loss plan.
Moreover, the rising participation of people in bodily actions is aiding market enlargement. Moreover, as individuals turn into extra health-conscious, demand for pure substances resembling coconuts, peas, almonds, and velvety cocoa butter, in addition to sunflower and chia seeds, is rising. Gluten-free, sugar-free, and non-genetically modified (non-GMO) varieties with no components or preservatives are additionally out there from the most important corporations.
Cereal Bars Trade Definition and Main Segments
Cereal bars are fortified with nutritional vitamins, minerals, and different important vitamins and are made with corn starch, biscuits, oats, rice, milk, and edible adhesives. Iron, carbohydrates, fibre, proteins, antioxidants, phosphorus, and potassium are all plentiful in these bars. They might help you achieve vitality, drop pounds, achieve muscle mass, enhance digestion, and strengthen your bones. They’ll additionally assist with diabetes administration, blood sugar management, and blood stress management, in addition to decreasing urge for food and offering additional vitality throughout endurance sports activities.
There’s a rise in demand for nutritious and ready-to-eat (RTE) meals merchandise like cereal bars that assist customers keep a balanced weight loss plan attributable to busy lives and altering dietary habits. Moreover, the rising reputation of bodily actions helps to broaden the market.
Moreover, as individuals turn into extra health-conscious, demand for pure substances like coconuts, peas, almonds, and silky cocoa butter, in addition to sunflower and chia seeds, is rising. The principle manufacturers additionally present gluten-free, sugar-free, and non-genetically modified (non-GMO) variations with no chemical compounds or preservatives.
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On the idea of Product, cereal bars market is segmented into:
- Granola/Muesli Bars
- Different Bars
Based mostly on the Distribution Channel, cereal bars market is split into:
- Comfort Shops
- Speciality Shops
- On-line Shops
- Different Distribution Channels
The foremost regional markets of cereal bars market are:
- North America
- Asia Pacific
- Latin America
- Center East and Africa
Cereal Bars Market Developments
In the course of the forecast interval, establishing linked warehouses at essential areas to move items in a well timed method is predicted to be a key driving drive within the cereal bars business. As a result of a change in shopper consuming behaviours resembling snacking in between meals and consuming snacks as a substitute of full meals, North America had a excessive demand share within the cereal bars market in 2020.
People’ consumption of wholesome meals merchandise, resembling cereal bars, has grown on account of the COVID-19 epidemic. Market individuals, then again, are unable to fulfil rising demand attributable to government-imposed restrictions and damaged provide chains in quite a few nations. As soon as the lockdown limitations are lifted, the market is predicted to rebound.
Key Market Gamers
The foremost gamers available in the market are PepsiCo, Inc. (NASDAQ: PEP), Kellogg Co., Normal Mills, Clif Bar & Firm, Freedom Dietary Merchandise Restricted (Arrovest Pty. Ltd.), Yoga Bar, Sort LLC, NuGo Diet, amongst others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, amongst different newest developments of those market gamers.
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