Frequently Asked Questions
The global cereal bars market was valued at USD 13.4 Billion in 2022.
The cereal bars market is expected to grow at a CAGR of 5.80% between 2023 and 2030, reaching USD 19.9 Billion in 2030.
Snack bars category is the leading segment by type, holding over 60% share in terms of value in 2022.
The hypermarkets/supermarkets segment governs the demand for cereal bars in the world, holding a massive share of over 28% in 2022.
The convenience stores segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the cereal bars industry, with over one-third share in 2022.
The top players include Kellogg Company, Nestle S.A., McKee Foods, General Mills, Inc., Clif Bar & Company, Atkins Nutritionals, Inc., The Quacker Oats Company, PepsiCo, Inc., Weetabix Ltd., and Naturell India Pvt. Ltd.
The market is expanding as a result of people taking an increased interest in physical activity. The demand for variations produced with natural ingredients like coconuts, peas, almonds, velvety cocoa butter, sunflower and chia seeds is also increasing due to a growing health consciousness.
Due to lockdowns enforced by various governments and interrupted supply chains, market actors are unable to meet the rising demand. As soon as tight limitations are eased, the market is expected to rebound.
Opportunities like the rising middle-class population and the growing awareness of the health advantages of cereal bars, such as cholesterol reduction, weight loss, increased energy, and digestion control, are accelerating the market’s expansion.