Market Trends of Cereal Bar Industry
Rising Demand for On-the-go and Small-portion Snacking
Cereal bars are becoming extremely popular, especially among working-class people, teenage children, people living in hostels, and bachelors. These nutrition bars offer a portable, convenient, and often healthier choice for a quick, on-the-go meal and an immediate consumption choice to stave off hunger. Additionally, Companies are launching a wide range of products crafted with delicious flavors and nutrients, especially for kids. For instance, in October 2022, General Mills launched gluten-free and USDA-certified organic granola bars for kids under its brand - Cascadian Farm. The availability of various types and flavors is an added factor responsible for driving the market studied. Rising demand for fiber-rich snacks and growing awareness about the benefits of cereal bars are the major factors fostering the growth of the cereal bars market. Changing lifestyles, westernization, rising demand for value-added products such as low-fat cereal bars, growth in the demand for healthy snacks in developing regions, and the ever-rising global population are other essential factors acting as significant drivers.
North America Holds the Largest Share of the Market
New product launches, the increasing popularity of on-the-go breakfasts, and broad retail distribution that encourages planned and impulse buying decisions drive the market studied in North America. The United States accounts for a majority share of the market in the region due to hectic schedules and rising health consciousness among consumers. Recently, the demand for natural and organic-based products has increased, with many consumers preferring certified organic products to avoid consuming synthetic flavors and ingredients commonly used in cereal bars. Therefore, numerous manufacturers tend to launch products with organic ingredients. For instance, in February 2023, Mooski Bars, a San Diego-based start-up company, launched cereal bars with organic oats, nut butter, almond flour, coconut oil, and organic agave. The brand claims the bars are available in different flavors, including peanut butter, banana, cookie dough, and chocolate peanut crunch. The products are sold in coffee shops and specialty markets in California. Moreover, The prevalence of lifestyle diseases like obesity, diabetes, and cholesterol drives the consumption of low-calorie and high-fiber snacks in Mexico. According to the International Diabetes Federation, 16.9% of the adult population in Mexico had diabetes in 2022.
