Technavio Expects the Global Cereal Bars Market to Reach Close to USD 14 Billion by 2020

LONDON--()--The global cereal bars market is set to reach close to USD 14 billion by 2020, growing at a moderate rate during this period, according to Technavio’s latest report.

Technavio covers the market outlook and growth prospects of the cereal bars market for 2016-2020. Based on product platforms, the market is divided into three segments: snack bar, nutrition bar, and others.

Technavio’s research study segments the global cereal bars market into the following four regions:

  • Americas
  • Europe
  • APAC
  • ROW

Americas: Largest cereal bars market

Technavio’s latest study reports that the Americas is the largest market for cereal bars and will continue to have the largest share of this market until 2020. Key factors driving this market is the introduction of new products, the increase in demand for low fat cereal bars, the increasing popularity of on-the-go grab breakfasts, the change in snacking culture, and broad retail distribution that encourages both planned and impulse buying decisions.

Technavio’s lead research analyst, G Vijay Sarathi, says, “Manufactures in countries such as the US are emphasizing protein and fibre content in cereal bars as a substitute for breakfast items such as bagels and cereals. The demand for cereal bars is also emerging from countries with an increasing number of immigrants, such as Canada.

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Technavio's report identifies the following companies as the top vendors of the global cereal bars market:

  • Atkins Nutritionals
  • Cliff Bar
  • General Mills
  • Kellogg's
  • Nestle Fitness
  • Quaker Oats

The other prominent vendors in the market include Freedom Foods, Kashi, McKee Foods, Mars, Pharmavite, and Naturell India.

Europe: Second largest market for cereal bars

The new report by Technavio states that the cereal bars market in Europe is driven by the busy and hectic lifestyle of its population, thus prompting consumers to look for on-the-go consumption options, such as cereal bars.

“In Denmark and Germany, cereal bars are considered one of the healthiest on-the-go breakfasts. Similarly, in Norway, growing health awareness among people is expected to fuel the cereal bars market,” says Technavio’s lead research analyst, G Vijay Sarathi.

The cereals bars market is further driven by healthy snacking habits and the growing popularity of these bars among sports personalities. Vendors often position this product as a meal replacement solution, thus highlighting its convenience to their customer base. To sustain its popularity, vendors have introduced various new products, such as protein bars for women.

Key factor influencing the global cereal bars market: Growing demand for sugar-free cereal bars

The new report by Technavio draws attention towards the growing demand for sugar-free cereal bars, as a fast-trending factor of this market. The WHO recommends that children and adults should decrease their daily intake of sugars to less than 10% of their total energy intake. Though cereal bars are healthy and have high nutritional value, they also contain high levels of sugar. Hence, sugar-free cereal bars are becoming increasingly popular in all regions.

“The introduction of sugar-free cereal bars such as Russel Stover Sugar Free Breakfast Bars Chewy Granola and Sorbee Sugar Free Cereal Bars has encouraged the calorie conscious group to become consumers of this market. Sugar-free cereal bars are also marketed to diabetic patients as safe edibles between meals,” says G Vijay Sarathi.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida, US: +1 630-333-9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com

Release Summary

The global cereal bars market is set to reach close to USD 14 billion by 2020, growing at a moderate rate during this period, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida, US: +1 630-333-9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com