The global cereal bars market was valued at USD 23.3 billion in 2022 and is expected to grow at a CAGR of 6.5% from 2023 to 2030. The factors driving the market are the rising health-consciousness among consumers, the increasing demand for convenience foods, and the growing demand for healthier snacks. Additionally, the rising trend of snacking between meals is further boosting the market growth. Cereal bars are gaining popularity among consumers due to their convenience, convenience, and nutritional value. Furthermore, the availability of a wide variety of cereal bars such as oat bars, crunchy bars, muesli bars, and others is further fueling the market growth.

In terms of product type, the oat bars segment is expected to dominate the market due to its growing popularity among consumers. Oat bars provide a good source of dietary fiber, which helps to lower cholesterol levels. Additionally, the rising demand for healthy snacking is driving the growth of the segment. Furthermore, the increasing number of product launches with innovative flavors and ingredients is further boosting the market growth. For instance, in January 2021, Quaker Oats launched a new line of oat bars with flavors such as strawberry, blueberry, and chocolate.

The increasing demand for organic cereal bars is propelling the market growth. Organic cereal bars are made with organic ingredients, which are free of artificial colors, flavors, and preservatives. Furthermore, organic cereal bars have no added sugar, which makes them healthier than conventional bars. Additionally, organic cereal bars are gaining popularity among health-conscious and weight-conscious consumers as they are high in protein, minerals, and vitamins. Furthermore, the increasing number of product launches by manufacturers is further driving the market growth. For instance, in August 2020, Stryka Nutrition launched a line of organic cereal bars with flavors such as peanut butter and banana, cranberry and almond, and blueberry and almond.

The increasing popularity of plant-based cereal bars is also driving the market growth. Plant-based cereal bars are made with plant-based ingredients such as nuts, seeds, fruits, and grains. Furthermore, plant-based cereal bars are gaining popularity among vegans and vegetarians as they are a healthier alternative to conventional cereal bars. Additionally, manufacturers are introducing new product launches to cater to the rising demand for plant-based cereal bars. For instance, in October 2020, Nature Valley launched a plant protein bar with flavors such as Chocolate Peanut, Dark Chocolate Almond, and Peanut Butter & Dark Chocolate.

Moreover, the increasing demand for cereal bars from the bakery and confectionery industry is also driving the market growth. Cereal bars are increasingly being used as ingredients in bakery and confectionery products such as cakes, pastries, and desserts. Furthermore, the introduction of new flavors and ingredients is expected to further bolster the market growth. Additionally, manufacturers are focusing on expanding their product portfolios through product launches and would therefore drive the demand for cereal bars in the bakery and confectionery industry in the coming years.

The breakfast bars segment dominated the market in 2022 and accounted for a share of around 45.0%. The high nutritional content, convenience, and portability of breakfast bars are driving the growth of the segment. Furthermore, breakfast bars are proving to be a popular alternative to traditional breakfast and snacks. According to a survey conducted by Kantar Worldpanel, in April 2019, 94% of respondents said that breakfast bars are a part of their regular snacking routine. The increasing demand for breakfast bars and cereal bars as a healthy snack among individuals is another factor driving the growth of the market.

The organic cereal bars segment is anticipated to expand at the fastest CAGR of 12.9% over the forecast period. Growing health consciousness among consumers and increasing demand for organic products are some of the key factors driving the growth of the segment. Furthermore, the emergence of several organic cereal bar brands and increasing consumer preference for organic products are some of the other factors driving the segment growth. According to an article published by Food Industry Executive, in August 2020, 79% of consumers said that they prefer organic food over conventional food.

The supermarkets and hypermarkets segment held the major share of the cereal bar market in 2022 and is expected to grow at a CAGR of 8.4% over the forecast period. Supermarkets and hypermarkets offer a wide range of products under one roof. They are preferred by the consumers due to their convenience, one-stop shopping experience, and easy availability of products. According to a survey by MarketsandMarkets in 2020, consumers prefer to buy cereal bars from supermarkets and hypermarkets due to their wide product range and competitive pricing.

The convenience stores segment is anticipated to register the highest CAGR of 8.8% over the forecast period. Rising number of convenience stores, increasing awareness among consumers regarding the availability of cereal bars, and growing demand for healthy snacks are some of the factors driving the growth of this segment. In addition, rising disposable income and changing lifestyle of people are some of the factors driving the growth of the convenience stores segment.

The conventional segment accounted for the largest revenue share of 65.3% in the year 2022. The increasing demand for convenience food products such as cereal bars is the key factor driving the growth of the conventional segment. The increasing preference for ready-to-eat products has led to the growth of this segment. The growing demand for health and wellness products is also driving the growth of the conventional segment. Furthermore, the convenience and lower cost of cereal bars as compared to other snacks are also boosting the growth of the segment.

The organic segment is expected to expand at the highest CAGR of 9.3% over the forecast period. The rising awareness among consumers regarding health and wellness products is driving the demand for organic cereal bars. Moreover, increasing disposable incomes of consumers in developing countries, such as China and India, and their growing health consciousness are also driving the growth of the segment. Furthermore, the growing demand for gluten-free, vegan, and non-GMO products is also driving the segment’s growth.

Europe dominated the market and accounted for the largest share of over 43.6% in 2022. This growth can be attributed to the increasing demand for convenient and healthy snacks among consumers in the region. The growing demand for cereal bars in the region is driven by the health-conscious population in countries, such as the UK, Germany, and France. Furthermore, the availability of a wide range of flavors, such as honey, cinnamon, and fruit, has increased the popularity of cereal bars in the region.

North America is expected to witness the second-fastest growth in the coming years. This growth can be attributed to the increasing consumer preference for on-the-go snacks and busy lifestyles in the region. The increasing demand for healthy snacks, such as cereal bars, among the health-conscious population is also driving the growth of the market in the region. Furthermore, the rising trend of vegan-based cereal bars is expected to further drive the growth of the market in the region. For instance, in March 2021, Clif Bar & Company introduced a new range of vegan-based cereal bars in the U.S.

In the Financial Projections section of the Cereal Bar Products business plan, we will outline the expected income and expenses associated with the business. This section will include a cash flow statement, a projected income statement, and a projected balance sheet.

Revenue Assumptions
The main source of revenue for a cereal bar products business comes from the sale of cereal bars. Depending on the size of the business and the variety of products being offered, additional sources of revenue may include sales of related products such as granola, nuts, and dried fruit, as well as sales of cereal bar-making kits.

Projecting Expenses
The operating expenses associated with a cereal bar products business include ingredient costs, packaging costs, delivery costs, advertising costs, and any other costs associated with running the business. Additionally, the business will need to budget for overhead costs such as rent, insurance, and utilities.

Some of the key companies operating in the cereal bar market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In October 2022, Kellogg’s launched the new Plant-Based Protein Cereal Bar, a vegan-friendly product containing 10g of plant-based protein.

– In May 2022, General Mills launched the Protein Bites Cereal Bar, a product containing 9g of protein per bar.

– In July 2022, Dorset Cereals launched a new range of cereal bars, containing a variety of nutritious ingredients.

Some of the prominent players in the cereal bar market include:

– Kellogg’s
– General Mills
– Nestle
– Dorset Cereals
– PepsiCo, Inc.
– TreeHouse Foods, Inc.
– Nature’s Path Foods
– Quaker Oats Company
– The Hain Celestial Group
– Freedom Foods Group Limited

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cereal bar products market based on type, distribution channel, and region:

1. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Fruit-based Bars
– Nut-based Bars
– Other Types

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of Growth?
[A]: The key drivers of growth for the cereal bar products market include the increasing demand for convenience food products, the increasing health-consciousness among consumers, and the availability of various flavors and packaging options. The increasing focus on promoting a healthy lifestyle and the emergence of new product categories such as organic and vegan cereal bars are also driving the growth of the market.

[Q]: Who are the Key Players in the Cereal Bar Products Market?
[A]: The key players in the cereal bar products market include General Mills Inc., Kellogg Company, Nestlé S.A., Clif Bar & Company, Freedom Foods Group, Nature’s Bakery, and Kind LLC.

[Q]: What are the Factors that are Restraining Market Growth?
[A]: Factors such as the presence of unhealthy ingredients, the high price of certain products, and the lack of consumer awareness about the availability of healthy cereal bar products are expected to restrain the growth of the market.

[Q]: What is the Potential for Product Innovation?
[A]: Product innovation is expected to be a major driver of growth in the cereal bar products market. Companies are introducing new products with innovative flavors and ingredients to attract more consumers and remain competitive.

[Q]: Which Region Offers the Largest Opportunity for Sales of Cereal Bar Products?
[A]: North America is the largest market for cereal bar products and is expected to remain the largest market over the forecast period. The region is expected to offer the highest opportunity for sales owing to the high demand for convenience and health food products among consumers.