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Technavio’s research analyst predicts the global cereal bars market to grow at a CAGR of around 4% during the forecast period. Growing importance of health, wellness, and changing lifestyles is the primary growth driver for this market. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of artificial and synthetic food products. People have become more concerned and cautious about their health and fitness and are paying more attention to the nutritional content of the food they eat, which in turn is stimulating the demand for cereal bars across the globe.
Growing popularity of cereal bars among sportsmen and young adults is another emerging driver that is expected to boost the market growth during the forecast period. Healthy snacking is necessary for athletes to perform, and they are required to consume meal frequently throughout the day. Cereal bars are high in fiber and aid in appetite suppression, enhanced digestive health, and weight management. Hence, the demand for these products is gaining traction among the sportsmen.
With a substantial share of close to 82%, the snacks bar segment dominated the overall cereal bars market in 2015. The main factors attributed to the growth of this market are growing health conscious people coupled with the need for nutritious food products that are fortified with fiber, omega-3, and calcium, which helps in maintaining a healthy lifestyle.
In 2015, supermarkets and hypermarkets were the most significant retail outlets to sell cereal bars because of the availability of a wide range of products at discounted price. With over 58%, this segment contributes the biggest share of the overall market, and this trend is expected to stay until the next five years.
The major distribution channels are -
The burgeoning demand for cereal bars emerging from developing countries is captivating the international cereal bar providers. Hence, developing countries are the next destination for these vendors. Moreover, with the existence of robust competition in the market, venturing into developing countries and making their presence known is one dynamic strategy that will help these players stay on the top.
The leading vendors in the market are -
Other prominent vendors in the market include Freedom Foods, Kashi, McKee Foods, Mars, Pharmative, and Naturell India.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market segmentation by product
PART 08: Market segmentation by distribution channel
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
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