Europe Cereal Bars Demand to Surge by 6.4% as Fitness Enthusiasts Dote on Super Foods in Protein & Cereal Bars

FMI opines, the cereal bars market will register robust growth at 5.6% CAGR in the upcoming decade as prevalence of obesity rises across the globe. Sales of cereal bars are projected to reach US$ 13,221.3 Million by the end of 2022. As millennials are focusing on weight management to reduce the risk of lifestyle disorders, the demand for cereal bars is expected to surge. By 2032, the cereal bars market is estimated to surpass a valuation of US$ 22,798.9 Million.

As consumers are inclining towards healthy snack options, demand for flavored protein and granola bars is increasing, especially in the U.K., Germany, and other European countries. Hence, some of the key players in the Europe market are integrating superfoods in cereal bars to woo the consumers.

Further, with growing fad of veganism is encouraging key players to add plant-based ingredients and gain revenue. As per FMI, the U.K. and Germany are expected to dominate the Europe cereal bars market over the upcoming decade.

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With rising popularity for protein rich breakfast among gym and sports enthusiasts, especially across the U.K., Germany, and France, the demand for cereal bars is predicted to rise in Europe. Additionally, as per the study, rising prevalence of gluten allergies in Germany, consumers in the countries are opting for gluten-free and dairy free nutritious cereal bars. Hence, key players are eyeing the Germany market to establish their brand presence for their plant-based product line.

Key Takeaways from the Cereal Bars Market

The cereal bars market in Europe is projected to expand at 6.4% CAGR during the forecast period.
Sales in Germany cereal bars market are anticipated to increase at 4.8% CAGR over the assessment period.
Increasing demand for superfood enriched cereal and protein bar will propel the growth in Europe cereal bars market.
The U.K. is expected to account for lion's share in the Europe cereal bars market.

"Increasing preference for plant-based protein in the morning across Europe is paving the way for cereal bar makers. Hence, to capitalize on the existing trend, they are introducing super foods cereal bars over the forecast period." - Says an FMI Analyst.

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Competition Landscape in the Cereal Bars Market

Leading cereal bars manufacturers are leveraging their wide range of flavored product range to gain revenue. They are also relying on mergers & acquisitions and collaboration with leading food companies to improve their brand presence and expand their customer base.

Europe is expected to witness immense competition in the cereal bars market over the next decade, opines FMI. Hence, these companies are developing products with organic and plant-based ingredients targeting vegan consumers to improve their revenue.

Nestle S.A., General Mills Inc., and Natural are some of the key players gaining momentum in the global cereal bars market. 

Recent Developments

In December 2020, Ferrero Group announced the acquisition of the U.K. cereal bars maker Eat Natural, leading maker of high-quality cereal bars, toasted muesli and granola, to improve the brand presence and expand product portfolio.
In July 2020, Nestle announced the launch of its new range of cereal snack bars, YES! with each containing nearly 10 grams of plant protein from the natural ingredient combination of nuts and peas.

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Cereal Bars Market Outlook by Category

By Product Type:

Snack Bar
Energy & Nutrition Bar
Protein Bar
Granola Bar
Others

By Application:

Boost Energy
Muscle Building
Weight Gainer
Meal Replacement
Lean Muscle

By Flavor:

Caramel
Chocolate
Peanut Butter
Honey
Others

By Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
E-Commerce
Specialty Stores
Others

By Form:

Solid
Liquid

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.