Europe Cereal Bar Market is projected to grow at a CAGR of 3.5% during the forecast period 2020-2025.
- Cereal bars are being consumed as replacements for breakfast bars. Cereal bar-producing companies are offering several tailor-made products, which are not only nutritious and beneficial for health, but also appetizing.
- Initially, diet-conscious individuals and athletes consumed cereal bars as a workout aid or a meal supplement. However, health benefits, portability and on-the-go features associated with cereal bars attracted consumers at large, including baby boomers and teenagers, thus, reflecting a surge in the market share and growth potential during the study period.
Key Market Trends
Increased Preference for on-the-go Breakfast, Convenience, and Meal Replacement Products
In Europe, a vast majority of adults consume cereal bars, with two-thirds of these interested in nutritionally beneficial bars. At present, stores are heavily flooded with all types of snack bars, like protein-rich bars, nutritious bars, gluten, and sugar-free bars, which attract various groups of consumers. Moreover, in the energy/nutrition bar category, companies are coming up with new flavor and ingredient introductions, along with improvements in taste and mouthfeel, which have made the future of these products look a lot more interesting. Among the functional ingredients that manufacturers are using, to vary the nutrition bar formula, are CoQ10, L-carnitine, omega-3, resveratrol, and vitamin K2.
Supermarket/hypermarket holds Prominent Share in the Market Studied
In Europe, mass merchandisers i.e. supermarkets/hypermarkets have an inherent advantage in terms of sufficient shelf-space as well as the bundling of products that are primarily aimed at achieving economies of scale. The supermarkets/hypermarkets provide super-sized shopping experience with suitable displays and assortments of indulgent snacking products. Expanding retail chain in Eastern Europe offer a potential growth opportunity to the market. Moreover, cereal bar companies are building relationships with nutritional experts and dietitians, in order to augment their sales through specialty and nutrition stores.
Europe Cereal Bar market is competitive with a significant number of existing multinational players. Emerging startups offering new products possess tough competition for the existing players. Innovative product launches in various formats and compositions are the most adopted strategies by these players. Private label brands provide tough competition to the existing players with their flavored product offerings. Major players include- Nestlé S.A, Kellogg, General Mills, Inc., Eat Natural, KIND LLC among others.
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