The frenetic lifestyles currently led by students and working professionals leave little energy to spare. The slew of ready-to-eat (RTE) foods available in the market is reportedly accountable for causing obesity among the U.S. based consumers. Cereal bars are foods that are rich in protein and fiber and they provide high energy after consumption.
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With health acting as the core focus of balanced diet, consumers are actively looking for nutritious bars to maintain energy. These bars were earlier marketed by targeting healthy individuals or athletes. But with the shifting preference of consumers, manufacturers are redirecting their marketing strategies to target consumers across all demographics.
Myriad of Flavors
The popularity of cereal bars has led to food manufacturers experimenting with various flavors. For instance, KIND bars, one of the popular energy bars, launched the Honey Smoked BBQ flavor for consumers who prefer savory foods. The Hershey brand famed for its chocolate energy bars is planning to launch a nutrition bar comprising meat, vegetables, and protein.
Organic and Gluten-Free Bars
Cereal bars or energy bars derived from organic ingredients are being increasingly preferred by consumers due to their high fiber content. The Special K granola bars by Kellogg’s are a testament to changing consumer preference. General Mills is also joining the competition by offering Annie’s Organic Crispy Snack Bars. High prevalence of celiac disease and other autoimmune diseases are spurring the demand for gluten-free bars.
According to the findings of a report on Radiant Insights, Inc.; the United States cereal bars market is projected to exhibit a lucrative growth rate from 2017 to 2022 (forecast period). The rising consumer awareness levels regarding health and rapid urbanization are some of the factors that can spur the market. Demand for meal replacement foods by working professionals and students can be attributed to market sales. Protein-dense and fiber-rich cereal bars are anticipated to garner substantial market revenues. Prominent market players include Atkins Nutritionals, Inc.; The Kellogg Company; General Mills, Inc.; and Clif Bar & Company.