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North America is one of the leading regions in the global cereal bars market, driven by the presence of the major key players in the region. The Asia Pacific is also a significant emerging market for cereal bars and is projected to experience a robust growth in the forecast period. The market in the regions is expected to be driven by rising demand for convenient and healthy snack food due to the increasingly busy lifestyles of the consumers.
The growing consumption of cereal bars is attributed to the growth in the granola and nutrition bar product segment. The increasing health awareness and purchasing power parity and growth in dry fruit snacks consumption have also fuelled the market growth for cereal bar. This has led to high competition amongst manufacturers, which has resulted in the innovation and development of cereal bars across different price ranges. Cereal bar producers are offering several custom-made products that are not only nutritious and health-friendly, but delicious too. Over the years, cereal bars made from granola and muesli have experienced a substantial growth due to their flavour, nutritive value, and functionality. Currently, the COVID-19 pandemic induced lockdown across the globe has also aided the market growth in some segments as people are stocking up on essentials and snack items. PepsiCo (NASDAQ: PEP), one of the key players in the industry, have reported surges in their snack and breakfast segments post the lockdown, which is influencing the global cereal bars market positively.
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The key players in the global cereal bars market include PepsiCo, Inc., Kellogg Co., General Mills, Clif Bar & Company, Freedom Nutritional Products Limited (Arrovest Pty. Ltd.), Yoga Bar, Kind LLC, NuGo Nutrition, and others. The report renders a detailed analysis of the above key players in the global market for cereal bars, examining their capacity, market shares, and the latest developments such as capacity expansion, plant turnarounds, and mergers and acquisitions.
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