Global population has been witnessing a gradual decrease in terms of their mobility. Increasing automation has reduced the amount of manual labour to be put into doing any activity which has resulted in the consumers leading a more sedentary lifestyle. There have been multiple reports publishing the alarming rate at which global obesity has been increasing. People have been falling critically ill owing to lifestyle diseases such as cardiac arrest, high cholesterol, diabetes, among others. These factors have caused consumers to switch to a diet which is easily available and is convenient to carry.
These aspects have led to the rise in popularity of the cereal bars which are marketed as an alternative to snacks, meals, and unhealthy cravings. In addition to this, the advent of personal fitness programs available on mobile devices also promote the consumption of these cereal bars owing to them being low on calories, cholesterol, sugar, and high on protein and other beneficial dietary content. Asia Pacific, owing to it having a relatively younger population is anticipated to have the highest growth rate. Economies such as India, China, Singapore, Japan, and South Korea are likely to drive the growth of the cereal bars market in this region.
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Impact of COVID 19 on Cereal Bars Market:
COVID-19 had for some time brought international trade to a standstill. Global borders had been closed on account of mitigating and preventing further spread of the virus. In addition to this, many companies have temporarily or permanently shut operations leading to salary cuts or employe layoffs which has considerably affected the spending power of the consumer. However, packaged foods are likely to see a rise in their growth which will eventually be reflected in the consumption of cereal bars as consumers get more health-conscious as well as start preferring food items based on the safety of the packaging. Companies involved in this market will have to increase their supply chain transparency while also integrating safe packaging policies.
Global Cereal Bar Market Segmentation:
By Sales Channel
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now