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Cereals Bars in the United States
Mintel, Sep 2006
The cereal bars market consists of two segments: granola bars and breakfast/cereal/snack bars. In 2006, granola bars account for 53% of sales and breakfast/cereal/snack bars comprise 47%. Granola bar segment sales increased 15% between 2004 and 2006 while breakfast/cereal/snack bar sales increased 9.6%. Distinct differences exist between the granola bar and breakfast/cereal/snack bar segments, based on consumer research conducted specifically for this report. Granola bars, while predominantly eaten as a snack, are consumed for more eating occasions than breakfast/cereal/snack bars. They also satisfy more reasons for consuming bars (e.g. as a meal replacement/snack, to maintain metabolism, contribute to weight loss), fueling growth in the segment.
The consumer market for cereal bars in the U.S. in 2006 is $1.4 billion, including Wal-Mart. The market grew an impressive 69% between 2001 and 2006, when measured at current prices, and increased 48% when measured at constant prices. However, sales growth slowed considerably in the last year. At constant 2006 prices, sales growth was only 1% during 2005-06. Slowing sales in the breakfast/cereal/snack bar segment contributed most to the flagging growth rate.
Based on our research, overall growth in the market should continue, albeit at a slower rate. Many cereal and granola bars make nutritional claims that synchronize with the desires of Americans for a healthier diet, which may stimulate sales. Population growth in demographic groups that like to eat cereal bars should occur, including Hispanics, teens, young adults, and households with children. Consumer interest in portable, convenient, healthy meal alternatives and snacks should continue. Finally, the market should maintain or grow sales with line extensions and licensing of successful brands into the cereal bar category (e.g. Kraft’s South Beach license, etc.).
In this report, we analyze cereal bar consumer usage and attitude information not only as a market unto itself, but also as part of the overall consumer market for cereal and nutritional/intrinsic health value bars. The report clearly identifies the principal external factors driving or curtailing growth. Exclusive consumer research reveals the attitudes, needs and behavior of consumers, with analysis broken down both by demographic characteristics, and by segment.
Six years of specific sales data provide a factual and impartial presentation of the market as a whole. This report also evaluates the performance of individual sectors in the market, and provides information about the major companies and brands. Using the SPSS forecasting package, the report creates a five-year forecast of U.S. retail sales, revealing potential opportunities for growth and product development.
This report contains US IRI InfoScan data.
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