Report: Energy Bars Are on the Rise

The global bakery and cereals sector was valued at USD478bn in 2016 and is forecast to record a CAGR of 3.4 % during 2016-2021 to reach USD565.6bn by 2021.

The “Opportunities in the Global Bakery and Cereals Sector” report recently launched by ReportBuyer.com shows that North America represented the largest region for the global Bakery and Cereals sector, with a value share of 28.55% in 2016, while Western Europe was a close second with a 28.50% share. Asia-Pacific is forecast to record the fastest CAGR of 6.7% during 2016-2021 among all regions.
A growing population, the rising urbanization rate, and improving economy will remain the primary macroeconomic factors driving the sector globally. The energy bars category is set to be the fastest growing market, with a projected CAGR of 5.3% during 2016-2021, given the ability of these products to offer on-the-go nutrition, especially for time-poor working individuals.
Bakery and cereals with health and wellness attributes accounted for 10.8% of the overall global sector sales in 2016. North America held the largest share of 15% for products with health and wellness attributes in 2016, while Asia-Pacific is forecasted to register the fastest growth at a CAGR of 6.2% during 2016-2021.
The global bakery and cereals market is highly fragmented with the top four brands – Yamazaki, Bimbo, Pepperidge Farm, and Oreo – accounting for 3.3% of value share in 2016. The overall market share for private label products in the global bakery and cereals sector stood at 9.7% by value as of 2016, an increase from 8.9% in 2011.
Western Europe had the highest market share for private label products with 15.3% of the total bakery and cereals sales in 2016, an increase from 14.7% in 2011. It was followed by North America with a market share of 10.6% in 2016, while Latin America had the lowest private label share at 3.7%.
Hypermarkets and supermarkets were the leading distribution channels for the global bakery and cereals sector, with a value share of 41.9% in 2016, followed by food and drinks specialists with a 37.1% share.