Sales of cereal/granola bars and energy/nutrition bars grew to $5.7 billion in 2011, per Packaged Facts’ “Food Bars in the U.S.” report. Mintel, meanwhile, estimated the 2011 cereal/snack bar category at $3.7 billion in retail sales, with granola bars far outpacing the category’s other segment, breakfast/cereal/snack bars: $3.1 billion to $1.5 billion, respectively. For its part, Packaged Facts predicts the bar market will grow strongly over the next several years, projecting the market will reach nearly $8.3 billion by 2016.
However, Mintel suggests otherwise. In fact, according to that research group, the category’s heyday would appear to be behind it, judging purely by sales growth data. Between 2009-2011, the market grew 4.9%; however, in 2010-2011, sales were essentially flat, Mintel found—possibly an indication that consumers are seeking other breakfast and snacking options. As such, manufacturers are responding with a host of innovative new cereal bars that attempt to capitalize on any of a number of the industry’s leading trends.