Cereal and Snack Bars - UK - February 2011
Growth of 32% against 2005 saw the market reach an estimated £371 million in 2010. The robust growth conceals a slowing trend in annual growth rates from 8% in 2008 to 4% in 2009 and just 2% in 2010.
This partly reflects the slowing trend in food price inflation since 2008. However, the market also appears to have been negatively affected by the recession, and the shift in consumer focus from health, a strength area for the bars, to value for money.
- Variety packs stand to appeal to the three in five users of cereal and snack bars who report being interested in multipacks offering different flavours.
- Greater focus on nutritional benefits in marketing and product development stands to attract the nearly two in three cereal and snack bar users stating an interest in such positive nutrition.
- Breaking away from staple flavours like chocolate and strawberry stands to chime with nearly half of cereal and snack bar users who prefer bars with more adventurous flavours and ingredients.
- A high-quality proposition continues to provide opportunities in spite of the recession, as nearly two in five (37%) cereal and snack bar users report they often buy more expensive bars with quality ingredients.
- Polishing their value credentials could increase the appeal of cereal and snack bars among the three in five non-users who view them as expensive compared to other snacks.
- While few cereal and snack bars highlight themselves as filling, this could help brands differentiate themselves among the 16-24-year-olds. 71% of the age group eat cereal and snack bars, four in five of those choosing the bars as a filling snack.
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