The Global Granola Market size was valued at USD 8.9 Billion in 2022 and is expected to surpass USD 11.61 Billion by 2031, expanding at a CAGR of 3% during the forecast period, 2023 – 2031. Granola bars are a type of delicious baked snack made from a diverse variety of dried fruits, honey, cereals, puffed rice, and several other components.
Granola bars are convenient to transport and use by customers who participate in outdoor activities. They are sometimes combined with other foods such as ice creams, pastries, and yoghurt bars because they include critical elements including proteins, vitamins, and minerals that are ingested in the middle of meals. Consumers regard granola as a preferable source of proteins, vitamins, and fiber.
Granola Market Trends, Drivers, Restraints, and Opportunities
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Consumers growing knowledge of the necessity of eating healthy foods is expected to enhance granola demand and propel the granola market.
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Availability of different types of granola products and rising demand for granola bar among consumers are expected to drive the market.
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Granola includes an excessive number of calories and sugars, it has been linked to obesity, type 2 diabetes, heart disease, and some malignancies, which are anticipated to hinder the granola market.
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Granola bars are considered a trending industry, with numerous franchisers building stores and offering a broad variety of granola bars, which drives the granola bars market.
Scope of Granola Market Report
The report on granola market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Granola Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Baked Goods, Trail mix, Cereal, Bar, and Fruit Crisps), Origin (Conventional and Organic), Distribution Channels (Online Stores, Supermarket/Hypermarket, Specialty Stores, Convenience Stores, and Other Retail Formats)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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PepsiCo Inc.; The Kellogg Company; The Quaker Oats Company Inc.; Noble Foods Ltd.; Bakery Barn Inc; Olympia Granola Inc; Clif Bar & Company; Sunny Crunch Foods Ltd; Nestle S.A.; Kraft Foods Group Inc.; Conagra Brands Inc.; Hearthside Food Solutions LLC; Slim Fast Nutritional Food LLC; Bridgetown Natural Food; Nature Valley; and Standard Functional Foods Group Inc.
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Granola Market Segment Insights
The bar segment is projected to hold significant market share
In terms of product types, the granola market can be categorized into baked goods, trail mix, cereal, bar, and fruit crisps. The bar segment held a considerable market share in 2020. Granola bar is made by pressing granola mixed with honey or artificial syrup and baking it in a bar, which is convenient for light meals on the go. Granola Bar is packaged in a sealed pouch to keep it fresh and easy to handle for later consumption.
The organic segment held substantial market share in 2020
Based on origin, the granola market can be bifurcated into conventional & organic. The organic segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. As organic products are considered healthier and purer, increasing consumer acceptance of organic label products is expected to support segment during the forecast period.
The supermarket/hypermarket segment to grow during the forecast period
Based on distribution channels, the market can be segregated into online stores, supermarket/hypermarket, specialty stores, convenience stores, and other retail formats. The supermarket/hypermarket segment is expected to hold a significant share of the market during the forecast period.
North America to dominated the global market in 2020
In terms of regions, the granola market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a significant share of the market in 2020 due to availability of different types of granola products and increasing daily consumption of granola for breakfast.
Segments
The granola market has been categorized on the basis of
Product Types
- Baked Goods
- Trail mix
- Cereal
- Bar
- Fruit crisps
Origin
Distribution Channels
- Online Stores
- Supermarket/Hypermarket
- Specialty Stores
- Convenience Stores
- Other Retail Formats
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
- PepsiCo Inc.
- The Kellogg Company
- The Quaker Oats Company Inc.
- Noble Foods Ltd.
- Bakery Barn Inc
- Olympia Granola Inc
- Clif Bar & Company
- Sunny Crunch Foods Ltd
- Nestle S.A.
- Kraft Foods Group Inc.
- Conagra Brands Inc.
- Hearthside Food Solutions LLC
- Slim Fast Nutritional Food LLC
- Bridgetown Natural Food
- Nature Valley
- Standard Functional Foods Group Inc.
Competitive Landscape
Key players in the granola market include PepsiCo Inc.; The Kellogg Company; The Quaker Oats Company Inc.; Noble Foods Ltd.; Bakery Barn Inc; Olympia Granola Inc; Clif Bar & Company; Sunny Crunch Foods Ltd; Nestle S.A.; Kraft Foods Group Inc.; Conagra Brands Inc.; Hearthside Food Solutions LLC; Slim Fast Nutritional Food LLC; Bridgetown Natural Food; Nature Valley; and Standard Functional Foods Group Inc. These players are engaged in mergers, acquisitions, collaborations, agreements, and partnerships to strengthen their geographic presence.
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