
Granola Market Product Type Analysis (Cereal, Bar, Baked Goods, Other), Flavor Analysis (Classic Vanilla , Exotic Chocolate, Strawberry, Other), Distribution Channel (Supermarkets and Hypermarkets, Convenient Stores, Other), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032
-
6001
-
May 2023
-
183
-
-
This report was compiled by Shreyas Rokade Shreyas Rokade is a seasoned Research Analyst with CMFE, bringing extensive expertise in market research and consulting, with a strong background in Chemical Engineering. Correspondence Team Lead-CMFE Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
-
Quick Navigation
Report Overview
Granola Market size is expected to be worth around USD 11.9 Bn by 2032 from USD 8.9 Bn in 2022, growing at a CAGR of 3.0% during the forecast period from 2023 to 2032.
The granola market is a thriving sector within the cereal industry, characterized by its combination of whole grains, primarily oats, mixed with nuts, seeds, and dried fruits. This nutritious and versatile snack has gained popularity, particularly among health-conscious consumers, driving substantial growth in the market.
Within the granola market, various stakeholders, including suppliers, manufacturers, and consumers, actively participate in the exchange of goods. They contribute to fulfilling the demand for wholesome breakfast and snack options while also creating economic opportunities within the granola supply chain.
Granola offers several health benefits, such as cholesterol and blood sugar level control, and it is often considered a suitable option for those looking to manage their weight. Its convenience and appealing taste make it a popular choice for people with busy lifestyles. The granola market has positioned itself as a reliable source of nourishment and convenience for consumers.
Innovation has been a key driver in the granola market. Gluten-free and vegan alternatives have emerged, diversifying the range of products available. Granola bars and snack packs have gained significant popularity as quick and convenient nourishment options for people on the go.
Major Key players in the food industry have recognized the potential of the granola Industry and have introduced their own granola product lines. Granola has also found its way into various culinary domains, complementing items like smoothie bowls, yogurts, and energy bars, enhancing its appeal.
The granola business potential has attracted interest from various industries, including food production, hospitality, and recreation. These sectors are actively investing in research and development to introduce innovative granola products to meet the evolving preferences of consumers.
Driving factors
- Millennials and emerging markets significantly contribute to granola's growing demand, emphasizing healthier dietary choices. Granola's allure, especially in developing countries, presents it as a fresh, health-centric alternative.
- A surge in health awareness propels granola's market growth. As the importance of nutritious eating takes center stage, granola, laden with fiber, protein, and vital nutrients, emerges as a top choice for health-driven consumers.
- The rising preference for vegan and organic offerings fuels granola's market expansion. Heightened cognizance of environmental implications and concerns about chemicals in food production bolster the demand for organic and vegan granola variants.
- A spike in food allergies underpins the surge in granola consumption. The escalating number of individuals with food sensitivities necessitates a demand for gluten-free and nut-free granola, expanding its product range.
- The prevailing snacking trend enhances granola's market reach. The intersection of hectic lifestyles and the quest for healthful, portable sustenance options catapults granola bars and bites to the forefront of on-the-go refreshments.
Restraining Factors
- Elevated and inconsistent raw material prices, like grains, nuts, and sweeteners, are a predominant challenge for the granola market. Such variability inflates production costs, subsequently pushing up granola bar prices, diminishing demand, and intensifying competitive pressures. Market participants might contemplate in-house raw material production or strategic supplier partnerships to attain cost efficiencies.
- The granola bar sector's reliance on volatile raw material prices, influenced by factors such as climatic shifts, trade policies, and global economic trends, is undeniable. These unpredictable pricing shifts weigh heavily on operational costs, posing persistent threats to profitability.
- Global governmental regulations impose stringent standards on the granola market. Numerous food safety rules dictate the operations of granola bar producers, often presenting intricate compliance challenges. Disparate international norms further complicate this regulatory maze.
Product Type Analysis
The granola market is one of the convenience food industry's fastest-growing segments. Granola bars are the ideal solution to satisfy the growing demand for convenient, healthy on-the-go options from consumers. More than sixty percent of the granola market is dominated by the bar segment. This emphasizes the importance of the bar segment of the granola market and its development potential.
The economic growth of emerging economies is a significant factor driving the adoption of the bar segment in the granola market. There is a growing demand for quick and healthy snacks that can be consumed while on the go as more people in emerging economies progress toward urbanization and a busier lifestyle. This demand is precisely met by the bar segment of the granola market, which is growing in popularity in these regions.
Consumer trends and behaviors are changing, which can be attributed to consumers' increasing adoption of the bar segment. Consumers are seeking snacks that are low in calories, high in fiber, and provide sustained energy throughout the day. The bar segment of the granola market offers all of these advantages, making it a desirable option for health-conscious consumers.
Due to a number of factors, it is anticipated that the bar segment of the granola market will register the highest growth rate over the coming years. Firstly, the increasing adoption of an urban lifestyle and hectic work schedules is driving the demand for convenient, portable snacks. Secondly, the increasing health consciousness of consumers is leading them to choose healthier refreshment options, and the bar segment is ideally suited to meet this demand.
Flavor Analysis
The flavor of granola bars is a crucial component of the product and has a substantial influence on consumer preferences. The classic Vanilla flavor and the more exotic Chocolate segment dominate the granola market, highlighting the importance of these flavors to consumers.
The growth of emerging economies is driving the adoption of classic Vanilla flavors over more exotic Chocolate flavors in the granola market. As consumers in emerging economies become more familiar with international flavors and preferences, they opt for exotic flavors like chocolate in their snack selections. In addition, the classic vanilla flavor is a time-honored favorite and a globally popular option among consumers.
Classic Vanilla and exotic Chocolate flavors' growing adoption in the granola market can be attributed to shifting consumer preferences and habits. Consumers seek snacks that not only provide health advantages but also cater to their evolving tastes and preferences. They are not reluctant to experiment with new flavors and ingredients. The classic Vanilla flavor and the more exotic Chocolate segment provide consumers with a variety of taste options, making them appealing choices.
Due to a number of factors, the Classic Vanilla to More Exotic Chocolate flavor segment of the granola market is anticipated to register the highest growth rate in the coming years. The increasing health consciousness of consumers is leading them to choose healthier snack options, and the granola bar market segment offers a healthy, delectable, and convenient option.
Key Market Segments
Product Type Analysis
- Cereal
- Bar
- Baked Goods
- Trail mix
- Fruit crisps
Flavor Analysis
- Classic Vanilla
- Exotic Chocolate
- Strawberry
- Banana
- Coconut
Distribution Channel
- Supermarkets and Hypermarkets
- Convenient Stores
- Online Stores
Growth Opportunity
Granola Bars a Healthy and Convenient Snack
Granola bars have become a popular on-the-go snack option for people seeking a fast and convenient source of nutrition. Granola bars have become a popular snack for health-conscious consumers due to their nuts, grains, high protein content, and fiber. The growing demand for healthy and convenient snack options has led to the expansion of the granola market, with manufacturers competing to offer a wide range of flavors and customization options to attract customers.
Granola Market Expansion Driven by Health-Conscious Customers
In recent years, the granola market has experienced significant growth, as an increasing number of people choose granola bars as a healthful snack option. Granola bars are in high demand because they contain a variety of nutrients that are necessary for a healthy diet, which is driven by consumers' attention to health and wellness. Moreover, the increasing popularity of on-the-go lifestyles has led to an increased demand for portable and convenient snack options, which has contributed to the growth of the granola market.
Granola Bars Customizable & Delicious Snack
Granola bars come in a variety of flavors, making them a top choice for people with varying palates. Companies are continually innovating in order to provide distinct flavors that appeal to various customer segments. Additionally, customizations, such as the ability to select the desired combination of nuts and seeds, have increased the desirability of granola bars among customers.
Granola Bars Emphasize Sustainability and Natural Components
The growth of the granola market has been driven not only by shifting consumer preferences but also by the adoption of sustainable and ethical business practices. Numerous manufacturers have begun to prioritize sustainable packaging and ethical procurement of ingredients. Companies have also begun removing artificial ingredients, high-fructose corn syrup, and flavorings from their products in order to appeal to consumers seeking natural and organic options.
Granola Market's Promising Future Health, Convenience, and Innovation
Experts predict that the granola market will continue to expand in the future years, which bodes well for its growth prospects. As consumers become increasingly health-conscious and continue to place a premium on wellness and convenience, the granola market will continue to experience innovation and expansion. Manufacturers are expected to introduce new flavors, customization options, and packaging innovations in order to satisfy consumer demands.
Latest Trends
Changing Trends
For many years, granola bars have been a popular snack option for people all over the globe. However, with the rise of veganism and consumer demand for plant-based options, the market trends for granola bars are shifting rapidly. Also increasing is the demand for eco-friendly packaging and ethical sourcing.
Meeting Vegan Demands
Veganism has been on the rise for a number of years, with an increasing number of people adopting this lifestyle. This trend places significant pressure on food companies to adapt and offer plant-based options. Consequently, the market for vegan granola bars is expanding rapidly.
Convenient & Nutritious
As demand for vegan options continues to rise, granola bar manufacturers are adapting to meet it. The vegan granola market now offers a wide variety of options. These bars are made with plant-based ingredients, such as nuts, seeds, and dried fruit, making them a nutritious and healthy option for a snack.
Nature Valley as well as Earnest Eats
Today's hectic circumstances have made convenience a top priority for many people. People desire convenient, healthy, and satiating snack options. Here, granola bars enter into play. They are ideal for a snack on the go and are nutrient-dense. As more consumers pursue plant-based options, the granola market offers a convenient and healthy snack option.
Growing Market
Nature Valley and Earnest Eats are two popular brands of granola bars that offer a variety of vegan options. The Nature Valley granola bars are made with natural, simple ingredients and do not contain any artificial flavors or colors. They offer a variety of vegan flavors, such as Maple Brown Sugar, Peanut Butter, and Oats & Honey. Earnest Eats offers gluten-free and Non-GMO Project-verified vegan granola bars.
Regional Analysis
North America's consistent growth and sustained demand across multiple industries make it the top performer with a predicted revenue share increase in the next years. Its distinctive economic landscape, advanced technological uptake, and robust regulatory framework make it an attractive place for worldwide businesses.
North America's largest economy and worldwide superpower is the US. Its highly broad and sophisticated market makes it an attractive location for businesses to expand. The country's economic policies, including cheap lending rates, tax incentives, and friendly laws, make it appealing to startups and established businesses.
Canada, another North American giant, has a strong economy fueled by natural resources, skilled workers, and advanced technology. It's a diverse market with stable politics, attractive taxes, and a highly educated workforce. These qualities make it an attractive location for businesses expanding into new markets.
Due to its low labor costs and convenient location, Mexico attracts manufacturers, exporters, and service providers. The nation's membership in the North America Free Trade Agreement (NAFTA) and its strategic location between the US and Latin America make it a desirable choice for businesses looking to enter both markets.
North America's diverse industries generate its revenue share. The manufacturing industry is highly established in the area, producing consumer goods and high-tech equipment. The region's revenue comes from the service sector, including technology, healthcare, and banking.
Key Regions and Countries
North America
- US
- Canada
- Mexico
Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
Health-conscious people consume granola for breakfast. Whole grains, dried fruits, nuts, and other healthful components make it. The granola market has grown steadily in recent years, with several major players.
Kellogg's is one of the main granola market players. The company sells Special K and Kashi granola products under its brand name. Kellogg's leads the cereal sector after almost a century.
Nature's Path is another prominent player in the granola market. It's a Canadian company that produces organic, non-GMO granola, cereal, and oatmeal. Nature's Path has a strong environmental focus and dedicated customers for its products.
With its brand Nature Valley, General Mills is another significant player in the granola market. To satisfy the varied tastes of its customers, the company has created granola bars in three different varieties: Oat Clusters, Biscuits, and Granola Thins.
Clif Bar & Company is a well-known player in the granola market. The company uses high-quality, natural ingredients and has a strong presence in North America and Europe.
Top Key Players in Granola Market
- Sunny Crunch Foods Ltd.
- Kellogg Company
- General Mills, Inc.
- Kraft Foods Group, Inc.
- Conagra Brands, Inc.
- Nestlé S.A.
- Slim Fast Nutritional Food LLC
- Clif Bar & Company
- The Quaker Oats Company, Inc.
- Standard Functional Foods Group, Inc.
Recent Development
- In 2023, There will be a surge in the introduction of unique and exotic flavor combinations like matcha green tea, turmeric, lavender, and gingerbread.
- In 2022, A number of businesses launched online platforms or in-store options that let customers make their own unique granola mixtures by selecting ingredients, flavors, and add-ons.
- In 2021, There was a significant shift toward eco-friendly packaging materials like compostable pouches, recyclable paperboard cases, and reusable containers.
- In 2020, There will be a surge in the development of granola formulations that are functional and nutrient-dense.
- In 2019, The demand for plant-based and allergen-free food products, such as granola, has increased significantly over the past several years.
Report Scope:
Report Features Description Market Value (2022) USD 8.9 Bn Forecast Revenue (2032) USD 11.9 Bn CAGR (2023-2032) 3% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered Product Type Analysis (Cereal, Bar, Baked Goods, Trail mix, Fruit crisps), Flavor Analysis (Classic Vanilla , Exotic Chocolate, Strawberry, Banana, Coconut), Distribution Channel (Supermarkets and Hypermarkets, Convenient Stores, Online Stores) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Sunny Crunch Foods Ltd., Kellogg Company, General Mills, Inc., Kraft Foods Group, Inc., Conagra Brands, Inc., Nestlé S.A., Slim Fast Nutritional Food LLC, Clif Bar & Company, The Quaker Oats Company, Inc., Standard Functional Foods Group, Inc. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) -
-
- Sunny Crunch Foods Ltd.
- Kellogg Company
- General Mills, Inc.
- Kraft Foods Group, Inc.
- Conagra Brands, Inc.
- Nestlé S.A.
- Slim Fast Nutritional Food LLC
- Clif Bar & Company
- The Quaker Oats Company, Inc.
- Standard Functional Foods Group, Inc.