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| Global Granola Market |
The Granola Market is estimated to be valued at US$ 3,753.3 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Granola is a cereal made from oats, honey, nuts, puffed rice, and puffed quinoa
grains. It is very versatile and can be eaten as a snack or mixed with yogurt.
Granola comes in many flavors such as apple cinnamon, coconut, chocolate,
vanilla, etc. It is a popular alternative for breakfast as it is convenient and
easy to prepare. Granola also provides many health benefits as it is a good
source of fiber, protein, vitamins, and minerals. With the rising demand for
healthy on-the-go breakfast options, the granola market is growing
significantly.
Market Dynamics:
The demand for granola is driven by two main factors - changing lifestyles and
focus on health and wellness. Due to busy schedules, more people are opting for
quick and easy breakfast options like granola bars and granola cereals, which
is contributing to the growth of this market. Consumers are also becoming more
health-conscious and prefer food products that offer nutritional benefits.
Granola contains no artificial ingredients and is gluten-free. Therefore, it
caters to the needs of many health-focused customers. Furthermore, granola
tastes quite delicious when mixed with fruits and yogurt. The wide variety of
flavors and formats in which granola is available make it very appealing as
well. Innovations like organic, sugar-free and plant-based granola options are
further fueling market expansion over the forecast period.
Segment Analysis
The granola market is dominated by the organic sub-segment. The demand for
organic granola is rising significantly owing to increasing health
consciousness among consumers. Organic granola contains no preservatives,
artificial colors or flavors. It is made using organic grains, nuts and dried
fruits. Consumers are willing to pay premium prices for organic granola due to
associated health benefits.
PEST Analysis
Political: The Global
Granola Market is positively impacted by regulations supporting organic
and natural foods. Various government initiatives promote consumption of
healthy snacks.
Economic: Rising disposable incomes and changing lifestyles have increased
on-the-go breakfast consumption. Busy schedules leave lesser time for
home-cooked meals encouraging granola as a convenient snack.
Social: Health trends influencing food choices and focus on nutritional value
are driving demand. Granola is perceived as a healthy snack rich in fibers,
vitamins and minerals.
Technological: Advances in processing aid production of innovative granola
varieties. Technologies preserving nutrients during baking improve the
nutritional profile.
Key Takeaways
The global granola market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period,
due to increasing preference for healthy on-the-go snacks. North America
dominates the market owing to high awareness about health benefits. The U.S.
accounts for over 30% market share led by food innovations and busy lifestyles.
Changing dietary patterns and rising health consciousness in Asia Pacific is
fueling market growth at a rapid pace in the region.
Regional analysis
Europe is the second largest regional market for granola. Countries like
Germany, France and the U.K. are major consumers driven by vegan trends and
demand for gluten-free foods. Organic variants have strong demand owing to
environmental and sustainability priorities of European consumers.
Key players
Key players operating in the granola market are Kellogg Corners,Kraft Foods
Inc.,Sunnycrunch,ConAgra foods,Clif Bar & Coand,General Mills,Nestle,Nature
Valley,Slim-Fast Food Co. Kellogg dominates with its brands like Kellogg and
Kashi offering different granola flavors. General Mills entered into strategic
partnership with Barbara's Bakery LLC to further strengthen its presence.
Read More: https://www.rapidwebwire.com/granola-market-size-and-analysis/