The granola bar market size was valued at $ 6.12 billion in 2022 and is expected to reach $ 9.94 billion by 2032, registering a CAGR of 5.1% from 2023 to 2032.
Granola is a breakfast and snack food made of nuts, rolled oats, nectar or other sweeteners, such as dark sugar, and puffed rice that is heated until it gets warm and toasty. To maintain a free breakfast oat consistency, the mixture is combined. Dried organic products, such as raisins and dates, as well as treats, such as chocolate, are occasionally included. Granola is frequently used to improve processing, particularly when it contains flax seeds. It is commonly consumed with yoghurt, nectar, crisp organic produce (such as bananas, strawberries, or blueberries), grain, or various varieties of oats.
Increase in adoption of nutritious snacks as part of daily routine is a major driver projected to enhance granola bar demand and propel the global granola bars market forward. Another factor projected to drive demand and growth of the global market is people's preference for gluten-free foods as they become more aware of digestive issues and celiac disease. The expansion of the target market is fueled by an increase in the number of people who follow a vegan diet, as well as the launch of vegan granola bars by manufacturers.
Moreover, during celebrations and festival events, people have started consuming nutrient-dense snacks comprised of chocolate, peanut butter, caramel, and milk. Thus, increased global participation in different events & festivals led to significant revenue generation. The granola bars market demand has further increased as a result of growth in acceptance of pre-packaged on-the-go snacks.
Convenience stores frequently offer granola bars in addition to other food & shopping items. As a result, the expansion of the retail sector has provided granola bars a boost. Rise in the consumption of these snacks for boosting energy was brought on by the proliferation of wellness & fitness facilities as well as exercise parks. Moreover, it is simpler for consumers to evaluate and select food items with suitable ingredients from a variety of other granola bars. In addition, it is anticipated that expanding marketing and communication techniques for such products on various television and digital media will significantly boost granola bars industry revenue generation throughout the forecast period.
In addition to competition from other snack categories, the granola bars market is extremely competitive. The working population, sportsmen seeking to maximize energy for training, and cereal bar enthusiasts are the main consumers of granola bars as on-the-go snacks. But there are plenty of options available to consumers, and there is a strong risk of substitutes in the global granola bar industry. Instead of granola bars, consumers still prefer frozen yogurt, protein shakes, cakes, chocolate confections, and potato chips - especially in developing nations such as India. Though nutritional value of these substitutes is low, they still offer strong competition to granola bars.
Furthermore, transparency and clear labelling will probably remain priorities in the granola bar industry. Customers want to know how and what ingredients are in the food they eat. The consumers are becoming aware of the ingredients used in the products and buy the supplement products accordingly. According to the National Institutes of Health 2023, proper supplementation of lutein, zinc, and omega-3 fatty acids, calcium, vitamin D, and magnesium helps to reduce the health issues among consumers. The manufacturers are catering to this demand by launching and offering dietary supplements in the market. Thus, a rise in the demand for supplements in the granola bars products is expected to augment the demand for granola bars market.
The granola bars market is segmented on the basis of product type, distribution channel and region. By product type, the market is divided into organic and convectional. By distribution channel, the market is segmented into supermarkets/hypermarkets, departmental stores, convenience stores, online sales channel, others. Region-wise, the market is analysed across North America (the U.S., Canada, and Mexico), Europe (the Germany, UK, , France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, South Korea, and the rest of Asia-Pacific), and Latin America (Brazil, Colombia, Argentina, Rest of Latin America) MEA ( GCC, South Africa, rest of MEA).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their reputation in the ever-competitive market. Some of the key players in the granola bars market include John B. Sanfilippo & Son, Inc., General Mills, Inc., Kellogg Co., Mars Inc, The Hershey Company, Earnest Eats, PepsiCo, Bakery Barn INC and Olympia Granola..
Granola is a breakfast and snack food made of nuts, rolled oats, nectar or other sweeteners, such as dark sugar, and puffed rice that is heated until it gets warm and toasty. To maintain a free breakfast oat consistency, the mixture is combined. Dried organic products, such as raisins and dates, as well as treats, such as chocolate, are occasionally included. Granola is frequently used to improve processing, particularly when it contains flax seeds. It is commonly consumed with yoghurt, nectar, crisp organic produce (such as bananas, strawberries, or blueberries), grain, or various varieties of oats.
Increase in adoption of nutritious snacks as part of daily routine is a major driver projected to enhance granola bar demand and propel the global granola bars market forward. Another factor projected to drive demand and growth of the global market is people's preference for gluten-free foods as they become more aware of digestive issues and celiac disease. The expansion of the target market is fueled by an increase in the number of people who follow a vegan diet, as well as the launch of vegan granola bars by manufacturers.
Moreover, during celebrations and festival events, people have started consuming nutrient-dense snacks comprised of chocolate, peanut butter, caramel, and milk. Thus, increased global participation in different events & festivals led to significant revenue generation. The granola bars market demand has further increased as a result of growth in acceptance of pre-packaged on-the-go snacks.
Convenience stores frequently offer granola bars in addition to other food & shopping items. As a result, the expansion of the retail sector has provided granola bars a boost. Rise in the consumption of these snacks for boosting energy was brought on by the proliferation of wellness & fitness facilities as well as exercise parks. Moreover, it is simpler for consumers to evaluate and select food items with suitable ingredients from a variety of other granola bars. In addition, it is anticipated that expanding marketing and communication techniques for such products on various television and digital media will significantly boost granola bars industry revenue generation throughout the forecast period.
In addition to competition from other snack categories, the granola bars market is extremely competitive. The working population, sportsmen seeking to maximize energy for training, and cereal bar enthusiasts are the main consumers of granola bars as on-the-go snacks. But there are plenty of options available to consumers, and there is a strong risk of substitutes in the global granola bar industry. Instead of granola bars, consumers still prefer frozen yogurt, protein shakes, cakes, chocolate confections, and potato chips - especially in developing nations such as India. Though nutritional value of these substitutes is low, they still offer strong competition to granola bars.
Furthermore, transparency and clear labelling will probably remain priorities in the granola bar industry. Customers want to know how and what ingredients are in the food they eat. The consumers are becoming aware of the ingredients used in the products and buy the supplement products accordingly. According to the National Institutes of Health 2023, proper supplementation of lutein, zinc, and omega-3 fatty acids, calcium, vitamin D, and magnesium helps to reduce the health issues among consumers. The manufacturers are catering to this demand by launching and offering dietary supplements in the market. Thus, a rise in the demand for supplements in the granola bars products is expected to augment the demand for granola bars market.
The granola bars market is segmented on the basis of product type, distribution channel and region. By product type, the market is divided into organic and convectional. By distribution channel, the market is segmented into supermarkets/hypermarkets, departmental stores, convenience stores, online sales channel, others. Region-wise, the market is analysed across North America (the U.S., Canada, and Mexico), Europe (the Germany, UK, , France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, South Korea, and the rest of Asia-Pacific), and Latin America (Brazil, Colombia, Argentina, Rest of Latin America) MEA ( GCC, South Africa, rest of MEA).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their reputation in the ever-competitive market. Some of the key players in the granola bars market include John B. Sanfilippo & Son, Inc., General Mills, Inc., Kellogg Co., Mars Inc, The Hershey Company, Earnest Eats, PepsiCo, Bakery Barn INC and Olympia Granola..
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the granola bars market analysis from 2022 to 2032 to identify the prevailing granola bars market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the granola bars market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global granola bars market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product Type
- Organic
- Conventional
By Distribution Channel
- Supermarket/Hypermarket
- Departmental Stores
- Convenience Stores
- Online Sales Channel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Colombia
- Argentina
- Rest of Latin America
- Middle East and Africa
- Gcc
- South Africa
- Rest of Middle East And Africa
Key Market Players
- John B. Sanfilippo & Son, Inc.
- General Mills, Inc.
- Kellogg Co.
- Mars Inc,
- The Hershey Company
- Earnest Eats
- PepsiCo
- Bakery Barn INC
- Olympia Granola
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GRANOLA BARS MARKET, BY PRODUCT TYPE
CHAPTER 5: GRANOLA BARS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: GRANOLA BARS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- John B. Sanfilippo & Son, Inc.
- General Mills, Inc.
- Kellogg Co.
- Mars Inc,
- The Hershey Company
- Earnest Eats
- PepsiCo
- Bakery Barn INC
- Olympia Granola
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 6.12 billion |
| Forecasted Market Value ( USD | $ 9.94 billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
