Expanding health and wellness industry projected to boost the growth of Granola Market

Market Overview:
Granola is a breakfast cereal made from oats, nuts, honey or other sweeteners and spices baked into clusters or bars. Granola is versatile and easy to store, which makes it a perfect grab-and-go breakfast option. It provides adequate source of protein, vitamins, dietary fiber and other essential nutrients. Granola can be eaten plain or mixed with milk, yogurt or fruits. Its crunchy texture and pleasant taste have made it popular among health-conscious consumers.

Market key trends:
The increasing health consciousness among individuals has led to rising demand for nutritious food products. Granola is gaining popularity due to its nutritional profile and various health benefits. It is low in calories, sodium and contains no cholesterol. Granola is high in fiber, which helps regulate bowel movements and maintain digestive health. Additionally, it is a good source of antioxidants that can protect cells from damage. The expanding wellness industry trends like clean label and organic products are expected to propel the growth of organic and natural granola market over the forecast period. Rapid urbanization and evolving consumers snacking habits are also contributing to the market growth.
Porter’s Analysis

Threat of new entrants: Low. The Global Granola Market requires large capital investments to manufacture products at competitive prices and scale. Brand loyalty also acts as a barrier.

Bargaining power of buyers: High. Buyers have multiple choices across private label and branded options. They can negotiate on price and switch brands easily.

Bargaining power of suppliers: Moderate. Key raw materials like oats and nuts are abundantly available. However, procuring organic and premium quality inputs require developing long-term relationships.

Threat of new substitutes: Moderate. Granola faces competition from muesli, breakfast cereals, energy bars and snacks. However, granola has established itself as a healthier snack option.

Competitive rivalry: High. The market is dominated by global giants and private label players. Companies compete based on innovations, flavors, marketing and competitive pricing.

Key Takeaways

The global granola market size is expected to reach US$ 5,295.6 Mn by 2030, expanding at a CAGR of 4.5% during the forecast period. Rising health consciousness among consumers and changing lifestyles are driving the consumption of granola as a nutritious snack. North America accounts for the largest share in the global granola market owing to high awareness about benefits of dietary fibers and growing adoption of healthy breakfast routines in the region.

The granola market in Asia Pacific is anticipated to witness the fastest growth over the next few years triggered by growing economies, increasing spending power and expanding retail landscape in countries such as India and China. Major players operating in the granola market are Kellogg Corners, Kraft Foods Inc., Sunnycrunch, ConAgra foods, Clif Bar & Co., and General Mills. These companies occupy a significant share in the market and compete on the basis of product innovations, flavors and aggressive marketing strategies.

Key players operating in the granola market are Kellogg Corners, Kraft Foods Inc., Sunnycrunch, ConAgra foods, Clif Bar & Co, and General Mills. These companies introduce new flavors and variants to appeal to the diverse tastes of health-conscious consumers.

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