Granola contains plenty of fiber, protein, vitamins, and minerals essential for maintaining overall health. The growing preference for nutritious yet convenient breakfast options has led to a surge in demand for granola around the world. In addition, the product's portability and long shelf life makes it an ideal breakfast choice for busy work schedules and on-the-go lifestyles.
The Global Granola Market is estimated to be valued at US$3.2 Billion in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Granola Market are Nature Valley, Kashi, Clif Bar, General Mills, and Quaker Oats.
The rising popularity of organic and non-GMO ingredients in plant-based food products has opened lucrative opportunities for granola manufacturers to expand their organic and vegan product lines. Additionally, the growing foodservice demand for healthier breakfast options from hotels, cafes, and restaurants also works in favor of the granola market.
North America currently dominates the Granola Market Demand. However, regions like Asia Pacific and Europe are predicted to witness rampant growth in the coming years. The increasing health consciousness and changing lifestyles in developing countries will majorly drive the demand for granola in these emerging markets.
Market Drivers
The rising demand for on-the-go breakfast snacks owing to fast-paced lifestyles is a key factor augmenting the granola market. Granola packs provide a wholesome yet convenient meal replacement for people who lack time for a traditional breakfast. Furthermore, increasing health trends like veganism, paleo, ketogenic diets have boosted the popularity of granola as a plant-based snack. The product's versatility for customization with flavors and mix-ins as per evolving tastes also supports its market growth.
PEST Analysis
Political: Regulatory bodies like FDA govern the ingredient standards and dietary guidelines for granola products in the market.
Economic: Increased disposable incomes and health consciousness among consumers is fueling the demand for granola which is considered a healthy breakfast option.
Social: On-the-go lifestyles and preference for snacks high in nutrition are driving more consumption of granola bars, clusters and other snacks. Social media marketing helps promote new product innovations in the market.
Technological: Automation in manufacturing helps lower costs while new techniques allow creation of granola products with custom textures, flavors and nutrition contents to match diverse consumer preferences.
The North American region holds the largest value share in the global granola market owing to high consumption rates and number of health-conscious consumers. The United States accounts for majority demand for granola products in North America led by breakfast cereals and snack bar applications.
Europe is also among the prominent regional markets led by countries like Germany, United Kingdom, France and Italy where changing diets and increasing awareness about nutritional benefits of granola drive its usage. However, the Asia Pacific region is expected to witness the fastest CAGR during the forecast period due to rising health awareness, westernization of diets and expansion of organized retail in countries like India and China. Manufacturers are focusing on these emerging economies for strengthening their global footprint in the years ahead.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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