Granola is a crunchy cereal made from oats, nuts, honey, and sometimes dried fruit. Granola products are high in fiber, protein, and antioxidants. They provide a convenient and nutritious breakfast or snack option. The demand for granola is increasing globally due to rising health consciousness among consumers and growing preferences for organic and gluten-free food products.
The global Granola Market is estimated to be valued at US$ 3753.4 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the granola market size is the growing popularity of organic and gluten-free products. More consumers are switching to organic granola as they prefer food products made from non-GMO and chemical-free ingredients. According to the U.S. Organic Trade Association, organic food sales grew by 5.9% in 2019 to reach $47.9 billion. Similarly, the demand for gluten-free granola is rising rapidly amongst health-conscious consumers who suffer from celiac disease or gluten intolerance. Granola manufacturers are launching new product lines featuring organic and gluten-free formulations to capitalize on this fast-growing segment. This trend is expected to have a positive impact on granola market growth over the forecast period.
Segment Analysis
The global granola market is segmented based on type, distribution channel, and region. By type, the market is classified into oats, multigrain, and others. The oats segment dominates the market and accounts for over 30% market share. Oats are high in fiber and beta-glucan which promote heart health and control blood sugar levels.
Key Takeaways
The global granola market is expected to witness high growth over the forecast period. The market size for 2024 is US$ 3753.4 Mn which is projected to grow at a CAGR of 7.7% reaching a valuation of US$ 6309.5 Mn by 2030.
Regional analysis: North America accounts for the largest share of the global granola market. The demand for healthy snacks and breakfast items is high in the US and Canada accounting for over 40% market share. Changing lifestyle and growing health awareness have boosted the consumption of granola in the region.
Key players operating in the granola market are Piezo.com, Microchip Technology Inc., Cypress Semiconductor Corporation, EPeas SA, Texas Instruments Incorporated, EnoCean GmbH, STMicroelectronics NV, ABB Limited, Analog Devices Inc., Powercast Corporation, and Advanced Linear Devices Inc.
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