About Granola Bars
The rising adoption of a healthy snack in a regular routine among individuals is a major factor expected to boost the demand for granola bars and drives the growth of the global granola bar market. The granola is breakfast nourishment and nibbles sustenance comprising of nuts, rolled oats, nectar or different sweeteners, such as, dark sugar, and puffed rice, which is heated until it is fresh and toasted. A granola bar is a type of snack made with a mixture of granola, nuts, dry fruits, and sweeteners. Consumption of granola bar boosts the individual’s calorie intake and provides energy to the body. Granola Bars manufacturers are likely to benefit from this trend as health benefits are one of the factors due to which consumers purchase cereals.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 5.1% |
Regional players have a competitive edge over bigger brands with their strong and robust local distribution networks. Regional manufacturers are targeting not only Kirana stores but also using multilevel and consumer-to-consumer marketing approaches to deepen their market penetration. The players operating in the granola bars market are following integrated marketing communication using various modes of advertisement such as newspapers, magazines, and social media among others to promote granola bars. Such channels play an active role in creating awareness about granola bars regarding their benefits. Additionally, several players are also promoting granola bars with regards to the new flavors and the ingredients that are used in granola bars that will have a positive effect on the consumers. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Granola Bars market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Mills, Inc. (United States), The Kellogg Company (United States), PepsiCo, Inc. (United States), Clif Bar & Company (United States), Oriole Healthy Food (United States), Kellogg (United States), Bagrrys India Limited(India), Marico Limited (India), Post Holdings, Inc. (United States) and TreeHouse Foods, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Patanjali Ayurved (India), Mohan Meakin (India), eVitamins India, Numix (India), Nourish Vitals (India), Munchilicious (India), Cocosutra (India), Natures Basket Limited. (India), Nourish Organic Foods Pvt Ltd. (India) and Addicted (India).
Segmentation Overview
AMA Research has segmented the market of Global Granola Bars market by Type (Organic and Non-Organic) and Region.
On the basis of geography, the market of Granola Bars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Convenience Stores will boost the Granola Bars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Flavors, the sub-segment i.e. Fruit Flavors will boost the Granola Bars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Rolled Oats will boost the Granola Bars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing health consciousness and raising awareness about various diseases and digestive problems and The increasing influence of westernization on food habits of the middle-class population
Market Growth Drivers:
The rising demand for gluten-free food products and Increasing consumer shift towards healthy breakfast alternatives having low-fat and low-sugar in the end products
Challenges:
The Stringent government regulation in food products
Restraints:
Low awareness of granola bars in the developing and underdeveloped countries
Opportunities:
Product and packaging innovation are some of the factors that would ensure smooth growth of the granola bars market and Expansion in the retail channel create the opportunities
Market Leaders and their expansionary development strategies
In February 2023, ITC will acquire 100 per cent of Yoga Bar’s parent company Sproutlife Foods (SFPL) over a period of 3 to 4 years. The company said that it will acquire 47.5 per cent stake in SFPL, in tranches, by March 31, 2025. ITC will Invest March 31, 2025. ITC will Invest Rs 175 crore for the acquisition of 39.4 percent Stake.
In March 2023, Bagrrys has announced the launch of “The Mighty Muesli Bars”, the launch of Bagrry’s Mighty Muesli Bars they have re-entered the Cereal Bar space. The energy-infused “Mighty Muesli Bars” come in three varieties like Choco Nut Delight, Signature Crunch and Fruits, Nuts & Seeds.
Key Target Audience
Granola Bars Manufacturer, Distributors, Suppliers, Government Regulatory Bodies, Private Reaserch Orgnization, Government Research Orgnizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.