Granola Market is on Track for Substantial Expansion at CAGR 4.5%, Value to Reach USD 12.6 Billion by 2032
Acumen Research and Consulting recently published report titled “Granola Market Forecast, 2023 – 2032”
NEW YORK, Aug. 28, 2023 (GLOBE NEWSWIRE) — The Granola Market is driven by escalating demand for nutritious breakfast options, evolving consumer lifestyles, a growing preference for organic snacks, and a surge in global product introductions.
The Granola Market prospects remain optimistic, propelled by increasing interest in wholesome breakfast choices, dynamic shifts in consumer routines, a rising affinity for organic snack alternatives, and an uptick in product unveilings. This comprehensive article offers an exhaustive analysis of the granola market, encompassing dimensions such as size, share, latest trends, catalysts, impediments, and pivotal enterprises. Granola, a cereal composition of rolled oats, nuts, and honey, is often complemented with sugar or maple syrup and may feature dried fruits, seeds, or chocolate chips. Its consumption as a breakfast item or snack is customary. Granola, whether enjoyed dry, with milk, or yogurt, is rich in fiber, protein, vitamins, and minerals such as magnesium, phosphorus, and manganese. As a healthful and delectable snack or breakfast choice, granola can be conveniently crafted at home to suit individual preferences.
Granola Market Statistics and Highlights:
- The Granola Market is poised to ascend to USD 12.6 billion by 2032 from its present value of USD 8.2 billion in 2022, surging at a 4.5% CAGR from 2023 to 2032.
- North America secured the dominant revenue share, surpassing USD 3.7 billion in 2022.
- Supermarkets/hypermarkets constituted over 52% of the distribution channel share in 2022.
- The market’s advancement is primarily buoyed by a burgeoning health-consciousness trend among consumers.
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Granola Market Report Coverage:
| Market | Granola Market | |
| Granola Market Size 2022 | USD 8.2 Billion | |
| Granola Market Forecast 2032 | USD 12.6 Billion | |
| Granola Market CAGR During 2023 – 2032 | 4.5% | |
| Granola Market Analysis Period | 2020 – 2032 | |
| Granola Market Base Year | 2022 | |
| Granola Market Forecast Data | 2023 – 2032 | |
| Segments Covered | By Product Type, By Flavor, By Origin, By Distribution Channel, And By Geography | |
| Granola Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Clif Bar & Company, Conagra Brands, Inc., General Mills, Inc., Kellogg Company, Kraft Foods Group, Inc., Nestle S.A., Slim Fast Nutritional Food LLC, Sunny Crunch Foods Ltd., The Quaker Oats Company, Inc., and Standard Functional Foods Group, Inc. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Granola Market Key Dynamics Analysis:
The forthcoming years hold promising growth potential for the granola market, propelled by the escalating demand for wholesome and convenient breakfast selections. Millennials and Generation Z cohorts are particularly drawn to granola due to its nutritional richness and satisfying attributes, rendering it an ideal way to kickstart their days. Manufacturers are innovatively experimenting with new flavors and formulations to resonate with these consumers. Concurrently, they’re expanding distribution channels to broaden granola’s accessibility. Nonetheless, challenges loom, encompassing competition from alternative breakfast items, notable sugar content in specific granola offerings, and escalating raw material costs. Despite these hurdles, the granola market is poised for sustained growth. Prominent industry players encompass General Mills, Kellogg’s, Post Holdings, Nature’s Path Foods, and Quaker Oats.
Latest Innovations and Trends:
Innovations are driving the development of low-calorie, low-sugar granola variants. A proliferation of inventive flavors—like blueberry-acai, dark chocolate, and matcha—enriches the granola landscape. Embracing vegan, gluten-free, and organic formulations caters to diverse preferences. Granola-inspired trail mixes and smoothies resonate with active consumers. Exploring alternative grains such as quinoa, amaranth, buckwheat, and millet adds further dimension to the industry’s innovation efforts.
Major Factors Driving Granola Market Growth:
The ascent of global demand for healthy, satiating, and on-the-go breakfast choices drives the market’s trajectory. Evolving consumer lifestyles necessitate convenient nutritional solutions. A growing affinity for organic and clean-label snacks contributes to the sector’s expansion. Broadened retail distribution channels and increased product availability further bolster growth. Eminent food and beverage companies’ amplified product launches constitute an additional driving force.
Key Challenges Hindering Market Potential:
Granola faces competition from rival breakfast options such as oatmeal and cereals. Elevated sugar content in select mainstream granola offerings poses a challenge. Fluctuating prices of nuts and dried fruits influence profit margins. Perceived as a premium-priced item, granola might face limitations in purchase frequency. Shelf-life limitations relative to conventional breakfast options present another hurdle.
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Granola Market Segmentation:
Product Types:
- Bars
- Cereals
- Baked Goods
- Trail Mix
- Fruit Cups
Granola Flavors:
- Vanilla
- Chocolate
- Strawberry
- Banana
- Coconut
- Others
Granola Origins:
- Conventional
- Organic
Granola Distribution Channels:
- Supermarkets and Hypermarkets
- Online Stores
- Convenience Stores
Granola Market Regional Outlook:
North America currently spearheads the global granola market, largely attributed to substantial consumption in the U.S. During 2023-2032, the Asia Pacific region is poised for rapid growth due to shifting lifestyles and heightened health consciousness. Meanwhile, Europe’s market is set to witness steady expansion.
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Leading Companies Offering Granola Market:
Prominent industry players encompass General Mills, PepsiCo, The Hain Celestial Group, Kellogg, Clif Bar & Company, Hearthside Food Solutions LLC, 18 RABBITS, Mars, Incorporated, Mondelēz International, Post Consumer Brands, Nature’s Path Foods, and Bob’s Red Mill Natural Foods, among others.
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