Granola is increasingly gaining popularity as a breakfast cereal among health-conscious consumers. Granola is made from rolled oats, nuts, honey or maple syrup, and sometimes dried fruits and spices that are baked together into clusters. It is popular for its nutritional profile and convenience as a grab-and-go breakfast. Granola provides fiber, protein, vitamins, and minerals to support digestive and heart health. The growing focus on nutrition and preventive healthcare is driving demand for plant-based and whole-grain alternatives to refined cereal options.
The Global Granola Market is estimated to be valued at US$ 2.3 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 General Mills, Quaker Oats Company, Kellogg's, Nature Valley, Sunbelt Bakery. Key players are focusing on developing new product lines with variety in flavors, textures and formats to appeal to diverse tastes. The growing demand for on-the-go nutrition is fueling the popularity of portable granola bar and bite formats. Technological advancements enable innovative processes for granola baking that enhance nutrient retention and shelf life while retaining the traditional texture.
Key opportunities in the market include expanding into emerging Asian and Latin American markets where awareness of western breakfast foods is rising. Growth of organic and clean label product segments present opportunities for premiumization. Technological developments enable new formats such as granola clusters without added sugars or fats that cater to the health-conscious segment.
Market drivers
The increasing health consciousness among consumers is a major market driver for granola. Granola Market Demand is seen as a wholesome alternative to sugary cereals and baked goods due to its high fiber and nutrient content from nuts and dried fruits. The growing popularity of snacking and on-the-go lifestyles is driving demand for grab-and-go granola bar formats. Rising disposable incomes in developing nations are increasing affordability of premium organic and specialty granola products.
The Granola Market is facing challenges of increasing raw material prices and supply chain disruptions. Prices of oats and nuts which are key ingredients in granola have seen a significant rise globally over the past year due to various factors like inflation, geopolitical tensions and climate change impacts. This has reduced margins for granola manufacturers.
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