April 21, 2024

Granola Market is Poised to Grow Due to Increasing Health and Wellness Awareness

It is known for being a more nutritious alternative to traditional cereals and is a good source of fiber, protein and essential vitamins and minerals. The snack bar and cereal bar segment is witnessing high demand for on-the-go, portable breakfast and snacking options. Granola can be easily incorporated into breakfast meals, smoothies, yogurt or eaten as is.

The global GLP-1 receptor agonist market is estimated to be valued at US$ 16,496.47 billion in 2024 and is expected to exhibit a CAGR of 17.0% over the forecast period of 2024-2031.


Key Takeaways

Key players operating in the Granola Market Size 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. The growing health consciousness and preference for nutritional food products present significant growth opportunities for granola manufacturers. Companies are investing in new product launches, marketing initiatives and expanding to international markets. The increasing availability of granola products through online retail platforms and in modern retail outlets like supermarkets and convenience stores is facilitating the global expansion of the granola market.

Market Drivers

The increasing awareness about the health benefits of granola such as regulating blood sugar levels, weight management, improving digestion and heart health is a major growth driver. Granola has emerged as a popular snack and breakfast option for health-conscious consumers. The busy lifestyles have led to the demand for portable, on-the-go breakfasts and snacks which granola bars and cereal fulfill. Manufacturers are innovating with new flavors, ingredients and packaging which attract diverse consumer segments.

PEST Analysis
Political: The granola market is affected by government regulations related to food and packaging. Recent regulations aim to reduce sugar content and portion sizes.

Economic: Changes in consumer spending patterns due to economic conditions influence demand for granola. Higher disposable income increases spending on healthier food options like granola.

Social: Rising health consciousness drives demand for nutrient-rich on-the-go breakfast options like granola. Busy lifestyles increase consumption of portable packaged foods. Social media influences trends towards natural and clean label foods.

Technological: Advances in food processing and packaging help manufacturers produce granola with longer shelf life and convenient packaging sizes. Marketing through digital platforms aids brand visibility and sales.

Geographical Regions of Concentrated Value
North America holds the largest share of the granola market in terms of value currently due to high per capita consumption in countries like the United States. The region has established sales networks for popular granola brands and health food retailers stocking a wide variety of granola products.

Fastest Growing Regional Market
The Asia Pacific region is forecast to witness the fastest growth in the granola market during the period due to rising health awareness and western influence on diets in developing countries. China, India and other Asian nations are experiencing economic development and shift towards more nutritional breakfast options, driving market expansion.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it