Granola is a breakfast cereal made from rolled oats, nuts, honey and dried fruit. It is a convenient nutritional snack that provides carbohydrates, fiber, protein and other nutrients required for daily energy and well-being. With growing awareness about the benefits of plant-based whole foods in maintaining health and fitness levels, consumption of granola has surged substantially.
The global Granola Market is estimated to be valued at US$ 4323.92 billion in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The trend of health consciousness among consumers has significantly propelled the demand for granola over the past few years. Granola is perceived as a nourishing snack that provides sustained energy without much sugar. Moreover, it is gluten-free and contains no preservatives or artificial ingredients. With customers increasingly preferring healthy yet convenient food options, the market for granola has experienced augmented growth. According to recent surveys, over 60% of consumers report choosing granola due to its perceived benefits of supporting well-being and vitality. This strong consumer preference for granola as a healthy breakfast and snack alternative is expected to continue driving the market expansion over the forecast period.
SWOT Analysis
Strength: Global Granola Market Size is packed with nutrients, making it a healthy breakfast option. It provides various essential vitamins, minerals, and dietary fibers. Granola can be consumed as a snack anytime during the day.
Weakness: Granola has a higher calorie and sugar content than plain cereals. The nuts and dried fruits added to granola increase its calorie count. Frequent consumption of granola, without controlling portion size, can lead to weight gain.
Opportunity: There is growing demand for on-the-go, portable granola options due to changing lifestyles and busy schedules. Companies can launch single-serve, packed granola varieties to capitalize on this trend. The popularity of organic and all-natural foods provides opportunities to develop new granola products with a clean label.
Threats: The availability of various substitutes like muesli, oats, and healthy energy bars poses threats to the granola market. Shifting consumer preference towards low-sugar, artisanal, and flavorsome snacks is also a challenge. strict regulations governing food ingredients and labeling standards across regions can increase production costs.
Key Takeaways
The global granola market is expected to witness high growth over the forecast period of 2024 to 2031. The increasing health consciousness among consumers and the numerous health benefits associated with granola are driving the demand. The global Granola Market is estimated to be valued at US$ 4323.92 billion in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.
Regional analysis: North America currently dominates the global granola market due to high consumer awareness about nutrition and health attributes of granola. Changing lifestyles and increasing preference for breakfast meals with high nutritional value are expected to strengthen the market presence in Asia Pacific over the forecast period.
Key players: Key players operating in the granola industry include General Mills, Nature Valley, Milo’s Kitchen, Kashi, the Quaker Oats Company, Nestlé, Luna Bars, Big Y Foods, and McKee Foods. Leading companies focus on new product development and expansion through acquisitions to reinforce their market position. For example, Big Y Foods acquired Bear Pond Orchards in 2021 to strengthen its food manufacturing capabilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it