Granola Market

Granola Market Propelled by Growing Demand for Healthy and Nutritious Breakfast Options

by

Granola Market

 

Granola is a breakfast food made from rolled or pressed oats, nuts, seeds and honey or other sweeteners. It provides slow-releasing energy and nutrients to kick-start the day. Granola is widely popular among health-conscious individuals and families as it is gluten-free and boosts immunity, digestion and heart health.

The global Granola Market is estimated to be valued at US$ 3,753.4 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing demand for healthy and nutritious breakfast options among consumers, especially millennials, have propelled the sales of granola over the recent past. Manufacturers are launching new granola variants fortified with superfoods like chia seeds, goji berries, pumpkin seeds etc to cater to rising health awareness. They are also offering granola in smaller single-serve packs for on-the-go consumption. The inclusion of organic, non-GMO and natural ingredients further improves the nutritional profile of granola, making it a preferred snacking option. The phenomenal growth of ready-to-eat and ready-to-drink products will also contribute significantly to granola market size expansion during the forecast period.

SWOT Analysis
Strength: Major drivers of the mobile energy harvesting market include extended battery life of devices and miniaturization of piezoelectric components to fit in smaller electronic devices.
Advancements in nanotechnology have helped reduce the size of energy harvesting components.
Weakness: Commercialization and mass production of energy harvesting technologies require high capital investment which may restrain market growth. Design challenges in integrating energy harvesting components into slim mobile devices can also limit market adoption.
Opportunity: Emergence of IoT and need for powering a proliferating number of wireless sensor nodes without batteries presents a major opportunity. Growth of wearable devices market increases scope for powering sensors through energy harvesting.
Threats: Stiff competition from conventional battery technologies poses threats to market growth of energy harvesting. Limited energy output from harvesting small amounts of ambient energy is also a challenge.

Key Takeaways
The global mobile energy harvesting market is expected to witness high growth.

Regional analysis: North America currently dominates the mobile energy harvesting market owing to rapid adoption of latest technologies and presence of key players. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with China and India emerging as major markets.

Key players operating in the mobile energy harvesting market are Piezo.com, Microchip Technology Inc., Cypress Semiconductor Corporation, Enocean GmbH, Texas Instruments Incorporated and STMicroelectronics NV. These players are focusing on product development and partnerships to gain market share.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it