Organic Granola Is Fastest Growing Segment Fueling The Growth Of Granola Market

 

The global Granola Market is estimated to be valued at US$ 3,753.3 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Granola is a breakfast cereal made from rolled oats, nuts, honey or other sweeteners and spices. It is widely consumed due to its nutritional value and taste. It provides energy, fiber, vitamins and proteins which make it a healthy breakfast option.

Market key trends:

One of the key trends driving the growth of the granola market is the increasing health-consciousness among consumers. Rising awareness about the adverse effects of packaged and processed snacks have encouraged people to shift towards more natural and healthier breakfast options like granola. Granola is low in calories and high in fiber, which aids weight management. It also contains antioxidants from various nuts and dried fruits that are added to granola, protecting the body from damage by free radicals. The growth in health awareness is expected to drive significant demand for granola products over the forecast period.

Segment Analysis

The granola market is segmented into organic and conventional granola. The organic segment dominates the market and accounts for around 60% share due to rising consumer preference for chemical-free and natural food products. The organic segment is expected to witness faster growth over the forecast period supported by increasing health awareness among people and stringent regulations regarding organic certification.

Key Takeaways

The global granola market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing health consciousness and busy lifestyle of people.

Regional analysis:

North America dominates the granola market with over 30% share driven by growing popularity of on-the-go breakfast options. Europe is the second largest market supported by rising expatriate population demanding international food products. Asia Pacific is expected to be the fastest growing region due to increasing adoption of Western food habits and improving living standards.

Key players:

Key players operating in the Granola market are Kellogg Corners,Kraft Foods Inc.,Sunnycrunch,ConAgra foods,Clif Bar & Coand,General Mills,Nestle,Nature Valley,Slim-Fast Food Co. The market leaders are focusing on new product launches and acquisitions to strengthen their market presence. For instance, Kellogg launched new nut butter granola line and acquired RXBAR.

The global granola market size for 2023 is US$ 3,753.3 Mn. The market is expected to grow at a CAGR of 4.5% during the forecast period of 2023 to 2030.

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