Granola Market Is Expected To Reach A Revenue Of USD 6,657.4 Mn By 2033, At 4.9% CAGR: Insights By Dimension Market Research

Overview

The Granola Market size is expected to reach USD 4,334.6 Million by 2024 and is further anticipated to reach USD 6,657.4 Million by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 4.9% from 2024 to 2033.

A mixture of oatmeal, nuts, seeds, and dried fruits covered in sugar honey, or other sweeteners, also known as granola, is usually taken for breakfast or as a snack. It offers multiple flavors, such as cinnamon and chocolate.

Its nutritional richness, which has a range of vitamins, carbohydrates, and proteins, supports its role as a delicious health-conscious alternative to consumers' daily breakfast consumption, which includes bar and baked goods served with milk or yogurt.

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Important Insights

• Projections suggest a substantial surge, within the global granola market as it is expected to show noteworthy growth by reaching USD 6,657.4 million by 2033. This represents a significant Compound Annual Growth Rate (CAGR) of 4.9%, commencing from its 2024 base value of USD 4,334.6 million.
• Conventional granola sources lead the origin segment due to low cost, wider availability, and perceived nutritional value, despite the rising demand for organic and health-oriented options.
• Granola bars dominate due to their convenience, portability, portion control, and diverse flavors, meeting the needs of busy, health-conscious consumers. Heavy marketing investments enhance consumer awareness and sales, solidifying their market leadership.
• Vanilla dominates the granola flavor segment due to its wide appeal, versatility, and compatibility with various mix-ins, offering endless taste combinations and culinary possibilities for manufacturers and consumers.
• Supermarkets and hypermarkets dominate granola distribution due to their extensive reach, convenience, diverse product offerings, and ability to negotiate competitive pricing with producers, driving sales growth.
• North America is projected to lead the granola market with a 37.2% market share in 2024 due to widespread consumer shift toward convenient breakfast options.

Latest Trends

• Health Consciousness: Increasing consumer interest in more healthy eating habits drives a need for granola, rich in fiber and protein, as a nutritious breakfast and snack choice.
• Rising Lifestyle-associated Ailments: The growing incidence of lifestyle-related illnesses like weight problems and diabetes encourages consumers to choose healthier snack options like granola, which drives the growth of this market.
• Product Innovation: Ongoing innovation in product composition and formulation caters to diverse taste preferences, together with the creation of gluten-free, organic, and occasional-sugar varieties that appeal to health-conscious and nutritional-restricted customers.

Granola Market: Competitive Landscape

• This market has various well-known granola manufacturers like Kellogg Company, General Mills Inc., Quaker Oats Company, and Nature Valley who dominate with diverse product ranges, strong branding, and extensive distribution networks. They invest heavily in innovation, advertising and marketing, and partnerships to hold their market leadership.
• Various emerging startups and regional players in this market offer natural, gluten-free, and artisanal granola, that specializes in satisfactory, precise flavors, and sustainability. Also, E-trade facilitated by various market players is extensively expanding its product portfolio which allows it to compete globally with established manufacturers.

Some of the prominent market players:

• PepsiCo Inc.
• Kellogg Corners
• The Quaker Oats Company Inc.
• Kraft Foods Inc.
• Sunnycrunch
• ConAgra foods
• Clif Bar & Coand
• General Mills
• Nestlé
• Nature Valley
• Slim-Fast Food Co. (Unilever Company)
• Other Key Players

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Granola Market Scope?

Report Highlights Details Market Size (2023) USD 4,334.6 Mn Forecast Value (2033) USD 6,657.4 Mn CAGR (2024-2033) 4.9% Leading Region in terms of Revenue? Share North America Percentage of Revenue Share by Leading Region 37.2% Historical Data 2017 - 2022 Forecast Data 2025 – 2033 Base Year 2023 Estimate Year 2024 Segments Covered By Component, By Technology, By Application Regional Coverage North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Market Analysis

In the granola market, conventionally prepared granola holds a 59.2% revenue share in 2024, outpacing organic granola due to its lower cost and wider availability. Traditional granola, perceived as nutritious, appeals to middle and lower-class consumers, while organic options cater to health-conscious individuals.

Despite the rising popularity of organic products, conventional granola maintains dominance due to accessibility and perceived nutritional value.

Growth Drivers

• Widening Distribution Channels: Expansion of distribution channels, which include online platforms and specialty stores, enhances accessibility to granola globally, contributing to market growth.
• Globalization: Increased globalization enables granola manufacturers to reach new markets and enlarge their consumer base, further driving market growth.
• Consumer Trends and Innovations: Dynamic consumer trends and continuous product innovations force market growth by meeting evolving consumer needs.

Restraints

• Competition from other breakfast options: Granola faces competition from diverse breakfast alternatives, which include cereals, muesli, oatmeal, and protein bars. Consumers may also pick out these options primarily based on taste preference, comfort, or nutritional value, affecting granola sales.
• Health and dietary issues: While granola is regularly perceived as a wholesome breakfast choice, some consumers may have concerns about its sugar and calorie content.
• Allergies and nutritional restrictions: Granola typically consists of ingredients like nuts, seeds, and gluten, which can pose challenges for people with allergies or nutritional restrictions.

Growth Opportunities

• Health and wellness trends: With increasing awareness about the importance of a healthy lifestyle, there is a growing need for nutritious breakfast alternatives. Granola, with its whole grains, nuts, seeds, and dried fruits, is perceived as a wholesome choice.
• Innovative flavors and ingredients: Consumers are constantly in search of new and exciting flavor experiences. Manufacturers can experiment with innovative flavor combos, consisting of exotic fruits, spices, and superfoods, to attract adventurous consumers.
• Convenience and on-the-go consumption: Busy lifestyles drive the demand for convenient, portable breakfast alternatives. Granola bars, single-serve packs, and snack-sized portions cater to consumers who are looking for quick and easy breakfast solutions.

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Granola Market Segmentation

By Origins

• Conventional
• Organic

By Product

• Bars
• Cereals
• Baked Goods
• Trail Mix
• Fruit Cups

?By Flavor

• Vanilla
• Chocolate
• Coconut
• Strawberry
• Banana
• Others

By Distribution Channels

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Online

Regional Analysis

North America is expected to dominate this market with 37.2% of the market share in 2024. North America dominates the granola market due to the wide demand for this product from the consumer as their changing preference for convenient, nutritious breakfast alternatives, which is further facilitated through busy lifestyles and health cognizance.

This region boasts an advanced food infrastructure and several distribution channels, ensuring smooth accessibility. Numerous established granola producers leverage innovation and advertising to maintain market management amidst various consumer preferences.

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By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Granola Market

• February 2024: US snack brand Rind acquires Vermont's Small Batch Organics, rebrands their products, targets USD 25.0 million in retail sales, and partners for new product development.
• October 2023: Impact Capital, helmed by entrepreneur Mike Repole, secures majority ownership in Junkless Foods, with plans to enhance the granola bar brand's national presence with a health-centric strategy.
• September 2023: Ascension Capital purchases 45% of Paul’s Muesli, a South African producer of muesli and granola bars, focusing on expansion and empowerment initiatives.
• February 2023: Mooski, supported by RXBAR's Jared Smith, expands nationwide with chilled oat bars. Enhanced manufacturing partnership improves quality and capacity, with retail activations and updated packaging ahead.
• January 2022: SEMCAP Food & Nutrition leads a USD 50.0 million Series B funding for Purely Elizabeth, fueling product innovation and e-commerce growth for the natural food company.

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