The future of the granola bar market is characterized by a robust global presence extending beyond North America. While North America maintains a significant share, manufacturers and brands increasingly operate internationally, tailoring their products to align with diverse regional tastes and preferences. This adaptability reflects the market's dynamic nature, ensuring growth is not confined to specific regions. The broad consumer appeal of granola bars indicates a global acceptance of these snacks as a convenient and nutritious option, paving the way for sustained expansion and innovation worldwide.
According to Data Bridge Market Research analyses, the Global Granola Bars Market was valued at USD 4.56 billion in 2022 and is expected to reach USD 5.97 billion by 2030, at a CAGR of 4.87% from 2023 to 2030.
“Diversification of flavors and products boosts the market growth"
The diversification of flavors and products serves as a key driver for the global granola bars market. As consumer preferences evolve, manufacturers are responding by introducing various innovative flavors and product variations. This strategy caters to diverse taste preferences and attracts a broader consumer base, fostering market growth. The emphasis on diversification enhances product appeal, keeps the market dynamic, and aligns with the demand for novel and customized offerings, propelling the granola bars market forward.
What restraints the growth of the global granola bars market?
“Low awareness among the consumers hampers the market growth”
A key restraint in the global granola bars market is the low awareness among consumers regarding the benefits of granola bars. Despite their nutritional value and convenience, a significant portion of the consumer base remains uninformed about the positive attributes of granola bars. This lack of awareness hinders market growth as potential consumers may not fully grasp granola bars' health benefits and versatility, leading to subdued demand and market expansion.
Segmentation: Global Granola Bars Market
The global granola bars market is segmented on the basis of type, origin, and distribution channel.
- On the basis of type, the global granola bars market is segmented into fruit flavors, nut flavors, spice flavors, and others
- On the basis of origin, the global granola bars market is segmented into organic and conventional
- On the basis of distribution channel, the global granola bars market is segmented into supermarkets, hypermarkets, online stores, convenience stores, specialty stores, and others
Regional Insights: North America dominates the Global Granola Bars Market
North America dominates the global granola bar market with a substantial share due to a preference for healthy foods. Innovative product offerings, robust distribution networks, and a forecasted continuation of market leadership sustain the region's dominance. Consumers' health-conscious choices and the industry's adaptability position North America as pivotal in shaping the granola bar market landscape.
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Recent Developments in the Global Granola Bars Market
- In March 2020, Kellogg Co. launched Kellogg's Cereal Bars, featuring cereal pieces equivalent to half a serving of cereal by weight. These bars are offered in Kellogg's Frosted Flakes and Kellogg's Froot Loops variants, boasting 90 to 100 calories and 8 grams of sugar per snack bar
- In July 2019, KIND Snacks entered the acquisition arena with its undisclosed investment in Creative Snacks, a North Carolina-based company specializing in clusters, trail mixes, and granola
- In November 2019, Nature Valley launched its Wafer Bars—a wholesome creation incorporating whole grain, layered with peanut butter, and topped with granola. These bars are presented in two delectable flavors: peanut butter and peanut butter chocolate
The Prominent Key Players Operating in the Global Granola Bars Market Include:
- ADM (U.S.)
- Olam International Limited (Singapore)
- Barry Callebaut (Switzerland)
- Blue Diamond Growers (U.S.)
- John B. Sanfilippo & Son (U.S.)
- Kanegrade (U.K.)
- Borges Agricultural & Industrial Nuts (Netherlands)
- Savencia SA (France)
- The Wonderful Company (U.S.)
- Harris Woolf California Almonds (U.S.)
- Treehouse California Almonds (U.S.)
- Döhler GmbH (Germany)
- Royal Nut Company (Australia)
- Repute Foods Pvt. Ltd (India)
- Deep Nuts N Flavors LLP (India)
- Shivam Cashew Industry (India)
- Modern Ingredients (India)
- ConnOils LLC (Wisconsin)
- Valley Harvest Nut Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global granola bars market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Granola Bars Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
