Global Granola Bars Market is valued approximately USD 4.27 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.50% over the forecast period 2022-2029. Granola Bars is a snack bar and made using a mixture of oats and other ingredients (such as brown sugar, raisins, coconut, and nuts among others. Moreover, other organic ingredients including raisins and dates, and dark chocolate are also used in granola bars. Granola bars are intended to be eaten as breakfast and snack food. The increasing demand for snack bars and growth in sedentary lifestyle are key factors accelerating the market growth.
The increasing demand for functional bars and snacks is contributing to the growth of the Global Granola Bars Market. For instance, according to Statista - in 2020, around 44.51 million Americans consumed energy / diet snacks and bars, and this number is projected to grow to 45.27 million in 2024. Furthermore, as per Statista - in 2021, the global healthy snacks market was valued at USD 85.6 billion, and the market is projected to grow at a rate of 6.6 percent annually between 2022 and 2030 to reach to USD 152.3 billion by 2030. Also, rising number of health-conscious individuals and increasing demand for cereal-based bars would create lucrative growth prospectus for the market over the forecast period. However, lack of awareness in developing regions stifles the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Granola Bars Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of leading market players and increasing demand for functional snacks & bars in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising consumption of functional food & beverages and increasing penetration of leading market players in the region.
Major market players included in this report are:
ADM (US)
Olam International Limited (Singapore)
Barry Callebaut (Switzerland)
Blue Diamond Growers (US)
John B. Sanfilippo & Son (US)
Kanegrade (UK)
Borges Agricultural & Industrial Nuts (Netherlands)
Savencia SA (France)
The Wonderful Company (US)
Harris Woolf California Almonds (US)
Recent Developments in the Market:
In July 2021, Utah, USA based Kodiak Cakes has launched chewy Granola Bars, this new bar contains 100% whole grain rolled oats and is a non-GMO certified.
In February 2022, Tennessee, USA based McKee Foods Corp. has expanded its Sunbelt Bakery brand with the launch of Panada chewy granola bars. The new bars introduced are made with whole grain grains, white and chocolate chips, and do not contain high-fructose corn syrup and preservatives.
Global Granola Bars Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product Type, Origin, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Fruit Flavors
Nut Flavors
Spice Flavors
By Origin
Organic
Conventional
By Distribution Channel
Supermarkets
Hypermarkets
Online stores
Convenience Stores
Specialty Stores
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
