Granola is breakfast nourishment and nibbles sustenance comprising of nuts, rolled oats, nectar or different sweeteners, such as, dark sugar, and puffed rice, which is heated until it is fresh and toasted. The blend is mixed to keep up a free breakfast oat consistency. Dried organic product, for example, raisins and dates, and desserts, for example, chocolate are once in a while included. Granola, especially in the event that it incorporates flax seeds, is frequently used to enhance processing. Granola is frequently eaten with yogurt, nectar, crisp organic product, (for such as, bananas, strawberries or blueberries), grain or different types of oats. It additionally fills in as a garnish for different baked goods, pastries or frozen yogurt. Other than its utilization as a breakfast and nibble nourishment, granola may likewise be fused into some night supper formulas. Granola bars are highly preferred by individuals who are engaged in outdoor sports such as climbing, outdoors, or hiking since it is lightweight, nutritious, high in calories, and simple to store. Granola, combined with nectar or corn syrup is made into a bar that makes up for a quick snack for consumers engaged in outdoor activities such as climbing, hiking and mountaineering among others.
The global granola bars market is segregated on the basis of type, distribution channel, and region. Based on the type, the global market for granola bars is segregated into organic and inorganic granola bars. Inorganic granola bars held majority market share in 2016 and is expected to hold its position throughout the forecast period owing to longer shelf-life. Further, inorganic granola bars are highly preferred by several consumers such as vegan, kosher and gluten free granola bars. Further, the introduction of new flavors would help this segment to retain market dominance in the coming years.
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Based on distribution channel, the global granola bars market is segregated into supermarkets/hypermarkets, departmental stores, and convenience stores and vending machines among others. Supermarkets/hypermarkets held majority market share in 2016 and are also anticipated to witness a substantial growth rate during the forecast period of 2017-2025. Vending machines are anticipated to witness the most rapid growth rate during the forecast period owing to increased demand among the youth. They prefer healthy snacks on the go and vending machines is the perfect solution to it.
Major drivers driving the global market for granola bars include rising demand for gluten-free food products. Granola is gluten free and therefore, granola bar it is witnessing a surge in demand globally. Increasing health consciousness and rising awareness about various diseases and digestive problems are triggering market growth for granola bars globally. Further, the players operating in the granola bars market are following integrated marketing communication using various modes of advertisement such as newspapers, magazines, and social media among others to promote granola bars. Such channels play an active role in creating awareness about granola bars regarding their benefits. Additionally, several players are also promoting granola bars with regards to the new flavors and the ingredients that are used in granola bars that will have a positive effect on the consumers.
Additionally, vegan granola bars have become a part of the vegan lifestyle which also projects support for animal rights and environmental concerns. Nature Valley Granola Bars, Crunchy Granola Bars and Earnest Chewy Granola Bars are some examples of vegan granola bars that are currently available in the market.
Low awareness of granola bars in the developing and underdeveloped countries is highly restraining the growth of the granola bars market. However, the impact of this restraint is expected to minimize by the end of the forecast period.
Product and packaging innovation are some of the factors that would ensure smooth growth of the granola bars market in the future. Due to the lucrative nature of the market, the manufacturers operating in this field are constantly engaged in upgrading their products in order to ensure proper sustenance in the granola bars market.
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Geographically, the global market for granola bars is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America held the most dominant market share in the granola bars market in 2016 and is expected to hold its dominance throughout the forecast period. This is attributed to the high awareness among consumers about the benefits of granola.
Asia Pacific is estimated to witness the most rapid growth rate during the forecast period owing to rising health consciousness among consumers in this region. Further, owing to the lucrative nature of the granola bars market and huge investment potential in the countries such as India, China, and Japan manufacturers of granola bars are looking to penetrate this region for expansion opportunities.
Major players included in the global granola bars market include General Mills, Inc. (U.S.), The Kellogg Company (U.S.), PepsiCo, Inc. (U.S.), Clif Bar & Company (U.S.) and Oriole Healthy Food (U.S.) among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa