Market Introduction:
Granola bars are a kind of sweet baked snack which are prepared by the heterogeneous mixture of dry fruits, honey, cereals, puffed up rice and various other ingredients. Granola bars are easy to carry and used by consumer involved in outdoor activities. Sometimes they are also used with other food items such as ice creams, pastries, and yogurt bars contains essential nutrients such as proteins, vitamins and minerals which are generally consumed in the midst of the meals. Granola bars are a perfect an on-the-go breakfast, which is widely gaining its importance in various countries over the last couple of years. Granola bars are available in a variety of flavors such as fruit flavor, nut flavor, spices flavor and others.
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Granola Bar Market: Segmentation
The Granola Bar market can be segmented as product type, origin, lifestyle, packaging and distribution channels.
By product type, the granola bar market can be segmented as fruit flavors, nut flavors, spice flavors and others. Among all these flavor type segment fruit flavor is expected to dominate the market in terms of value share. Availability of wide variety of products in fruit flavor granola bars is expected to support the segment growth in granola bar market over the forecast period.
By origin, the granola bar market can be segmented as organic and conventional. Organic products are considered to be healthier and pure, thus increasing acceptance for organic labelled products among the consumers is expected to support the segment growth in granola bar market over the forecast period.
The global granola bars market is segmented on the basis of distribution channels which includes supermarket/hypermarket, online stores, convenience stores, specialty stores and other retail formats. Sales of granola bars through supermarkets/hypermarkets is expected to occupy largest value share on the pie. Furthermore the segment is expected to remain dominant in terms of CAGR during the forecast period.
The Granola Bar market is highly dependent on the availability of the variety of products and the type of lifestyle led by the people. In, order to attract the consumers seeking for on-the-go breakfast product the manufactures are offering granola bar in convenient packaging solution which includes kraft paper wrapper, plastic wrapper, flat card board boxes (vertical and horizontal), burlap bags and huge card board boxes.
Granola Bar Market: Drivers, Restraints, and Trends
Granola bars market is driven by increasing concern for health benefits products. In addition, the global granola bars market driving factors are increasing consumer shift towards healthy breakfast alternatives having low-fat and low-sugar in the end products. Manufacturers are offering granola bars in various flavors in order to attract new customers which is also a major factor for driving the growth of the global granola bars market over the forecast period. Granola bars are seen as trending market in which many franchisers are opening their stores and offering wide varieties of granola bars which is also a major driver for the global granola bars market. Many consumers are preferring granola bars in order to supplement their regular eating habits as they are nutritious and healthy. Hence, the global granola bars market is expected to attain significant growth over the forecast period.
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Granola Bar Market: Regional Outlook
Geographically, the global granola bars market can be segmented into major regions which include North America, Latin America, Europe, Asia-Pacific and the Middle East and Africa. Globally, among all regions, North America has developed as the dominant region in global granola bars market followed by Europe and Latin America. Increasing demand for granola bars due to the presence of high level of protein quantity along with the rising product availability in retail sector, efficient distribution and innovative marketing strategies, has strengthened the growth of global granola bars market and hence is expected to represent a significant growth over the forecast period.
Granola Bar Market: Key Players
- Nature Valley
- Pepsico Inc (Quaker)
- Hearthside Food Solutions LLC
- Sunny Crunch Foods ltd
- Standard Functional Foods Group, Inc.
- Noble Foods
- Olympia Granola, Inc.
- BAKERY BARN, INC
- Bridgetown Natural Foods