by 
Granola is a breakfast cereal made from oats, nuts, honey or molasses and sometimes dried fruit. It is crunchy and sweet tasting, providing an inexpensive source of carbohydrates, protein and fiber. Granola has become increasingly popular as people look to incorporate more whole foods into their diet for their perceived health benefits. Granola provides nutrients like unsaturated fats from nuts, vitamins, minerals, and fiber.The global Granola Market is estimated to be valued at US$ 3753.4 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the granola market size is the demand for organic and all-natural granola. Consumers are increasingly seeking out products with simple, clean ingredients. Granola manufacturers are responding to this demand by offering organic varieties made only from whole grains, nuts and dried fruit without added sugars, artificial colors or preservatives. For example, brands like Nature’s Path Organic and Bob’s Red Mill offer completely organic granola products. The Clean Label movement has also influenced granola innovations, with products focused on being non-GMO and avoiding artificial ingredients. Consumers prioritize products containing ingredients they recognize and can pronounce. This emphasis on natural and simple ingredients continues to shape the granola market.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channels lower the threat of new entrants in the granola market. However, established brands have strong brand recognition and relationships with suppliers and retailers.
Bargaining power of buyers: Large retail chains have significant bargaining power over granola producers due to their ability to demand high marketing allowances and lower product prices. However, granola has few substitutes.
Bargaining power of suppliers: Granola producers depend on a few raw material suppliers for oats, nuts, and dried fruits. This gives suppliers moderate bargaining power over producers. Suppliers could raise raw material prices.
Threat of new substitutes: Very few substitutes exist for the snack and breakfast benefits of granola, lowering the threat from substitutes. However, muesli and breakfast bars offer some substitution.
Competitive rivalry: The granola market has several large producers and private label brands vying for shelf space. Companies compete mainly on product innovation, brand marketing, and distribution channels.
Key Takeaways
The global granola market is expected to witness high growth over the forecast period.
Regional analysis: North America is the largest granola market led by the U.S. Rising demand for healthy and convenient breakfast options is fueling regional market growth. The Asia Pacific region is expected to be the fastest growing market due to western influence on eating habits and growing health consciousness.
Key players operating in the granola market are Piezo.com, Microchip Technology Inc., Cypress Semiconductor Corporation, EPeas SA, Texas Instruments Incorporated, EnoCean GmbH, STMicroelectronics NV, ABB Limited, Analog Devices Inc., Powercast Corporation, and Advanced Linear Devices Inc. Companies are focusing on new product launches and regional expansions to increase market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
