Granola is basically a breakfast food containing rice, oats etc. seeds and sweeteners, dried fruits, honey and oil, toasted until crunchy. Granola is taken as breakfast cereal or snacks as it consists of whole grain oat, as it is healthy and indulgent with essential vitamin and nutrients. It has high fiber content is a predominant feature across many markets. There are various brands offering products with high level of fiber which supports weight maintenance, appetite suppression and digestive health and other healthy ingredients are also combined, such as vitamin and minerals, omega 3. Granola can often combine with yogurt, honey, strawberries, bananas, and other types of fruit or also can be mixed with other types of cereals so the nutritive value will increase.
It is extremely popular snack food and breakfast with health benefits, as granola has ability to lower blood pressure, lower cholesterol, aid in weight loss attempts, regulate digestion and improve heart health problems, , improve skin quality, , it increases energy, manages diabetes prevent anemia, promote organ function, helps in building stronger bones and even prevent cancer. Moreover, consumers who exercise likes to eat granola nutrition bars as it indicates that meal replacements and diet bars are used by health-minded consumers to manage balance nutrition and weight, and complement active lifestyles which provide beneficial fats.
Granola market is segmented on the basis of cereals, forms, usage, flavor, and distribution channel. On the basis of cereals, granola market is segmented as oats, brown rice, millet, buckwheat and quinoa. As oats are considered healthy oat granola segment has captured significant market shares, followed by quinoa and brown rice.; Granola market is further segmented on the basis of forms in cereals and bars. The bar segment is being popular as preferred as meal replacement by regularly exercising, health conscious consumers.
On the basis of usage or applications, the market is segmented in breakfast baked goods, salads, gratins, fruit crisps, puddings, cookies, trail mix, cupcakes. Growing market demand for health cupcakes, cookies and other bakery products as well as healthy salads, driving market growth for granola based foods. On the basis of flavors, the market is segmented in coconut, chocolate, banana, vanilla, strawberry and others. On the basis of distribution channel the granola market is segmented into supermarket/ hypermarket, convenience stores, online and grocery stores.
Depending on regions, global granola market is segmented as: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific Excluding Japan, Japan, and Middle East & Africa. North America dominated the granola market, followed by Europe. The Demand of granola is rising in developing regions such as Asia Pacific Excluding Japan. Asia- Pacific market is projected to witness the fastest growth during the forecast period.
Increasing number of health conscious consumers will drive the market during the forecast period, due to various health benefits such as, it helps as aid in digestion and diabetes management, effective in reducing harmful LDL cholesterol, provides relief from constipation, heartburn and excess flatulence etc.. Changing lifestyle of the consumer, increasing health consciousness and wellness are another major market drivers of granola as it is healthy snack and breakfast option.
Increasing disposable income, strengthen the purchasing power of consumer goods which includes nutritious food such as nutrition bars, snacks and cereal. Since the employment make the lives busier, the demand for nutrition bars and meal replacement could rise. As consumers consumes wholesome and nutritious food as they are easy on-the go. Increasing competition from the variety of categories results that snack, cereal and bars companies will clearly define the addition of functional and nutritional benefits that set them apart from competing products.
Some of the key players in granola market are sunnycrunch, Kellogg Corners, General Mills, Nature Valley, Kraft Foods Inc., ConAgra foods, Nestlé, Slim-Fast Food Co. (aUnilever Company), Clif Bar & Coand others.