Global Granola Market: Overview
Granola comes with multiple health benefits as it contains healthy ingredients like omega 3, minerals, and vitamins. Granola is also capable of assisting in weight management. These benefits of the product are likely to work in favor of the global granola market.
Granola refers to a snack food and breakfast food comprising honey, rolled oats, nuts, and sweeteners like brown sugar. At times, it also contains puffed rice, which is baked until the rice is golden brown, toasted, and crisp. During the procedure of baking, the mixture is whisked in such a way a consistency of loose breakfast cereals is maintained. Granola is usually taken with honey, fresh fruits, yoghurt, and milk. Cereals are mixed with granola to better it nutritional value. Granola comes with vitamin C, vitamin E, calcium, iron, magnesium, potassium, sodium, and dietary fibers. All these nutrients make granola extremely healthy for anybody. Granola also finds use in various baked products, such as bars, cakes, and cookies. Granola bars are extremely easy to carry and , as such, they are carried during trekking, hiking, camping or travelling. Multiple uses of the products are likely to trigger growth of the global granola market over the period of analysis, from 2020 to 2030.
Flavor, cereals, usage, forms, distribution channel, and region are the six important parameters based on which the global granola market has been classified.
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Global Granola market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global Granola market is mentioned as below:
- In August 2019, Cape Town-based leading packaged food company Pioneer Foods has launched a new product under its premium cereal brand Lizi’s. The company has introduced Lizi’s Digestive Health Granola, a digestive health variant of its already existing low sugar granolas. This new product comes with added cultures so as to improve gut health. Such innovative and healthy products are expected to drive the demand for granolas globally.
Some of the prominent organizations in the global granola market comprise the below-mentioned:
- Conagra Brands, Inc.
- Kellogg Company
- The Quaker Oats Company, Inc
- Sunny Crunch Foods Ltd
- Standard Functional Foods Group, Inc
- Kraft Foods Group, Inc.
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Global Granola market: Key Trends
The global granola market is characterized by the presence of the following restraints, drivers, and opportunities.
Increasing Demand for Healthy and Fit Lifestyle to Amplify Demand for Granola
The growth of the global granola market is likely to be influenced by the rising awareness about breakfast and importance of eating healthy. In the last few years, people have become increasingly health conscious and are making every effort to stay fit and live healthy. It has been observed that hectic lifestyle and unhealthy food habits leave an adverse effect on the health of individuals. Such lifestyle and food habits often lead to lifestyle diseases like obesity, diabetes, blood pressure and many others. As such, for improved health, people are turning to healthy food options, which is likely to work in favor of the global granola market in the years to come.
In addition to health consciousness, increasing disposable income together with propensity to people to spend on premium products is expected to drive the demand for granolas. Furthermore, convenience of carrying granolas and its ready-to-eat nature make it a popular choice amongst young people.
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Global Granola market: Geographical Analysis
In terms of revenue, North America is estimated to account for a substantial share of the global granola market throughout the period of assessment. Availability of varieties of granola products and tendency to consume granolas on a regular basis amongst the Americans is expected to drive the demand for granola in the region. Europe is likely to emerge as another prominent region in the market, trailing behind North America. The consumption of healthy breakfast is the norm in Europe and as more people demand for it, the granola market is expected to witness considerable growth in the region over the forecast timeframe.
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.
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