“Global Granola Bars Market to reach a market value of USD 8.7 Billion by 2031 growing at a CAGR of 5%”
The Global Granola Bars Market size is expected to reach $8.7 billion by 2031, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 808.5 million units (pack of 6), experiencing a growth of 10.7% (2020-2023).
Supermarkets and hypermarkets offer various products, including different brands, flavors, and types of granola bars. This extensive selection allows consumers to compare options, choose their preferred products, and explore new varieties, driving sales and market growth. Thus, the Supermarkets and hypermarkets segment captured nearly 1/3rd revenue share in the market in 2023. In terms of volume, it is expected that 414.3 million units of Granola bars would be sold through Supermarkets and hypermarkets.
Additionally, supermarkets and hypermarkets often feature promotional displays, special offers, and in-store marketing initiatives that help drive visibility and sales of granola bars. Their convenient locations, spacious layouts, and one-stop shopping appeal make them popular destinations for consumers looking to stock up on pantry essentials, including granola bars, thereby contributing significantly to the overall growth and market penetration of this snack category.
As consumers become more educated about nutrition and its impact on health, there is a growing demand for healthier snack options. Granola bars are often perceived as a nutritious choice because they include whole grains, nuts, seeds, and dried fruits, which provide essential nutrients like fiber, protein, vitamins, and minerals. Additionally, a culture of frequent snacking is increasingly replacing traditional three-meal-a-day eating patterns throughout the day. Busy lifestyles, longer work hours, and on-the-go activities have led consumers to seek convenient and portable snack options like granola bars to satisfy hunger between meals. Therefore, the market will grow due to the factors mentioned above.
However, Granola bars typically contain ingredients such as nuts, seeds, and dried fruits, which can be prone to spoilage if not stored properly. The short shelf life of granola bars limits their freshness and quality over time, affecting consumer perception and satisfaction with the product. The perishable nature of granola bars requires careful storage and handling throughout the supply chain to maintain product integrity. In conclusion, granola bars’ perishability and short shelf life hamper the market’s growth.
On the basis of distribution channel, the market is segmented into supermarket & hypermarket, departmental stores, convenience stores, online sales channel, and others. In 2023, the departmental stores segment attained 27% revenue share in the market. In terms of volume, 211.3 million units of granola bars were sold through departmental stores in the year 2023. Departmental stores often attract a specific demographic of consumers who prioritize convenience, variety, and quality in their shopping experience. This consumer base aligns well with the target market for granola bars, which includes health-conscious individuals, busy professionals, and families seeking nutritious snack options.
Based on product type, the market is divided into organic and conventional. The organic segment attained 40% revenue share in the market in 2023. In terms of volume, 302.1 million units of organic granola bars were utilized in the year 2023. Consumers are increasingly prioritizing health and wellness, leading to a growing demand for organic food products perceived as healthier and more natural. Organic granola bars are made with certified organic ingredients, free from synthetic pesticides, fertilizers, and genetically modified organisms (GMOs), appealing to health-conscious consumers seeking cleaner, more wholesome snack options.
Free Valuable Insights: Global Granola Bars Market size to reach USD 8.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 38% revenue share in the market in 2023. In terms of volume, it is expected that North America would consume 458.7 million units of granola bars by the year 2031. North America has seen a significant rise in health and wellness consciousness among consumers in recent years. Granola bars are perceived as a convenient and nutritious snack option, aligning with consumers’ desires for healthier food choices. The region’s emphasis on wellness drives demand for granola bars as a convenient way to incorporate whole grains, fiber, and other nutritious ingredients into daily diets.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 5.9 Billion |
| Market size forecast in 2031 | USD 8.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5% from 2024 to 2031 |
| Quantitative Data | Volume in Million Units (Pack of 6), Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 269 |
| Number of Tables | 530 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | The Hershey Company, Mars, Inc., General Mills, Inc., Kellogg Company, PepsiCo, Inc., John B. Sanfilippo & Son, Inc., Clif Bar & Company, Nestle S.A., McKee Foods Corporation, and Olympia Granola |
By Product Type (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
By Distribution Channel (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
By Geography (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
This Market size is expected to reach $8.7 billion by 2031.
Rising Health and Wellness Consciousness are driving the Market in coming years, however, Perishability and Short Shelf Life restraints the growth of the Market.
The Hershey Company, Mars, Inc., General Mills, Inc., Kellogg Company, PepsiCo, Inc., John B. Sanfilippo & Son, Inc., Clif Bar & Company, Nestle S.A., McKee Foods Corporation, and Olympia Granola
In the year 2023, the market attained a volume of 808.5 million units (pack of 6), experiencing a growth of 10.7% (2020-2023).
The Conventional segment is leading the Market by Product Type in 2023; thereby, achieving a market value of $5.0 million by 2031.
The North America region dominated the Market by Region in 2023; thereby, achieving a market value of $3.2 billion by 2031.
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