Granola Bars Market

Global Granola Bars Market Size, Share & Trends Analysis Report By Product Type, By Distribution Channel (Supermarket & Hypermarket, Departmental Stores, Convenience Stores, Online Sales Channel, and Others) By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23024 Publication Date: June-2024 Number of Pages: 269
2023
USD 5.9 Billion
2031
USD 8.7 Billion
CAGR
5%
Historical Data
2020 to 2022

Market Report Description

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.

Granola Bars Market Size - Global Opportunities and Trends Analysis Report 2020-2031

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.

Driving and Restraining Factors
Granola Bars Market
  • Rising Health and Wellness Consciousness
  • Growing Snacking Culture Globally
  • Expansion Of the Food Processing Industry Worldwide
  • Perishability and Short Shelf Life
  • Seasonal Ingredient Availability
  • Increasing Innovative Packaging Solutions
  • Collaborations With Fitness and Wellness Influencers
  • Rising Competition from Alternatives
  • Dietary Restrictions and Specialized Diets

Distribution Channel Outlook

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.

Granola Bars Market Share and Industry Analysis Report 2023

Product Type Outlook

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

Regional Outlook

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.

Granola Bars Market Report Coverage
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
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
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
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Recent Strategies Deployed in the Market

  • Jul-2023: Mars, Inc. took over Kevin's Natural Foods, a US-based food and beverage company. Through this acquisition, Mars, Inc. would enhance its product portfolio and market presence.
  • May-2023: General Mills Inc. came into partnership with Reliance Consumer Products Ltd, an Indian consumer goods company. Through this partnership, General Mills Inc. would provide its services to Reliance Consumer Products Ltd to enhance its product portfolio.
  • Mar-2023: Nestle S.A. introduced "KitKat cereal". This new cereal provides a delightful KitKat flavor and has been created to meet the preferences of consumers seeking an occasional, indulgent breakfast choice that can be enjoyed as part of a balanced diet.
  • Mar-2023: The Hershey Company announced the launch of the Plant-based Extra Creamy Oat Chocolate Bar and Reese’s Plant-Based Peanut Butter Cups, two new vegan chocolates in the US to serve a growing number of consumers seeking dairy-free chocolates.
  • Jun-2022: Mars, Inc. came into partnership with Perfect Day, Inc., a food technology startup company based in Berkeley, California. This partnership aimed to launch CO2COA, the first ‘earth-positive’ animal-free chocolate.

List of Key Companies Profiled

  • 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
  • Olympia Granola

Granola Bars Market Report Segmentation

By Product Type (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)

  • Conventional
  • Organic

By Distribution Channel (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)

  • Supermarket & Hypermarket
  • Departmental Stores
  • Convenience Stores
  • Online Sales Channel
  • Others

By Geography (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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