Report Description
A recent market intelligence report that is published by Data Insights Partner on the global Granola Bars Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Granola Bars Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Granola Bars Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Granola Bars Market is offered. In accordance with the report, the global Granola Bars Market is projected to expand by healthy CAGR over the period of forecast.
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Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Granola Bars is a variant of cereal bars that are obtained by the integration of dry fruits, nuts, granolas, roll-out oats and different kinds of oats, puffed rice and sweeteners like honey and sugar syrup. It is a kind of sweet baked snack. These bars have low sugar and fat content and gluten free and are immensely nutritious for the human body. They are rich sources of protein. It is also used as an ingredient for garnishing frozen yogurt, pastries and other baked food items.
Market Drivers
The soaring health awareness among the people around the globe is providing the initial impetus in the development of the granola bars market. Health-conscious consumers are majorly inclined towards the consumption of low fat and low sugar containing foods. The increasing trend among consumers to consume gluten free products, granola being gluten free is a determining factor. The soaring population suffering from celiac and digestives disorders are preferring healthy diet items like granola bars.
The surging vegan population coupled with the introduction of vegan granola bars that is a good source of protein and energy is fueling the growth of the market. In this context, it is necessary to note the increasing concern of the population with regard to the animal cruelty is one of the forces firing the growth of the vegan population and positively influencing the granola bars market.
Granola Bars are ready-to-eat, nutritious foods. The first paced lifestyle of the people and their replacement of homemade foods with nutritious, convenient foods coupled with the flourishing food and beverage industry is bolstering the growth of the granola bar market.
Granola Bars are good for physically-active peoples like sportsperson and athletes. This market thrives on the growing participation of people in sports activities to maintain fitness. Further, the integrated effort of the leading players to adopt promotional activities like product advertising by a famous sports personality to widen consumer base and selling strategies like providing offers, coupons and many more are augmenting the growth of this market.
Market Restraints
The lack of awareness among the consumers of the developing and underdeveloped economies with regard to the availability of granola bars and also the healthy benefits of consuming granola bars is impeding the growth of the granola bar market.
Further the volatile and premium prices of the raw materials used in the production of granola bars lead to premium prices of granola bars which is severely threatening the growth of the granola bars market.
Opportunities
The availability of granola bars in a variety of flavors coupled with the constant research and development to improve the product portfolio and widen the choice of flavors is a lucrative opportunity for the market players.
Moreover, the activities of opening franchises, specialty stores and the growth of the e-commerce platforms is expected to provide lucrative opportunity to thrive in this market.
Finally, the constant widening of the base of health-conscious consumers and vegan population is likely to provide better path ahead.
Trends
At present, North America holds a dominant share of the granola bars market. Europe and Latin America are following North America in terms of market share. This domination can be attributed to the presence of health aware consumers, the availability of granola bars in the retail chain, principled marketing and selling strategies and the presence of dominant market players coupled with their constant effort in improving product portfolio. The Asia Pacific region is expected to show progress in the forecast period. This can be attributed to the presence of emerging economies like China, India, Japan in this region, increasing health awareness among the population of this region and the positive efforts of the leading players in the penetrating the granola bars market in this region.
Segment Covered:
This market intelligence report on the global Granola Bars Market encompasses market segments based on product type, flavors, origin, and country.
By Product Type the global Granola Bars Market has been divided into:
q Sugar Free
q Organic
q Vegan
q Regular
By Flavors the global Granola Bars Market has been divided into:
q Spicy Flavours
q Fruit Flavours
q Nut Flavours
q Others
By Origin the global Granola Bars Market has been divided into:
q Conventional
q Organic
By country/region, the global Granola Bars Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Nature Valley
q BAKERY BARN
q Olympia Granola
q Hearthside Food Solutions LLC
q Bridgetown Natural Foods
q Clif Bar and Company
q Soul Sprout
q General Mills
q Standard Functional Foods Group
q Earnest Eats
q Simple Good Foods Company
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Granola Bars Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Hearthside Food Solutions LLC
In October 2017, Standard Functional Food Groups was acquired by Hearthside Food Solutions LLC but the amount of acquisition was not disclosed.
Simple Good Foods Company
By November 2019, Simply Good Food Co entered into a contract with Quest Nutrition LLC. This deal was contracted at USD 1 billion. The integration of former’s brand with later product portfolio of low-sugar, protein bars is expected to favor both the companies.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Granola Bars Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Granola Bars Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Granola Bars caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Granola Bars Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
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v Identification of key factors driving investment opportunities in the Granola Bars Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants