Granola bar is type of gluten-free snack made with granola, sweeteners, dry fruits, and flavors. It is prepared with a mixture of rolled out oats, puffed rice, and sugar syrup or honey to hold the bar shape together. Increasing demand for healthy snacks and availability of various types of granola bars from the health conscious and vegan individuals, are key factors anticipated to drive the growth of the global granola bar market.
The global granola bar market has been segmented on the basis of product type, flavor, distribution channel, and region. On the basis of product type, the market is segmented into regular, vegan, organic, and sugar free. Organic segment expected to witness high growth, due to rising demand for organic food products among consumers. On the basis of flavor, the market is segmented into fruit, spice, nut, chocolate, and others. Fruit segment is segment anticipated to register a significant growth rate over the forecast period, owing to the rising demand for fruit flavored granola bar among young population.
On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, retail stores and convenient stores, grocery stores, and online stores. Supermarkets and hypermarkets segments dominate the global market in terms of revenue and expected to maintain its position over the forecast period, due to availability of different types of granola bars.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global market in terms of revenue over the forecast period, due to the increasing consumption of healthy snack and growing vegan population in this region. The market in Asia Pacific is expected to register a significant growth rate in terms of revenue and volume in the near future, owing to increasing adoption of healthy snacks and growing retail sector especially in developing countries.
Key players operating in the global granola bar market include General Mills, Inc., The Kellogg Company, Clif Bar & Company, Pepsico Inc., Hearthside Food Solutions LLC, Sunny Crunch Foods Ltd., Standard Functional Foods Group, Inc., Noble Foods Ltd., Olympia Granola, Inc., and Bakery Barn, Inc.