The global granola bars market was valued at almost USD 7 billion in 2016 and is projected to surpass USD 9 billion by 2021, says Technavio.
Technavio has published its latest market research analysis on the global granola bars market, under its food portfolio. This market breakdown considers the chief drivers and key evolving trends and offers an analysis of key retailers like General Mills, Kellogg, Quaker, KIND Snacks, Clif Bar, and Sunbelt Bakery.
According to Manjunath Reddy, a lead analyst for food research at Technavio, “The multiple health benefits of granola bar is driving the growth of the global granola bars market. Urbanization and consumerism have changed the lifestyles and dietary habits of people across the world which in turn has created a niche market for healthy snacks and other dietary food products. The demand for organic and all natural ingredient snacks will augment the evolution of the granola bars market over the next few years.”
The population across the world are focusing on health and fitness, which will help boost the sales of these food items in the market. The consumers are paying more attention to the nutritional content of the food they eat, encouraging the vendors to market their products strategically to attract more customers. The fiber content in the bars slows down consumers’ digestion process so that body can easily collect nutrients and some of these snacks also contain omega-3 fats, which help in heart diseases and lower blood pressure and heart rate.
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Increasing demand for vegan granola bars
The increasing number of vegan consumers is attributed by the displays of strong support for animal rights and concern for the environment. These lifestyle choices have encouraged manufacturers in the food industry to launch vegan packaged food items like granola bars. The players are coming up with more varieties of vegan granola bars to meet the requirement of the consumers and increase their profitability. These vegan products are amiable in apple crisp, cinnamon, maple brown sugar, peanut butter, pecan crunch, and roasted almond flavors.
Launch of interesting flavors to entice consumers
The vendors in the global granola bar market are introducing interesting flavors to attract the consumers. The innovative combinations of ingredients in these snacks are gaining immense popularity in the global market. Granola bars that are available in the market are of various flavors such as peanut butter, chocolate, caramel, banana, honey, and strawberry. For instance, an innovative combination of ingredients in Pamela’s Gluten-Free Oat Blueberry Lemon Whenever Bars has a cookie-like granola moist bar packed with fruit, grains, and other ingredients.
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This research report comprises of an exhaustive analysis of market shares and sizes of the sub-sections and geography. A breakdown of the key organizations, including their market shares, business overview, important financial reports, etc. is provided in this study. This market study also delivers a comprehensive analysis of key drivers, challenges, and opportunities influencing this market.
An exhaustive analysis is available in the Technavio report named, ‘Global Granola Bars Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global High-protein Based Food Market 2017-2021
- Global Oat-based Snacks Market 2017-2021
- Global Cereal Bars Market 2016-2020
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