Granola is
an on-the-go breakfast snack, which is baked and consists of oats,
nuts, and sweeteners such as honey or sugar. Dried fruits such as
raisins and dates, are sometimes added to granola. Granola is
condensed into a bar making it easy carry for hiking, short trips or
other outdoor activities. It is consumed with fresh fruits such as
strawberries, bananas or blueberries, and other forms of cereal. It
also serves as a topping for desserts.
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Market
Dynamics
Various
health benefits associated with consumption of granola such as weight
management and its ability to maintain presence of healthy
ingredients such as vitamins, minerals, and omega 3 is expected to be
major factor for growth of the global granola market. There are
numerous brands such as ConAgra foods, Nestlé that offer products
containing high level of fibers that aids in weight maintenance and
to maintain digestive health. Granola, induced with flax seeds, is
helpful in improving digestion. The added health benefits and the
growing demand for granola is a major driver that is expected to
boost growth of the global granola market in the forecast period.
However,
presence of herbicides in granola-based products is a major restraint
negatively impacting growth of the global granola market. For
instance, according to a study by the U.S.-based Environmental
Working Group in 2018, a number of cereals, granola bars, and
oat-based products contained glyphosate, which is found to be
carcinogenic. These factors are expected to hamper growth of the
global granola market during the forecast period.
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Market
Trends
Rising
demand for vegan based products boosts demand for packaged snack food
items such as granola bars among consumers on a large scale. Hence,
manufactures are engaging in manufacturing a large variety of vegan
granola bars. For instance, Nature Valley Crunchy Granola Bars and
Earnest Eats Vegan Chewy Granola Bars are some vegan granola bars
available in the market.
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