The Asia Pacific Granola Bars Market would witness market growth of 5.6% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 203.8 million units (pack of 6), showcasing a growth of 11.2% (2020-2023).
Departmental stores cater to a diverse customer base seeking high-quality products, including health-conscious individuals looking for wholesome snack options like granola bars. Departmental stores often feature dedicated sections or aisles for health foods and snacks, where granola bars are prominently displayed alongside other nutritious offerings. Hence, in Japan, 10.47 million units of Granola Bars were sold through Departmental stores in the year 2023.
The China market dominated the Asia Pacific Granola Bars Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $636.5 million by 2031. The Japan market is registering a CAGR of 4.9% during (2024 - 2031). Additionally, The India market would capture a CAGR of 6.3% during (2024 - 2031).
Granola bars formulated with mood-boosting ingredients, such as dark chocolate, nuts, and berries rich in antioxidants and serotonin precursors, cater to consumers seeking snacks that support mental well-being and emotional balance. Granola bars with innovative textures, such as crispy clusters, chewy bites, or creamy fillings, enhance sensory experiences and differentiate products in the competitive snack Industry, appealing to consumers’ preferences for varied mouthfeel and texture sensations.
The adoption of granola bars has surged in recent years, propelled by shifting consumer preferences towards healthier snacking options and the increasing demand for convenient, on-the-go foods. Convenience is paramount in today’s fast-paced world, and granola bars offer a quick and easy snack solution for busy individuals. Whether rushing to work in the morning, running errands, or hitting the gym, granola bars provide a portable source of energy that can be enjoyed anytime, anywhere, without the need for preparation or refrigeration.
As the food industry in China grows, there’s likely an increase in consumer purchasing power and demand for diverse food products. This presents an opportunity for granola bar manufacturers to expand their market presence and reach a larger consumer base. According to the State Council of the People’s Republic of China, China’s food industry saw stable expansion in terms of production and sales in the first half of the year (H1). During that time, the agricultural and secondary food processing sectors saw an increase in value-added industrial output of 3.3% on an annual basis. In comparison, the food manufacturing sector climbed 4.1 per cent year-on-year. Hence, the increasing food industry and rising retail sector in the region drive the market’s growth.
Free Valuable Insights: The Global Granola Bars Market is Predict to reach USD 8.7 Billion by 2031, at a CAGR of 5%
Based on Product Type, the market is segmented into Conventional, and Organic. Based on Distribution Channel, the market is segmented into Supermarket & Hypermarket, Departmental Stores, Convenience Stores, Online Sales Channel, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Country (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
By Country (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
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