The Latin America, Middle East and Africa Granola Bars Market would witness market growth of 7.3% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 80.0 million units (pack of 6), showcasing a growth of 8.5% (2024-2031).
Convenience stores are positioned strategically in high-traffic locations such as urban centers, gas stations, and transportation hubs, convenience stores cater to busy individuals seeking portable and satisfying snacks like granola bars. Their extended operating hours and minimal wait times make them ideal destinations for spontaneous purchases, especially during peak travel times or moments of hunger between meals. Thus, in Argentina, it is expected that 1.50 million units of Granola bars would be sold through Convenience stores by the year 2031.
The Brazil market dominated the LAMEA Granola Bars Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $179.3 million by 2031. The Argentina market is capturing a CAGR of 8.2% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 7% during (2024 - 2031).
With growing concerns about obesity rates, chronic diseases, and the impact of diet on overall health, consumers are becoming more mindful of their food choices. Granola bars, particularly those made with natural, wholesome ingredients, are perceived as a healthier alternative to traditional snacks like chips, cookies, and candy bars. They often contain whole grains, nuts, seeds, and dried fruits, balancing carbohydrates, protein, and healthy fats to satisfy and energize consumers.
Similarly, the diverse granola bar options cater to various dietary preferences and restrictions, including gluten-free, vegan, paleo, and keto diets. This inclusivity ensures that individuals with specific dietary needs can enjoy granola bars’ convenience and nutritional benefits without compromising their health goals or lifestyle choices.
As the food retail industry grows in UAE, there is likely to be an increase in consumer purchasing power and demand for various food products, including healthier options like granola bars. Consumers are becoming more health-conscious and seeking convenient, nutritious snacks, which can drive up the demand for granola bars. According to the United States Department of Agriculture data, UAE is the second largest foodservice sector within the Arab Gulf Cooperation Council (GCC) region after Saudi Arabia.
In 2021, the value of the UAE hotel, restaurant, and institutional sector totaled $12.3 billion, almost a 17 per cent increase from 2020. Also, urbanization and changing lifestyles in UAE have increased demand for convenient, on-the-go snack options. Granola bars fit well into this trend as a portable, easy-to-consume snack appealing to busy urban consumers. Thus, the growing food industry and expansion of the food retail sector in the region are driving the growth of the granola bars market.
Free Valuable Insights: The Worldwide Granola Bars Market is Projected to reach USD 8.7 Billion by 2031, at a CAGR of 7%
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product Type (Volume, Million Units (Pack of 6), USD Billion, 2020-2031)
By Distribution Channel (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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