The present disclosure relates to barley based compositions comprising barley, cereals, pulses, spices, dry fruits and natural flavoring agents. The ingredients are present in pre-determined proportion to each other. Various food products can be prepared from the barley based compositions, which can be consumed by healthy individuals as well as individuals suffering from obesity, dyslipidemia, diabetes, pre-diabetes (metabolic syndrome), cardiovascular diseases, and the like. The present disclosure also provides processes for preparing the barley based compositions.