Abstract: A composite material containing reinforcing fibers A and a matrix resin, the reinforcing fibers A being discontinuous fibers having a fiber length of at least 5 mm and containing reinforcing fibers A1 having a bundle width of less than 0.3 mm and a reinforcing fiber bundle A2 having a fiber width of 0.3-3.0 mm, inclusive, wherein the coefficient of variation CViA2 of VfiA2 is 35% or less in at least a minimum bundle width zone (i=1) and a maximum bundle width zone (i=n) when the reinforcing fiber bundle A2 is divided into a pre-set plurality of bundle width zones (total number of bundle width zones n?3) and the volume ratio of the reinforcing fiber bundle A2 in each bundle width zone is VfiA2. Also, a method for producing a molded article which uses the composite material.