According to a report by Grand View Research, Inc., global breakfast cereal market is anticipated to value USD 54.31 billion by 2025. Growing requirement for on-the-go breakfast coupled with rising health awareness among consumers is anticipated to propel demand for breakfast cereals.
Breakfast cereals are likely to offer gains as essential ingredients. The commonly used grains can include barley, wheat, oats, rice, and corn. Oatmeal is expected not to contain any other ingredient while other variants can include yeast, salts, coloring agents, sweeteners, and food preservatives.
Rising influence of westernization on food habits of middle-class population can contribute significantly towards demand for breakfast cereals. Continual advancements in food retail infrastructure coupled with growing awareness regarding benefits of consuming grain-based breakfast can fuel growth of market. Gradually changing purchasing behavior and eating habits of consumers is expected to influence growth of market in emerging economies. Growing middle-class population and rapid urbanization in these economies can result in changing lifestyle and demand for on-the-go meals among consumers. Moreover, rising number of consumers focusing on reducing calorie intake by cutting down their portion sizes and replacing conventional breakfast options with breakfast cereals can stimulate market growth during the forecast period (2014 to 2025).
Full Research Report On Breakfast Cereal Market Analysis: https://www.grandviewresearch.com/industry-analysis/breakfast-cereals-market
The breakfast cereal market can be segregated on the basis of product, distribution, and region.
Based on product, the market can be categorized into hot cereals and ready-to-eat (RTE) cereals. In 2016, RTE cereals dominated the market and accounted for 68% of global revenue share. The segment consists of cornflakes, bars, cookies, biscuits, and others. High demand for on-the-go meal options is likely to fuel consumption of breakfast cereal bars and biscuits. Growing awareness regarding fast, easy, and inexpensive meal options offered by RTE cereal segment can boost market growth. Moreover, rising adoption of cereal bars among kids owing to effective advertising strategies and attractive packaging can also fuel growth of market.
On the contrary, hot cereals segmented is expected to witness fast growth during the forecast period. Growing adoption of nutritious meal options in breakfast can surge demand for multi-grain cereals including seeds, grains, and beans. Numerous health benefits of including these organic and whole grain based cereals in diet can augment demand for hot cereals. Moreover, incorporation of exotic flavors into product variants to offer taste can gain traction among consumers.
Based on distribution, the market can be classified into e-commerce, convenience stores, supermarket, and others. In 2016, supermarket segment dominated the market and accounted for largest market share. It is expected to grow at similar pace during the forecast period attributed to increasing number of supermarkets globally. Initially these supermarkets were concentrated only to Europe and North America regions, but now they have expanded their presence across Middle East & Africa and Asia Pacific.
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Similarly, e-commerce segment is anticipated to emerge as prominent distribution channel across the globe. The segment is likely to generate considerable revenue from developed economies of Europe and North America owing to rising adoption of mobiles and internet. Online channels are expected to provide better access to branded merchandise and offer advanced shopping experience. In addition, these online channels are likely to gain popularity among lifestyle users in developed regions.
Regional segmentation includes Europe, North America, Asia Pacific, central & south America, and Middle East & Africa. In 2016, North America dominated the market and accounted for largest market share. Rising health concerns attributed to increasing health issues such as obesity, diabetes, and digestive disorders can fuel growth of region. In addition, continual innovations in terms of product & packaging coupled with growing adoption of new products among local consumers can surge product demand during the forecast period.
Similarly in Asia Pacific, the market is expected to witness significant growth owing to widening base of population indulged in busy lifestyles and demanding convenience food. In addition, high demand for natural and nutritional food products attributed to rising consumer awareness regarding healthy lifestyle can influence growth of market in the region.
Some of the leading companies offering breakfast cereal are Alara Whole Foods Ltd., Nestlé S.A., Kellogg Company, Bagrrys India Ltd., and Marico Limited.
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