Breakfast Cereals Market is expected to grow at the CAGR of 5%. Inclusion of various flavors and nutrition rich ingredients is encouraging higher sales of breakfast cereals. Rising demand for natural and healthy food in developed countries is also influencing the market growth. Governments in developed countries are promoting the breakfast cereals as a healthy food and helping the manufacturers with regulations which is supporting the market growth.
With changing lifestyle and evolving dietary pattern, convenience food plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of convenience food began in western world and spread to other regions rapidly. Looking at the development of Asian countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant. The increasing consumption of convenience food is driven by this desire to create more leisure time which means that consumers like to maximize their free time along with their disposable income and spend more time doing the things they value more.
Most of the breakfast cereals are produced through extrusion. Breakfast cereals have a very long history and is readily acceptable by many consumers globally. The revolution in the ingredient inclusion from the overnight soaking of heavy bran and graham nuggets from New York to the recent RTE breakfast cereal which was introduced in the United Kingdom has encouraged various breakfast cereals producers to innovate their products. In general, consumer surveys are done by the breakfast cereals producers or indirectly through consumer research/market research companies to target the right consumer for their products. Various innovations have also been carried in terms of processing technology of breakfast cereals in its entire value chain which in turn has resulted in increase of product launches.
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Consumers look for convenience food which is easy to use and possess nutritional value. So, breakfast cereals are becoming one of the popular food among the consumers. Apart from that, growing working women population in developing economies is considered to be significant factor for the rising growth of breakfast cereal. Rising consumer awareness towards the health benefits of breakfast cereals is expected to fuel the sales of breakfast cereal during the forecast period of 2017-2023. Breakfast cereals are gaining huge popularity in the baby food due to the nutritional value and ease of preparation. Premiumization is one of the important trends which is gaining its momentum in the developed countries in the breakfast cereal market because consumers are inclined to adopt high quality product instead of the normal product due to its nutritional value.
Major Key Players:
The key players profiled in the Breakfast Cereals Market are Post Holdings Inc. (U.S.), Pepsi Co. (U.S.), Cereal Partners Worldwide (CPW) (Switzerland), Kellogg Co. (U.S.), General Mills (U.S.), Weetabix Ltd. (U.K.), The Jordans & Ryvita Company (UK), TreeHouse Foods (U.S.), and Nature’s Path (Canada).
Latest Industry Updates:
November 2017 Kellogg Co. has made a collaboration with Nintendo to launch new breakfast cereal “Super Mario Cereal”
October 2017 Kellogg Co. introduced new breakfast cereals product under the brand name of “Chocos Fills” in India
August 2017 Nestle S.A. launched breakfast cereal under the brand name of “Ceregrow” especially for the kids
June 2016 General Mills, Inc. introduced their first breakfast cereal under the brand name of “Tiny Toast” in blueberries and strawberries flavored
May 2016 Kellogg Co. launched breakfast cereals under the brand name of “Raisin Bran Granola” and “Special K”
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Among various forms flakes and in terms of flavors chocolate are in recent trend. U.S. and Canada dominate the breakfast cereals market
Breakfast cereals is segmented based on form which comprises of hot breakfast cereals and cold breakfast cereals. Breakfast cereals market has been segmented based on type which comprises of ready to eat (RTE) and hot cereals. Breakfast cereals has been segmented based on source which comprises of wheat, rice, oat, corn, barley and others
Breakfast Cereals Market is segmented into Europe, Asia Pacific, North America and rest of the world (ROW). Among these North American region has the major market share with U.S and Canada having a strong presence of breakfast cereals manufacturers. Growing positive attitudes towards healthy foods and changing consumer patterns with evolving dietary patterns are driving the breakfast cereals market growth globally. Breakfast cereals in U.S. and Canada has been significantly growing since last few years. In the westerns parts of the world mainly America, cereals are mostly fortified with vitamins.
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