Transparency
Market Research has published a new report on the global breakfast
cereals market. According to the report, the global
breakfast cereals market is predicted to progress from US$32.5 bn
in 2012 to US$43.2 bn by 2019. The report, titled ‘Breakfast
Cereals Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 - 2019,’ states that the global breakfast
cereals market is expected to expand at a 4.10% CAGR during the
period from 2013 to 2019 owing to factors such as the rising demand
for convenience foods and the growing number of convenience stores
across the globe.
Globally,
breakfast cereals are available in two types, namely ready-to-eat and
hot cereals. The demand for ready-to-eat breakfast cereals is
constantly increasing due to the minimal preparation time they
require. As per recent research, 85% of the total demand for
breakfast cereals from Europe and North America was for ready-to-eat
products. On the contrary, the demand for hot breakfast cereals was
higher in Asia Pacific. By 2019, in terms of value, the hot breakfast
cereals segment is expected to account for 18% of the global
breakfast cereals market. Thus, the growing demand for both
ready-to-eat and hot breakfast cereals is expected to propel the
global breakfast cereals market in the next few years.
Being
initially popularized in the United States, breakfast cereals are now
commonly consumed by people from across the globe. Since the past few
decades, a wide variety of breakfast cereals have been introduced
across all developed economies. Due to the increasing popularity of
convenience foods, the number of convenience stores has gone up in
the recent past. The rising preference for Western dietary patterns,
especially in developing economies, has led to the growth of the
global breakfast cereals market in the recent few years. Going
forward, the global breakfast cereals market is expected to register
considerable growth due to the constant increase in the number of
convenience stores.
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The
global breakfast cereals market is segmented on the basis of region
and product type. By region, the global breakfast cereals market is
divided into Asia Pacific, Europe, North America, and Rest of the
World. Since 2006, there have been many changes in the eating habits
of people in Asia Pacific due to growing urbanization and the growing
middle-class population. As per the World Bank, the middle-class
population in India and China was 430 million in 2010 and is expected
to reach 1.2 billion by 2030. People in these nations are shifting
their breakfast preferences from heavy foods to packaged cereals.
This is expected to propel the Asia Pacific breakfast cereals market
in the next few years. Furthermore, the growing number of convenience
stores in this region is considerably improving the brand visibility
for manufacturers of breakfast cereals.
The
increasing acceptance of convenience foods is expected to boost the
global breakfast cereals market in the near future. With a busy
lifestyle, the preference of people is shifting towards canned food,
ready-to-eat food, and preserved food. Leading players are
concentrating on introducing more varieties of breakfast cereals in
the global market to match the changing tastes of people. Some of the
leading players in the global breakfast cereals market are Post
Holdings, Cereal Partners Worldwide, PepsiCo, Kellogg Co., and
General Mills.
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