The
vendor landscape of the global breakfast cereals market includes
companies such as PepsiCo., Kellogg Co., General Mills, Cereal
Partners Worldwide, Post Holdings, and the Weetabix Food Company. The
market players are introducing innovative flavors in breakfast
cereals to cater to customers across different regions. The U.S. had
been the pioneer market for breakfast cereals. However, during the
forecast period, Asia Pacific is anticipated to emerge as the fastest
growing breakfast
cereals market, ahead of North America and Europe. In fact,
North America and Europe are anticipated to register a decline in the
demand for breakfast cereals whereas Asia Pacific is projected to
account for around 13% of the overall market by the end of 2019.
As
a result, the market players are narrowing down their strategies to
expand in this region. The market players are focusing on
region-specific breakfast habits to promote their products
accordingly. For example, Chinese consumers prefer hot breakfasts
containing rice. Hence, the manufacturers are introducing hot
breakfast cereals to appeal to customers. “Though China remains a
challenging market for these companies, the nation is anticipated to
register a strong demand due to hectic lifestyles and an increase in
number of young consumers preferring breakfast cereals over
traditional Chinese breakfast,” cites a TMR analyst.
Asia
Pacific Drives Demand for Hot Breakfast Cereals
Among
the major types of breakfast cereals, ready-to-eat (RTE) breakfast
cereals are more popular across North America and Europe. About 85%
of the overall demand for breakfast cereals across these regions
consists of RTE cereals. The busy lifestyles of consumers in these
regions can be attributed to the growing demand for RTE cereals.
However, Asia Pacific proves to be new ground for the breakfast
cereals manufacturers as a majority of consumers prefer hot breakfast
at the start of the day. Hence, the hot cereals segment is
anticipated to register a positive growth in this region and is
expected to hold 18% of the overall market by 2019.
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Sourcing
of Palm Oil Emerges as a Big Threat for Cereal Manufacturers
Change
in breakfast habits across the emerging economies has played a
pivotal role in the growth of the global breakfast cereals market.
The rise in the number of convenience stores in developing nations
has increased the brand visibility of breakfast cereals, thereby
contributing towards their sale. However, the availability of
alternative breakfast options such as baked food products and
inexpensive breakfast options from fast food chains might play
spoilsport in the growth of the market. Furthermore, the sourcing of
palm oil is developing into a big threat for the cereals
manufacturers. The global breakfast cereals market has a significant
opportunity to grow with the launch of new flavors by the key
manufacturers.
The
global breakfast cereals market is anticipated to expand at a CAGR of
4.10% during the period between 2013 and 2019. The overall market was
valued at US$32.5 bn in 2012 and is expected to be worth US$43.2 bn
by the end of 2019.
The
information presented in this review is based on a Transparency
Market Research report, titled “Breakfast Cereals Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 -
2019.”
Global
breakfast cereals market has been segmented as:
Segmentation
of the global breakfast cereals market by product type:
- Hot Cereals
- Ready to Eat Cereals
Major
regions analyzed in this research report are:
- Europe
- North America
- Asia Pacific
- Rest of the World
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