The
global market for breakfast cereals is expected to exhibit a steady
growth over the coming years, as reported by Transparency Market
Research (TMR). The market is characterized with intense
competition. Companies are seen focusing on introduction of novel,
innovative products such as fiber-rich products, fruity flavors, and
products with lower oil and fat content. Market players are focusing
on consolidating their presence, in order to expand their
geographical horizon. Vendors are also focusing on catering to region
specific breakfast tastes in order to gain a strategic advantage over
their competitors.
Kellogg’s
have been the undisputable market leader since years. The other two
key markets, PepsiCo General Mills, also have significant market
shares. These three players collectively govern the global market
with over 50% of the revenue share. Other prominent players in the
global breakfast cereals market are Post Holdings, General Mills,
Cereal Partners Worldwide, Nestlé S.A., and Baggrys India Ltd.
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As
reported by TMR, the global breakfast cereals market is envisaged to
reach S$43.2 bn by 2019 from US$38.3 bn in 2013 over the forecast
period of 2013 to 2019. The market is prognosticated to rise at a
4.10% CAGR over the duration of forecast.
Among
the product types of breakfast cereals, the ready-to-eat segment
clearly holds the sway driven by their extensive uptake, especially
in developed nations. The growth in the segment will be fueled by the
vastly rising demand for ready-to-eat food products.
Geographically,
Asia Pacific is touted to be a lucrative regional market for
breakfast cereals. This could be ascribed to the regions booming
population and incrementing middle class population with changing
patterns of consuming breakfast.
Rising
Awareness of Consuming Healthy Food to Propel Market
Because
of their lower calorific values, these cereals are thought to be a
perfect breakfast alternative around the world. With rising awareness
about the significance of a solid breakfast, the interest for
breakfast cereals is expected to pick up a noteworthy lift.
Nourishing breakfast is as a rule progressively suggested for
physical health, bring down danger of perpetual maladies, adjusted
levels of insulin and cholesterol, enhanced memory, and numerous more
medical advantages. Breakfast
cereals shape a vital part of the packaged food industry, and
will keep on propelling as the industry flourishes.
Exotic
Flavors, Gluten Free Products to Emerge as Key Trends
Without
gluten cereals are inclining high in the market, particularly in
North America and Europe. A substantial number of imaginative and
enhanced alternatives in breakfast cereals are probably going to
hasten the market growth, particularly in developing markets.
Furthermore,
the introduction of breakfast cereals with innovative, exotic flavors
and inventive taste is probably going to make lucrative prospects in
the market in the years to come. Likewise, the quickly changing way
of life in developing countries will maintain the interest for
breakfast cereals. Various creative items dispatches in a few
developing and developed nations as of late is likewise emphasizing
the emergence of the global breakfast cereal market.
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