Cereals Market Research Analysis | Industry Report 2019
Added: (Fri Jul 12 2019)
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Market Overview:
The global breakfast cereal market size was valued at USD 37.44 billion in 2018. It is predicted to grow at an increasing CAGR of 4.3% from 2018 to 2023. The growing popularity of on-the-go breakfasts, combined with surging demand for organic cereals and increasing health awareness among shoppers, is one of the significant trends accelerating market growth. The increasing influence of westernization on food habits of middle-class population is additionally contributing importantly towards the demand for breakfast cereals in the Asia Pacific. Advancing food retail infrastructure together with increasing awareness concerning the health benefits of consuming grain-based breakfasts is more supporting the expansion of the market.
Market Drivers and Restraints:
Emerging economies are witnessing a paradigm shift within the buying behavior and eating habits of shoppers. Rapid urbanization and increase of the middle-class population in these economies are leading to changing lifestyle and growth in demand for on-the-go choices of meals. As cereals are thought to supply various health benefits and are easy to prepare, they are witnessing increased demand from shoppers globally. Demand for breakfast cereal is held back by a large availability of alternatives. Most shoppers prefer consuming eggs, smoothies, frozen waffles, yogurt, sausage, puddings, and other conventional breakfasts that are beneficial and made up fresh ingredients. Furthermore, easier availability of convenient low-priced and wholesome meal choices is posing a threat to the demand for cereals. Few health-conscious shoppers tend to prefer other breakfast alternatives on account of the presence of sugar as well as other food preservatives that are added to improve the shelf life of these products.
Geographical Analysis:
North America ruled the overall market in 2018, followed by Europe. Growing health issues and increasing health problems like diabetes, obesity, and digestive disorders are supplementing the expansion of the region. Furthermore, product & packaging innovations coupled with the high adoption rate of the latest products in countries within the region are expected to play a vital role in increasing the demand for the merchandise over the forecast period. Quickly growing economies in the Asia Pacific are in the lead by widening the base of the populace which are indulged in busy lifestyles. This, in turn, helps in stirring up the market demand for convenience foods that are functioning in favor of the regional market. Increasing demand for natural nutritional products owing to increasing client awareness concerning healthful lifestyles is poised to trigger demand for breakfast food in APAC within the forecast period.
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Report segmented as:
By Type:
• Hot Cereals
• Ready to eat Cereals
By Ingredient Type:
• Rice
• Wheat
• Corn
• Barley
• Others
By Distribution Channel:
• Hypermarkets and Supermarkets
• Independent Retailers
• Specialist Retailers
• Convenience Stores
• Others
Important Market Players:
Major contributors to breakfast cereals market are general mills, Kellogg, Nestle, Sanitarium Health, Attune foods, Coca Cola Co., Bob’s Red Mill Natural Foods and PepsiCo. These players constitute over 50% of the overall revenue. Innovation, Brand loyalty, and economies of scale are serving the companies to develop their core competencies. Initiatives are taken by key participants that include vital alliances and joint venture. Cereal Partner global is a 50-50 partnership between Nestle and General Mills. The joint venture is about ready to eat cereal. Kellogg acquired an Egypt based company Mass Food Group to expand its business in Africa and Egypt.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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