A recent report published by Infinium Global Research on breakfast cereal market provides in depth analysis of segments and sub-segments in global as well as regional breakfast cereal market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional breakfast cereal market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global breakfast cereal market. According to report the global breakfast cereal market is projected to grow at a CAGR of 4.1% over the forecast period of 2018-2024.
Lifestyle changes worldwide and preferences for healthy food has brought about radial changes in the world food and beverages industry. The conventional breakfast is rapidly being replaced by breakfast cereals among the health conscious consumers. According to NHS, UK, diet high in fiber reduces the risk of heart diseases, and type 2 diabetes. Hence, the demand for breakfast cereals containing high whole grains and low sugar are more in demand these days. Breakfast cereals are enriched with the ingredients that contain high fiber such as oats, rice, barley, wheat and corn. Moreover, ingredients such as malt and vegetable oils are used in the processing of breakfast cereals. The consumption of the breakfast cereals among the children is growing at a rapid pace owing to increasing awareness among the parents about the health benefits of breakfast cereals and increasing TV commercials.
Emerging markets of Asia-Pacific and Latin America have experienced significant changes in the food consumption patterns, primarily due to improving economic conditions in the middle class families. Moreover, growing disposable income has led to increasing consumption of healthy food items. Moreover, the global breakfast cereals market is driven by factors such as growing awareness about the health benefits associated with the cereals and its ease in preparation, extensive awareness and marketing programs by the leading companies such as Kellogg’s among others and growing purchasing power parity of the consumers worldwide. On the other hand, the growth in this market is restrained by easy availability of conventional alternatives such as eggs, yogurt, sausages, puddings and waffles among others. Furthermore, health conscious consumers may also prefer other ingredients over palm oil and sweeteners that are used in the breakfast cereals. However, the product innovations and new recipes in the cereals is likely to create more opportunities over the forecast period.
Among the regions, North America accounted for the largest market share closely followed by Europe, while Asia-pacific region is projected to experience significant growth in this market over the forecast period. The growth in the Asia-pacific breakfast cereals market is projected to be the highest in terms of CAGR growth among the regions. Among the product types, the ready to eat cereals segment is projected to continue its dominance over the forecast period. The growth in this segment is attributed to growing busy lifestyles of the consumers and increased preferences for the ready meals. The young age groups are likely to play crucial role in promoting the growth in this market as they are likely to be highly influenced by the TV commercials and tastes of breakfast cereals.
The report on global breakfast cereal market covers segments such as, product type, ingredient type and distribution channel. On the basis of product type the global breakfast cereal market is categorized into ready to eat cereals and hot cereals. On the basis of ingredient type the global breakfast cereal market is categorized into barley, corn, rice and wheat. On the basis of distribution channel the global breakfast cereal market is categorized into convenience store, e-commerce, independent retailers, specialist retailers, hypermarkets and supermarkets and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global breakfast cereal market such as, Abbott Nutrition, Alara Whole Foods Ltd., Bobs Red Mill Natural Foods Inc., Carman's Fine Foods, Bagrrys India Ltd., General Mills, Inc., Kellogg Company, Marico Limited, Nestlé S.A. and Pepsico, Inc..
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global breakfast cereal market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of breakfast cereal market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the breakfast cereal market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the breakfast cereal market to understand the present and future trends in this market and formulate their strategies accordingly.
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