Global Breakfast Cereal Market: Size
The Global Breakfast Cereal Market size is expected to reach $52.3billion by 2023, rising at a market growth of 5% CAGR while the forecast period of time. Breakfast cereals come in various options; on the other hand, the essential ingredient is grains. Commonly used grains are oats, rice, barley, wheat, and also corn. Few hot cereals such as oatmeal do not contain another ingredient, during other variants can include coloring agents, yeast, salts, minerals, vitamins, sweeteners, and food preservatives. Increasing inclination towards on-the-go breakfast options, demand for organic cereals and also growing health awareness among consumers are the elements adding to the growth of the market.
Global breakfast cereals market: Share
The Global breakfast cereals market possesses a brand specific market value, where-in businesses and organizations such as Kellogg’s and also General Mills account for a majority market place relate. Market players are currently focusing on catering to region specific breakfast habits to promote their items and also increase their brand value. Therefore, brand loyalty and consumer orientation are important parameters for the market-place rate. Frequent mergers and acquisitions have been observed across the market. Manufacturing companies who offer product lines for on-the-go consumption have a lot more possibilities of increasing a good market-place share, as consumers are increasingly demanding for portable food items. Such as, McCann’s “a brand from World Finer Foods”. Artisan type of oatmeal packets are portable that can be cooked by using warm water. Like, McCann’s Irish Oatmeal, made from creamy rolled oats, takes less time to get baked. Therefore, the brand is successful in meeting the customer demand for convenience foods.
Global Breakfast Cereal Market: Growth
The breakfast cereals market has experienced a slight slowdown in development in the recent times owing the increased consumption of snack bars. The inclusion of gluten free cereals have fuelled the growth in the demand for breakfast cereals due to increase in the trend for gluten intolerance consumers across the globe. Rise in user requirement for snackification has a crucial reason for the development of breakfast cereals market. General Mills has introduced two cereals themed around Girl Scout cookies. One of the flavor is Thin Mints, a cereal that is sure to taste like chocolate wafers with a zing of spearmint. The other one is a Caramel Crunch, which flavors like the Caramel deLites cookies.
Global Breakfast Cereal Market: Segmentation
The Global Breakfast Cereal Market is widely identified by product type, ingredient type, distribution channels and also geography. By product type, ready to eat cereals accounted for the majority share primarily in the North American and European regions. The hot cereal segment is expected to register a high growth in the Asia-Pacific region. Rice, wheat, corn, barley, and oats are the primary ingredients found in breakfast cereals, where-in wheat based products account for a considerable share of the market demand. The numbers of convenience shops has increased, in the last decade, as a major distribution channel for cereal products.