Breakfast Cereals Market Global Trend, Segmentation and Opportunities, Forecast to 2027
Global Breakfast Cereals Market – Overview
The emerging
market opportunities for breakfast cereals appear to be conducive for the
acceptance of convenience food in Europe and North America region. Market
Research Future, a firm which specializes in market reports related to the
Food, Beverages & Nutrition sector among others, recently forecasted in its
report on global Breakfast Cereals Market Research Report- Forecast to 2023
that the market will demonstrate an exceptional CAGR % while achieving million
dollar growth readily in the forecast period.
With changing
lifestyle and evolving dietary pattern, convenience food plays an important
role in defining the consumers’ food choices in the modern world. The trend of
consumption of convenience food began in western world and spread to other
regions rapidly. Looking at the development of Asian countries, the increasing
purchasing power of consumers, convenience trends are likely to remain
significant. The increasing consumption of convenience food is driven by this
desire to create more leisure time which means that consumers like to maximize
their free time along with their disposable income and spend more time doing the
things they value more.
Consumers
look for convenience food which is easy to use and possess nutritional value.
So, breakfast cereals are becoming one of the popular food among the consumers.
Apart from that, growing working women population in developing economies is
considered to be significant factor for the rising growth of breakfast cereal.
Rising consumer awareness towards the health benefits of breakfast cereals is
expected to fuel the sales of breakfast
cereal during the forecast period of 2017-2023. Breakfast
cereals are gaining huge popularity in the baby food due to the nutritional
value and ease of preparation. Premiumization is one of the important trends which
is gaining its momentum in the developed countries in the breakfast cereal
market because consumers are inclined to adopt high quality product instead of
the normal product due to its nutritional value.
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Report @ https://www.marketresearchfuture.com/reports/breakfast-cereals-market-2202
Latest
Industry Updates
November 2017
Kellogg Co. has made a collaboration with Nintendo to launch new breakfast cereal
“Super Mario Cereal”
October 2017
Kellogg Co. introduced new breakfast cereals product under the brand name of
“Chocos Fills” in India
August 2017
Nestle S.A. launched breakfast cereal under the brand name of “Ceregrow”
especially for the kids
June 2016
General Mills, Inc. introduced their first breakfast cereal under the brand
name of “Tiny Toast” in blueberries and strawberries flavored
May 2016
Kellogg Co. launched breakfast cereals under the brand name of “Raisin Bran
Granola” and “Special K”
Global
Breakfast Cereals Market - Competitive Analysis
Key
manufacturers are focusing to enhance its brand name by arranging various
promotional activities. The company has participated in various social media
promotions, events and interaction with the consumers. The manufacturers have
demonstrated their new product offerings in order to attract the new customers.
By this strategy the product of the company will be popular among the consumers
which will aid to increase the overall profitability of the company.
Moreover, the
key players are emphasizing in the research & development process in order
to introduce new product also to extend the product line. Key players are
introducing new breakfast cereals in different flavored to increase the volume
sales and also to increase the overall revenue of the company. In addition,
manufacturers focus on effective packaging design as it has noticeable impact
on consumers’ shopping behavior. Packaging plays a significant role in product
marketing for any business that makes or sells products and act as selling
point for many consumers by delivering a sense of quality and reflect the
product’s brand image.
The key
players profiled in breakfast cereals are Kellogg Co. (U.S.), General Mills
(U.S.), Post Holdings Inc. (U.S.), PepsiCo. (U.S.), Cereal Partners Worldwide
(CPW) (Switzerland), Weetabix Ltd. (U.K.), The Jordans & Ryvita Company
(UK), TreeHouse Foods (U.S.), and Nature’s Path (Canada) among many others.
Global
Breakfast Cereals Market – Segments
Global
Breakfast Cereals market has been divided into type, source, form and Region
On the Basis
of Type: Ready-to-eat, and hot cereals
On the Basis
of Source: Wheat, rice, oat, corn, barley, and others
On the Basis
of Form: Hot breakfast cereals, and cold breakfast cereals
On the Basis
of Region: North America, Europe, Asia Pacific, and Rest of the World
Global
Breakfast Cereals Market - Regional Analysis
The global
Breakfast Cereals market is segmented into North America, Europe, Asia Pacific
and Rest of the World. Among all the region, North America region is estimated
to retain its dominance throughout the forecast period of 2017-2023. The U.S.
is the major country in North American region. It holds 30% market proportion
in the global Breakfast Cereals market in the year of 2017. The growth of the
Breakfast Cereals market in North America is expected to be driven by various
factors. One of the significant factors for the rising growth of breakfast
cereal market in North America is busy lifestyles of the consumers coupled with
introduction of new product launch by the key players of breakfast cereal.
However, Asia
Pacific region is projected to expand at a high pace in the upcoming decade.
The growth of the Asia Pacific region is attributed to the new product launch
by the key manufacturers and consumers are seeking to the ready to food
products instead of the traditional breakfast. Also, consumers in Asia Pacific
are increasingly accepting western culture which in turn accelerates the sales
if breakfast cereals during the forecast period of 2017-2023. Among the Asia
Pacific countries, China and India are the major countries among the breakfast
cereals manufacturers.
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its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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