Breakfast Cereals Market - Growth, Trends and Forecasts (2019 - 2024)

Market Insight

The highly concentrated global breakfast cereals market is currently driven by changing food habits and influence of western culture on dietary patterns of consumers in many developing economies. The market leaders are innovating their product offerings to cater to the diversified customer interests throughout the world. The global breakfast cereals market was estimated at USD 47.10 billion in 2016 and is poised to grow at a CAGR of 4.5% during the forecast period, to reach USD 58.73 billion by 2022.

The breakfast cereals market has experienced a slight slowdown in growth in the recent years due to the increase in consumption of snack bars. The inclusion of gluten free cereals have fuelled the growth in the demand for breakfast cereals owing to rise in the trend for gluten intolerance consumers across the globe. Rise in consumer demand for “snackification” has been a crucial factor for the growth of breakfast cereals market.

General Mills has launched 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 tastes like the Caramel deLites cookies.

Market Dynamics

Changing breakfast habits and demographics across the emerging economies have been acting as the major growth drivers for global demand of breakfast cereals. The increasing preference of western dietary patterns has further led to the growth of global breakfast cereals market in the recent past. The wide assortment of alternative breakfast items specific to every region and inexpensive breakfast options may create obstacles for the growth of the market. The breakfast cereals market has an opportunity to grow tremendously due to the ongoing product innovation in the flavors and inclusion organic ingredients in breakfast cereals.

Market Segmentation

The global breakfast cereals market is broadly classified by product type, ingredient type, distribution channels and 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 anticipated to register a high growth in the Asia-Pacific region. Rice, wheat, corn, barley, and oats are the major ingredients found in breakfast cereals, wherein wheat based products account for a considerable share of the market demand. The number of convenience stores has increased, in the last decade, as a major distribution channel for cereal products.

 Regional Analysis

The North America market, led by the United States, holds the majority of the global breakfast cereal market demand, followed by Europe. Asia- Pacific is predicted to grow at an accelerating rate over the forecast period 2017-2022. Consumers in Asian countries like China and India prefer hot cereals containing rice or wheat as major ingredients. These nations are anticipated to register a high growth owing to rise in consumer preferences for ready to eat meals coupled with busy lifestyles in this region.

Competitive Environment

Global breakfast cereals market possesses a brand specific market value, wherein companies like Kellogg’s and General Mills account for a majority market share. Market players are currently focusing on catering to region specific breakfast habits to promote their products and increase their brand value. Hence, brand loyalty and customer orientation are significant parameters for the market value. Frequent mergers and acquisitions have been observed across the industry.

Some of the leading players in market include-

• General Mills
• Kellogg Company
• Nestle S.A.
• PepsiCo Inc.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.

Customization of the Report

• Value chain analysis
• Volume of the Global Breakfast Cereals Market 
• Consumer behavior analysis in country level

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