Growing adoption of convenience foods and rising health consciousness are likely to augment the demand for breakfast cereals over the forecast period. The Global Breakfast Cereal Market size is expected to reach USD 54.31 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.3% during the forecast period.
Surging demand for on-the-go breakfast options such as biscuits and cereal bars is anticipated to stoke market growth. Besides this, expanding base of health-conscious consumers and rising purchasing power are estimated to provide a fillip to the market. In recent times, a large number of consumers are focused on reducing calorie intake by cutting down their portion sizes and replacing traditional breakfast options with breakfast cereals. Moreover, rise in vegetarianism is influencing the market positively.
With increasing demand for breakfast cereals, manufacturers are adopting newer technologies and equipment to enhance shelf life of products. Innovative enzyme technologies and bioprocessing coupled with high-pressure processing technology are being utilized to improve the overall safety, quality, and nutritional traits of oats-based foods.
Consciousness among people to consume healthy products, mostly in western countries, plays a vital role in generating demand. Rising awareness among people in emerging economies regarding health benefits associated with breakfast cereals is poised to create ample opportunities for new market entrants.
Breakfast cereals are distributed across the globe through three primary channels including supermarkets, convenience stores, and e-commerce. Supermarkets dominated the market in 2016 and held over 51.0% of the overall revenue. They offer tremendous benefits such as wide display, huge product lines, attractive product pricing, product promotions, and replacement options.
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Top Players of Breakfast Cereal Market:
Market players such as B&G Foods, Inc.; Marico Limited; Bob's Red Mill Natural Foods, Inc.; Bagrrys India Limited; and PepsiCo, Inc.
The Kellogg Company, Nestle SA, and Cereal Partners Worldwide, which is a joint venture between Nestle CPW and General Mills Inc., are working into a collaborative agreement along with the Australian Government and other public health groups to promote incorporation of healthy and nutritious food into diets of Australians.
Market Segmentation of Breakfast Cereal Market:
The Global Breakfast Cereal Market segmented on the basis of Product, Distribution Channel, and Region.
By Product:
Ready-to-eat (RTE)
Hot cereals
By Channel:
Supermarket
Convenience Stores
E-Commerce
By Region:
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
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