Global Breakfast Cereals Market Outlook, Industry Analysis and forecast forecast year
Summary – A new market study, “Global
Breakfast Cereals Market -2019-2026”has been featured on WiseGuyReports.
Global Breakfast Cereals Market
Overview
The global breakfast
cereals market is expected to register 7.1% CAGR between 2018 and 2026 and will
grow by USD 59.1 billion in 2026.
The fast-paced lifestyles across the globe has been forcing traditional breakfast foods such as porridges, buns and breads to get replaced by convenient products. The on-the-go Breakfast cereals evolved as healthy alternative owing to its nutritional benefits and convenience. Breakfast cereals are conventional food categories processed from grains such as Wheat, Oats, Rice, and Corn. Breakfast cereals are high in fiber and nutrients, and contain very low cholesterol. These food products are available as hot cereals and ready to eat cereals.
Market Dynamics:
Drivers, Restraints, Opportunities Challenges:
The global breakfast
cereals market growth is majorly driven by the need for nutritious food as
breakfast to help fuel the physical and mental health. Rising risk of diseases
such as Diabetes, Obesity, and cardiac issues owing to sedentary lifestyles is
motivating people towards consumption of low-calorie food, thereby boosting the
demand for breakfast cereals. A porridge made of whole grains contain zero cholesterol,
thus making it ideal food for heart health. Furthermore, the growing cereal
production across the world is also supporting the growth of breakfast cereals
market. According to OECD-FAO Agricultural Outlook 2018-2027, the global cereal
production is likely to grow by 13% between 2018 and 2027. The consumption of
cereals is projected to witness 14% growth over the same period to reach 2.9
billion tons in 2027 and this growth is attributable to human food uses. The
development of organic cereals is estimated to provide new growth avenues to
the breakfast cereals market over the forecast period. Organic cereals are
holding the health-savvy population who would otherwise shift towards
alternatives owing to GMO issues of cereals.
The adverse health
effects of cereals on human health if consumed heavily is hindering the growth
of Breakfast Cereals Market. Over consumption of cereals increase the risk of
Arthritis. Furthermore, added sugar content of these products is limiting the
growth of the market. The manufacturers of breakfast cereals add artificial
sweeteners to enhance the consumer sensory experience. However, over intake of
sugar may result in type-2 Diabetes and heart disease.
Key Segments
Global Breakfast
Cereals Market By Product Type:
• Bars
• Flakes
• Fillows
• Granola
• Others
Among all, flakes is
the largest segment with wide consumer base and a significant market share.
Most of the renowned companies including Kellogg’s, Nestle, and General Mills
are promoting flakes processed from Corn and Wheat as one of their key
breakfast cereal products owing to the demand for this products. Moreover,
companies are focusing towards flavored cereal products with high sugar content
to gain significant traction among kids. Apple, cranberries, strawberries, and
coconut are the major flavors available in the global market. The potential of
these flavors to balance the inherent taste of cereal bases is enhancing the
consumer spectrum for flavored breakfast cereals among adult population.
Geographical
Landscape
North America is
dominating the global Breakfast Cereals Market in 2018 and estimated to hold a
share of 39% in 2018 owing to the large consumer base for these products. Need
for ready to eat food coupled with modernization made North America along with
several European nations as the early adopter of breakfast cereals. However,
Asia Pacific region evolved as the fastest growing market for breakfast cereals
owing to the rising disposable income, growing retail market and convenience
stores in the region.
Competition
Landscape:
Many startup
companies have recently entered into the market with innovative product
formulations and are boosting sales significantly. For instance, Bangalore
based Kottaram Agro Foods Pvt Ltd that makes breakfast cereals under the brand
Soulfull received an investment of $5.37 million in March 2018. The sales of
the company is likely to grow by 5X times by the end of 2019.
The Breakfast
Cereals Market is highly competitive with new players entering the market. Some
of the major players include The Kellogg Company, General Mills, Inc., Nestlé
S.A., PepsiCo, Inc., and Clif Bar & Company. The key players are adopting
various key strategies such as product launches, collaborations, mergers &
acquisitions which are contributing to the growth of the Breakfast Cereals
Market globally. For instance,
The Kellogg Company
is eyeing to buy a stake in Indian based Haldiram's to boost its snack business
in the country. The alliance will also provide an opportunity to diversify its
portfolio of breakfast cereals in Western India.
In June 2016, The Kellogg Company acquired Pure Organic, U.S. based manufacturer of organic breakfast bars. This acquisition marked the boom of organic cereals in the breakfast cereals market.
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