Published Date : Feb 26, 2016
The global market for breakfast cereals has cashed in on the rising demand for healthy food products that are ready to eat and are convenient for consumption and are widely available. The convenience offered by breakfast cereal is a boon for the rapidly rising population of people in urban parts of the globe to whom having healthy meals is no less than a challenge owing to their hectic lifestyles.
The rising number of working women in developing parts of the globe is also a major factor boosting the adoption of ready to eat food products for daily meals. Breakfast, which has traditionally been perceived as a home-cooked meal, is also being increasingly dependent on healthy pre-packed or ready to eat products such as breakfast cereals.
The rising availability of a variety of types of breakfast cereals in certain developing regions of the globe, which have seen a significant improvement in GDPs and continuous rise in the disposable incomes of the population, has significantly boosted the demand for breakfast cereals in these regions. The rising adoption of Western dietary habits in regions such as Asia Pacific has also boosted the demand for breakfast cereals.
Breakfast cereals are now considered an irreplaceable commodity in today’s kitchens. Other than the convenience of consumption granted by breakfast cereals, their ubiquity in traditional as well as modern retail outlets such as convenience stores, malls, supermarkets, and hypermarkets is also a major factor driving their increased adoption.
The heightened brand visibility of breakfast cereals, combined with their economic price structures have made them a hit among households.
Although the widespread availability of breakfast cereals have made them acceptable by much wider consumer base, their sale through convenience store chains also make them viable to tough competition from other breakfast options. The easy availability of several other types of food products specially aimed for breakfast is a major challenge for the global breakfast cereals market. Companies can overcome this challenge by improving consumer experience through high quality, variety, and innovativeness in their product offerings.