Published Date : May 31, 2016
The global market for breakfast cereals is driving much demand from the rising emphasis on healthy living across the world. Supported by the escalating number of convenience stores and the rising brand visibility, the worldwide market is expected to record a healthy rise in the coming years. The changing breakfast habits of consumers, worldwide, is also likely to boost this market in the near future.
Asia Pacific to Acquire Dominance in Coming Years
The worldwide market for breakfast cereals spread across Asia Pacific, Europe, North America, and the Rest of the World. North America has been leading this market since the last few years. However, analysts expect it to report a decline in its market share in the forthcoming years. Asia Pacific is likely to register the fastest growth over the next few years, owing to the rapid rise in the China market for breakfast cereals.
Ready-To-Eat Segment to Maintain its Lead in Nearing Future
Hot cereals and ready-to-eat (RTE) cereals are the two main type of breakfast cereals available in the global market. The RTE cereals segment hold the largest share in the overall market. The busy lifestyle of consumers in developed countries is raising the popularity of RTE cereals, thereby increasing demand for them. This trend is projected to continue in the coming years, ensuring the future dominance of this segment.
International Players Focus on Reformulation of Existing Products
The global market for breakfast cereals exhibits a consolidated structure with only a few established players driving the overall market. The major companies operational in this market are Cereal Partners Worldwide, The Weetabix Food Co., PepsiCo, Kellogg Co., General Mills, and Post Holdings.
International market players are increasingly focusing on the reformulation of their existing products by replacing harmful oils and fats with much healthier ingredients such as fiber and fruits.