The global market for breakfast cereals is expected to exhibit a steady growth over the coming years, as reported by Transparency Market Research (TMR). The market is characterized with intense competition. Companies are seen focusing on introduction of novel, innovative products such as fiber-rich products, fruity flavors, and products with lower oil and fat content. Market players are focusing on consolidating their presence, in order to expand their geographical horizon. Vendors are also focusing on catering to region specific breakfast tastes in order to gain a strategic advantage over their competitors.
Kellogg’s have been the undisputable market leader since years. The other two key markets, PepsiCo General Mills, also have significant market shares. These three players collectively govern the global market with over 50% of the revenue share. Other prominent players in the global breakfast cereals market are Post Holdings, General Mills, Cereal Partners Worldwide, Nestlé S.A., and Baggrys India Ltd.
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As reported by TMR, the global breakfast cereals market is envisaged to reach S$43.2 bn by 2019 from US$38.3 bn in 2013 over the forecast period of 2013 to 2019. The market is prognosticated to rise at a 4.10% CAGR over the duration of forecast.
Among the product types of breakfast cereals, the ready-to-eat segment clearly holds the sway driven by their extensive uptake, especially in developed nations. The growth in the segment will be fueled by the vastly rising demand for ready-to-eat food products.
Rising Awareness of Consuming Healthy Food to Propel Market
Because of their lower calorific values, these cereals are thought to be a perfect breakfast alternative around the world. With rising awareness about the significance of a solid breakfast, the interest for breakfast cereals is expected to pick up a noteworthy lift. Nourishing breakfast is as a rule progressively suggested for physical health, bring down danger of perpetual maladies, adjusted levels of insulin and cholesterol, enhanced memory, and numerous more medical advantages. Breakfast cereals shape a vital part of the packaged food industry, and will keep on propelling as the industry flourishes.
Exotic Flavors, Gluten Free Products to Emerge as Key Trends
Without gluten cereals are inclining high in the market, particularly in North America and Europe. A substantial number of imaginative and enhanced alternatives in breakfast cereals are probably going to hasten the market growth, particularly in developing markets.
Furthermore, the introduction of breakfast cereals with innovative, exotic flavors and inventive taste is probably going to make lucrative prospects in the market in the years to come. Likewise, the quickly changing way of life in developing countries will maintain the interest for breakfast cereals. Various creative items dispatches in a few developing and developed nations as of late is likewise emphasizing the emergence of the global breakfast cereal market.