In this market research report, Technavio covers the market outlook and growth prospects of the global breakfast cereals market for 2017-2021. The market is further categorized into two major product segments, comprising of hot cereals and ready-to-eat cereals, of which the ready-to-eat segment accounted for more than 86% of the market share in 2016.
“The major driving factors include the evolving taste preferences of consumers, increasing number of marketing initiatives around breakfast cereals, premiumization, and changes in lifestyle. Owing to the busy lifestyle, consumers are skipping the traditional sit-down breakfast and looking for quick and healthy forms of breakfast favoring the adoption of breakfast cereals,” says Akash Pandey, a lead food research expert from Technavio.
Technavio’s research analysts segment the global breakfast cereals market into the following regions:
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Breakfast cereals market in the Americas
The consumption of breakfast cereals is high in the Americas, due to greater nutritional benefits when compared to ready-to-eat cereals. More than 58% of the consumers consume hot cereals. Owing to their busy lifestyles, many consumers prefer on-the-go food consumption or away-from-home food consumption. Consumers prefer alternative choices such as cereal bars, yogurts, and others to breakfast cereals. This tendency is a challenge for the breakfast cereal market in the Americas. Considering this, manufacturers are investing in new marketing activities to introduce newer breakfast cereals that include more nutritional value.
Manufacturers who offer product lines for on-the-go consumption have more chances of gaining a good market share, as consumers are increasingly demanding for portable foods. For example, McCann's (a brand from World Finer Foods) Artisan line of oatmeal packets are portable and can be cooked with only hot water. For instance, McCann's Irish Oatmeal, made from creamy rolled oats, takes less time to get cooked. Hence, the brand is successful in meeting the consumer demand for convenience foods.
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Breakfast cereals market in EMEA
The breakfast cereals market in EMEA is growing due to factors such as new product launches, focus on investments, increase in product innovation and customization. The UK and Germany are the top contributing countries with respect to market growth. The market is expected to continue growing, as there are many interesting product innovations scheduled in the EMEA. Manufacturers tweak their product formulations and come up with a variety of breakfast cereals that match with local preferences. The innovations in packaging also contribute toward the growth of the market.
Some of the companies even offer customizable cereals to consumers. For example, The Cereal Club UK, a Germany-based company, offers options for consumers to mix their own cereals online. There are more than 120 muesli ingredients, of which more than 90 are organic. Consumers can choose their favorite ingredients and make breakfast cereals by themselves.
Breakfast cereals market in APAC
APAC is the fastest-growing market for breakfast cereals. The increasing demand for healthy ready-to-eat breakfast is fueling the breakfast cereals market in APAC. Many doctors and nutritionists recommend the intake of breakfast cereals as opposed to traditional breakfast items. The increasing awareness about cardiovascular diseases, diabetes, and obesity is influencing the purchase decision of consumers.
Consumers in developing countries such as India, Malaysia, Indonesia, and others are increasingly choosing Western diets due to the increased rate of urbanization. Companies such as Kellogg, Bagrry's India, and Quaker Oats are the top manufacturers of breakfast cereals in India. Hot cereals are highly preferred than cold cereals due to the traditional breakfast preferences of Indians.
“Owing to the broad nature of the market, manufacturers offer different products for various age groups. There are a variety of different products that cater to the needs of different groups such as children, teenagers, women and the elderly. The increasing demand for convenience food from the urban provides ample opportunity for growth of the breakfast cereals market,” says Akash.
The top vendors in the global breakfast cereals market as highlighted in this market research analysis are:
- General Mills
- Post Holdings
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