LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global packaged muesli products market to grow at a CAGR of close to 5% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the shift toward organic cereals as one of the key emerging trends in the global packaged muesli products market. The increasing preference of consumers for natural and organic breakfast cereals is expected to sustain the growth of the global breakfast cereal market during the forecast period. Consumers are increasingly purchasing breakfast products that are healthy and environment friendly. They are trying to curb their intake of foods that contain chemical pesticides and fertilizers. The raw materials used to produce organic breakfast cereals are organically produced, which means that only organic fertilizers and pesticides are used to produce breakfast cereals. The growing awareness about the health-promoting benefits of organic breakfast cereals is a significant factor that is expected to drive the demand for organic breakfast cereals in the next few years.
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In this report, Technavio analysts highlight the premiumization of breakfast cereals as a key factor contributing to the growth of the global packaged muesli products market:
Premiumization of breakfast cereals
The premiumization of breakfast cereal products is a significant growth driver for the global packaged muesli products market. The improving economic conditions in countries worldwide combined with the increasing purchasing power of consumers is creating an increase in demand for premium products. The market in Southeast Asia is also witnessing an increase in demand for premium breakfast cereals. The rapid expansion of the middle-class consumer segment has created a market for more innovative and customizable variety of breakfast cereals.
According to a senior analyst at Technavio for food, “As middle-class consumers are ready to pay more for healthy breakfast cereals, manufactures in the global packaged muesli products market are projected to introduce new varieties of premium breakfast cereals. Therefore, manufacturers are adopting a competitive pricing formula as well. The addition of high-quality ingredients in the cereals is leading to its premiumization.”
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Global packaged muesli products market segmentation
This market research report segments the global packaged muesli products market into the following products (cereals and bars) and key regions (the Americas, APAC, and EMEA).
Of the two major products, the cereals segment held the largest market share in 2017, accounting for nearly 66% of the market. The market share for this product is expected to decrease nearly 2% by 2022. The fastest growing product is bars, which will account for nearly 34% of the total market share by 2022.
The Americas was the leading region for the global packaged muesli products market in 2017, accounting for a market share of nearly 54%. By 2022, APAC is expected to register the highest growth.
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