Global breakfast cereals market is expected to exceed USD 65 billion by 2028, finds Bekryl Market Analysts.
Over the last five years, the competition in breakfast cereals market has heightened with many regional players emerging in already saturated market. Companies are focusing on regional taste flavored products to ensure long term sustainability and gain market share over the time period. Globally, the industry will be driven by demand for healthy and organic breakfast cereals.
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Some key trends from the global Breakfast Cereals market:
Trend#1: North America to Dominate the Global Breakfast Cereal Market Revenue
North America is estimated to account for 36.9% of global revenue share in 2018. It is expected to hold its market dominance throughout the forecast period. The industry is highly saturated and is facing stiff competition from alternative breakfast segment. Millennial consumers have wide range of choices ranging from energy bars to biscuits. Cutthroat competition has led cereal companies to invest in product innovation. Various new flavor variants were launched in 2017 and 2018. The trend is likely to continue to maintain market presence. Also, companies are increasing their foodservice distribution networks to minimize the competition from outside the industry.
Trend#2: Breakfast Cereals Companies are Tapping Teens and Young Adult Population to Drive Revenue
Less than a decade ago, cereals use to enjoy the dominance on almost each age group. However, in last few years, the trend has shifted towards 12 to 21 age group population. There has been rise in overall consumption of breakfast cereals among teenagers as compared to middle aged and aging population. As such, companies are focusing mainly on enhancing products with wide range of flavors. Few companies are also investing on packaging to build brand reputation among young consumers.
Trend#3: Hypermarkets and Supermarkets to Account for 63% of Global Breakfast Cereals Sales in 2018
Offline shelves still dominate the global sales of breakfast cereals. Over 63% of breakfast cereals is estimated to be sold through hypermarkets and supermarkets in 2018. Large number of consumers prefer buying groceries from supermarkets. While supermarkets dominated the global point of breakfast cereals sales, independent grocery stores are preferred choice of consumers in South East Asia.
Trend#4: Organic Cereal Launch Likely to be at Center of Strategic Breakfast Cereal Business Expansion
Companies are focusing on launching organic cereals in order to provide healthy cereals and create brand presence among millennial. Recently in 2018, Cereal Partners Worldwide launched a range of organic breakfast cereals in Europe. Various such products are expected to be launched by 2028. Organic cereals is growing at a CAGR of 7.9% and will capture a chunk of market by 2028.
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Some key global Breakfast Cereals market players are:
- Marico Limited
- Calbee Inc.
- General Mills
- Kellogg Company
- B&G Foods
Bekryl has analyzed the breakfast cereal market value by:
By Cereal Type:
- Ready to Eat (RTE) Cereals
- Hot Cereals
By Distribution Channel:
- Company Outlets
- Grocery Stores
- Convenience Stores
- Online Sales
Some other Key Reports: Global Fortified Foods Markethttps://bekryl.com/industry-trends/fortified-foods-and-beverages-market-share-analysis