The increasing emphasis on healthy living has fueled the global breakfast cereals market significantly in the recent times. In 2012, the overall value of the global market for breakfast cereals was reported to be US$32.5 bn. Aided by rising number of convenience stores, increasing brand visibility as well as changing breakfast habits among consumers, the global market is projected to rise at a CAGR of 4.10% over the period from 2013 to 2019 and reach a value of US$43.2 bn by the end of 2019.
Introduction of advanced products is the latest trend prevailing in the global breakfast cereals market. The increasing demand for gluten-free as well as whole-grain cereals has presented an opportunity-rich market for the participants in the global breakfast cereals market.
Ready-to-eat (RTE) Cereals Segment Dominates Global Breakfast Cereals Market
Ready-to-eat (RTE) cereals and hot cereals are the two major segments of the global breakfast cereals market. The only difference between the two is that hot cereals need preparation before consumption, while RTE does not. The market for RTE cereals holds a larger share of the global breakfast cereals market compared to the market for hot cereals. The future of this market segment looks thriving as the busy lifestyles of consumers in developed economies is boosting the popularity of RTE cereals.
The RTE cereals market holds more than 85% of the overall breakfast cereals, in terms of consumption. However, the market for hot cereals is anticipated to gain a healthy pace in the near future on account of the increasing demand for hot cereals from Asian nations, where hot breakfast is a regular practice among consumers. Analysts expect the hot cereals market to occupy around 18% of the global breakfast cereals market by 2019.
Asia Pacific to Report Fastest Growth among Regional Markets
The global breakfast cereals market is spread across North America, Asia Pacific, Europe, and the Rest of the World. North America, holds the leading position in the global breakfast cereals market. The North America breakfast cereals market stood at US$13.9 bn in 2012, wherein the U.S. emerged as the biggest contributor to the market.
The market for breakfast cereals in Europe has currently acquired the second place in the global market, but analysts expect this regional market to witness a decline in market value in the coming years. The North America breakfast cereals market is also projected to lose ground to Asia Pacific, which is likely to record the fastest growth and hold around 13% of the overall breakfast cereals market in the next few years. The anticipated high growth of the China market for breakfast cereals is projected to drive the market in Asia Pacific.
Global Breakfast Cereals Market: Major Companies
The global market for breakfast cereals is extremely consolidated with a few established market players running the global industry. The Weetabix Food Co., Kellogg Co., PepsiCo, General Mills, Cereal Partners Worldwide, and Post Holdings are the major companies operating in the global breakfast cereals market. International participants are focusing on reformulation of their products by substituting harmful oils and fats with healthier ingredients such as fruits and fibers.
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