Global cereal ingredient market - Market outlook
Cereal ingredients are mainly used as staple food and probably the greatest source of energy for humans. Cereals are grown on nearly 60% of the cultivated area in the world, providing almost 30% of total calories in a regular diet. Some cereals ingredients have content of iron that help the transfer of oxygen to the blood. Soluble fibers present in cereals ingredients lowers the blood cholesterol. Cereal ingredients consist of 12-14 percent water, 65-75 percent carbohydrates, 2-6 percent lipids and 7-12 percent protein. Phytochemicals present in cereal ingredients reduce the risk of many types of cancer.
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Growing influence of healthy diets among the consumers is flourishing the demand of cereal ingredients
Cereal ingredients market is driven by the growing healthy eating habits among the consumers. Rapid urbanization and growing awareness has shifted the consumers eating habits towards the safe and healthy food products. Cereals are presumed to be one of the major health and energy source and also contains all the essential nutrients. Cereal ingredients contains carbohydrates, proteins, calories and lipids. This has a particular influence on the breakfast occasion due to the belief that breakfast is the most important meal of the day. Furthermore, due to increasing health issues from highly processed foods products, consumers are also adopting the consumption of cereals.
Wide availability of cereal ingredients and its applications in various industries is also beneficial factor for the cereal ingredients market. Cereals ingredients are stapled foods and an important source of nutrients for consumers around the world. Additionally, growing demand for organic food also expected to drive the organic cereal ingredients market. Nevertheless, high availability of substitutes of cereal ingredients is one of the restraining factor for the cereal ingredients.
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Global Cereal ingredients market -key players
Some of the major Key players of the cereal ingredient markets are Kellogg NA Co., General Mills, The Kraft Heinz Company, Mondel?z International. , Tyson Foods, Inc. Cargill., Roquette Frères, Kerry Inc., Pecan Deluxe Candy Company, Kanegrade Ltd. Balchem Inc. Codrico. Hodgson Mill and others.
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Opportunities for new market participants in the global cereal ingredients market
With wide range of application of cereal ingredients there is ample of opportunities for the market participants to grow in this market. Cereal ingredient manufacturers have an opportunity to change the industry and make cereals more functional by focusing on adding nutrients with functional properties without compromising the taste. Industry revenue and profitability are expected to benefit from increased demand for cereal ingredients.
Growth opportunity exists for high fiber products that can promote better health. North America has the highest percentage of natural claims in breakfast cereals globally and experiencing continuous growth as consumers increasingly seek out healthy, organic and all-natural cereal foods. Cereal ingredients manufacturers have already started to communicate nutritional credentials of cereal ingredients on product packs. Consumer’s acceptability of the products, should be the focus area that needs the utmost attention for the new participant of global cereal ingredient market. The invention of newer technologies for cereal processing to improve their use and health potential will help the new participants to grow.
COVID 19 Impact on Global Cereal Ingredients Market
The effect of COVID-19 disease is growing across the world, subsequently, it is also affecting the growth of food and beverage industry. Food processing sector is highly hampered by the global pandemic as the processing of the food products is shut down in most of the countries or operational at low production capacity. This has further limited the production of cereal ingredients. Furthermore, supply of grains such as wheat, rice, barley, and oats has also been decline due to interruptions in supply chain and logistics. Therefore, COVID-19 disease outbreak has moderate to high impact on the cereal ingredients market.