Global Breakfast Cereals Market: Increasing Awareness among Customers about Healthy and Nutritious Breakfast to Drive Growth of Market
Some of the key companies in the global breakfast cereal market include names such as Kellogg’s, Cereal Partners Worldwide (CPW) – a joint venture between Nestle and General Mills, and PepsiCo among others. Kellogg’s have been the undisputed leader in the global breakfast cereal market for years and is expected to continue to do so. The other key companies in the market are launching fruit flavored, innovative, and fiber rich products that also have low content of fats and oils. The top three companies in the global market have mapped over 50% of the total market. CPW has also acquired a considerable amount of share in the global market in small period of time and is projected to experience a higher rate of growth over the course of the given forecast period of 2013 to 2019.
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The global market for breakfast cereals is expected to reach an overall valuation of US$43.2 bn over the course of the given forecast period of 2013 to 2019. This growth of the global market is expected to be achieved with the help of a steady CAGR of 4.1% during the same period of forecast.
What Factors are Driving the Growth of Global Breakfast Cereals Market?
The packed breakfast cereals market have been experiencing huge popularity in the emerging economies, as the customers are growingly favoring packaged, healthier food products over the conventional, customary staple for breakfast. Because of the low calorific value and high nutritional content, these breakfast cereals are thought to be the perfect option for breakfast all across the world. These factors can be considered to significantly drive the growth of the global breakfast cereal market in the coming years. In addition to this, the increasing awareness about the significance of healthy breakfast is also expected to drive the overall growth of the global breakfast cereals market. A high nutritional breakfast is widely recommended for keeping activeness of the body, balanced levels of cholesterol and insulin, to lower the risks of chronic disorders, enhanced memory, and numerous other health advantages. Breakfast cereal have become a vital component of the packaged food sector and is expected to continue to develop as the parent market is flourishing.
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However, there are some challenges faced by the global breakfast cereals market that may slow down its overall growth. One of the key challenges for the global market is the procurement of raw materials. In spited of an increasing number of retail stores in the emerging economies, rising prices of commodity and energy are expected to remain long term restraining factors for the growth of the global breakfast cereals market.
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What are Growth Prospects of Asia Pacific Market in Near Future?
The global market for breakfast cereal have been traditionally dominated by North America thanks to the early adoption of the cereals. However, the present market of breakfast cereals in North America is saturated in spite of showing considerable revenues in the recent past. Asia Pacific market is expected to show a high growth prospect owing to exploding population and increasing popularity of breakfast cereals in the region. India and China are expected to act as the chief contenders of driving the growth of the breakfast cereals market in the Asia Pacific region.
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