New York, NY -- (SBWIRE) -- 08/10/2017 -- The fast-paced lifestyle of people, coupled with the need for convenience has been driving the processed food industry, including products such as breakfast cereals. Breakfast cereals already form a part of people's regular meals across developed nations. In addition, increasing disposable income of people in developing economies, coupled with their busy regime has rendered them the ability to spend more on processed food items such as breakfast cereals. The global breakfast cereals market was evaluated at revenues worth US$ 32.5 Bn in 2013, and is further estimated to account for over US$ 40 Bn by 2019-end.

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Companies Producing Breakfast Cereals to Spend More on Advertising in Emerging Economies

The market for breakfast cereals in the U.S. has been witnessing a decline over the past few years, which in turn has compelled the producers of breakfast cereals to shift their production bases to emerging nations. This has led the companies to spend more on advertising in the emerging regions of Asia Pacific (APAC), spreading awareness among consumers about the health benefits associated with breakfast cereals. These companies have also been developing few brands, based on regional preferences, such as including raisin- and saffron-flavored cereals for attracting consumers in India.

Market players are focusing more on the introduction of new products that are well-suitable for every lifestyle and all age groups, on the back of increasing emphasis on healthy living. International companies are concentrating on reformulation of their products, substituting health-abusive hydrogenated oils & fats with healthier ingredients including fruits and fibers. Demand for cereals that are gluten-free has surged among consumers worldwide, particularly in Europe and North America. In addition, whole-grain cereals have also been gaining a higher traction in the global market since recent past.

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RTE Cereals to Remain Preferred Among Consumers

Breakfast cereals are bifurcated into Hot cereals, and (ready-to-eat) RTE cereals. In terms of revenues, the market for RTE cereals is comparatively larger than the market for Hot cereals. RTE cereals will continue to be preferred among consumers across the globe. A comparatively higher share of the market was accounted by RTE cereals in the global breakfast cereals market, with sales evaluated at approximately US$ 30 Bn revenues in 2012. However, sales of Hot cereals are projected to register 2x CAGR as compared to sales of RTE cereals through 2019. This growth in sales of Hot cereals is primarily attributed to increasing consumption across countries in APAC.

Region-wise, North America accounted for the largest market share, led by sales in the U.S., and was evaluated at revenues nearly US$ 14 Bn in 2012. In addition, China does not have large market, however the growth of the market in China will be significant, creating opportunities for leading market players increasing investments in this region.

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Kellogs to Remain Dominant in the Global Market for Breakfast Cereals

Leading market players are continuously introducing new, innovative, fruit-flavored and fiber-rich products, with reduced content of oils and fats. Kellogs has remained dominant in the global breakfast cereals market since years, and is expected to continue the trend throughout the forecast period. In addition, General Mills, and PepsiCo hold significant shares of the global breakfast cereals market. These three companies together govern the market, with more than half share in terms of revenues. Another notable player is the Cereals Partners Worldwide (CPW), a joint venture between Nestle and General Mills. In a short period of time, CPW has attained a significant share of the market, and is expected to witness a robust expansion over the forecast period.