Pune, India -- (SBWIRE) -- 04/19/2018 -- Market Overview:
The global fortified cereal market is witnessing a massive growth over the last few years. The demand of the fortified cereal is attributed to the increasing consumer awareness of healthy food habits and increasing disposable income of the consumers. Consumers are also paying more attention to adopt convenient food in order to minimize the time. Increasing busy schedules and rising work pressure is creating a favorable environment to accelerate the demand of fortified cereal during the forecast period. Also, strong growth of organized retail sector is considered to be one of the significant reasons of the rising growth of fortified cereal. Key players are emphasizing to promote their new product offerings in the supermarkets & hypermarkets which is creating an awareness to the consumer of fortified cereal.
Global Fortified Cereal Market is expected to grow at the CAGR of 7.8%. Fortified food offers extra micronutrients which includes essential trace elements and different vitamins. Fortified food is a completely commercial choice to add extra nutrients in the food. Fortified food offers various end users. According to FAO, the most common fortified foods are cereals and cereal based products. Fortified cereal offers various benefits. Fortified cereal finds massive application in various breakfast products.
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Key players in the global Fortified Cereal market are emphasizing to enhance their investment in product development in order to extend the product line. Additionally, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate the untapped market.
Regional Analysis:
The global Fortified Cereal market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe region has the major market proportion in the global fortified cereal market. The market is projected to grow in a high pace in the review period of 2017-2023. Asia Pacific is projected to be one of the fastest growing region in the fortified cereal market. The increasing growth of Asia Pacific region is attributed to the increasing per capita disposable income of the consumer in the developing economies such as China, India & the Association of South East Asian Nations countries. Also, the consumers are following western culture which is anticipated to be the one of the significant reason of the rising growth of fortified cereal market in the Asia Pacific region during the forecast period of 2017-2023.
Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major fortified cereal market players. It further includes product portfolios, developments of leading major players which includes
- Grape Nuts, Inc.(U.S.)
- Abbott Nutrition Limited (U.S.)
- Freedom Foods Group Limited (Australia)
- Food For Life, Inc. (U.S.)
- Nestle S.A. (Switzerland)
- General Mills Inc. (U.S.)
- Kellogg Company (U.S.)
Key Findings:
- Europe dominates the Fortified Cereal market followed by North America
- Asia Pacific is projected to witness a massive growth during the forecast period of 2017-2023
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Market Segments:
- Fortified cereal has been segmented on the basis of type of cereals such as Wheat, Rice, Barley, Oat, Corn and others.
- Fortified cereal market has been segmented on the basis of nutrients such as mineral and vitamin. Mineral segment is further sub segmented into zinc, folic acid, copper, iron, DHA, and others. Also, the vitamin segment is further sub segmented into Vitamin A, Vitamin C, Vitamin D and others.
- Fortified cereal market has been segmented on the basis of distribution channel such as store based and non-store based.
- Store based distribution channel has been further segmented into supermarkets & hypermarkets, convenience stores, specialist retailers and others.