Breakfast Cereals Market Size till 2019

Albany, NY -- (SBWire) -- 01/09/2019 --Breakfast cereals are a wide variety of cereal products consumed all over the world, majorly as a breakfast item or a snack. Breakfast cereals originated and were popularized mainly in the U.S., but in the past few decade they have spread to all developed economies as well as most developing economies. The increasing preference for Western dietary patterns in developing countries has led to significant growth of the global breakfast cereals market in recent years.

The global breakfast cereals market depicts the presence of an intensely competitive vendor landscape, notes Transparency Market Research on the basis of a newly published report. Such a competitive scenario mainly exists thanks to numerous players existing in this sector, coupled with low entry barriers.

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However, of all the businesses operating in this domain, Kellogg's, PepsiCo, and General Mills depict a consolidated position by comprising about 50% of the total market shares in recent times. Most players are attempting to improve cereal quality, enhancing taste factor, and facilitating an increase in the nutritional content of their products. Manufacturers are also focusing on bringing forth innovative flavors to their products, in order to appear more lucrative to their customers.

From a statistical perspective, experts peg the global breakfast cereals market to gain revenue worth US$43.2 bn by 2019. This is a decent growth considering an initial revenue valuation of US$32.5 bn registered by the market in 2012. Thus growth is prophesized to occur at a healthy CAGR of 4.1% during the forecast period ranging from 2013 to 2019.

Rising Awareness Regarding Healthy Food Consumption Boosts Growth

A surge in awareness regarding consumption of highly nutritious breakfast foods is primarily driving growth in the global breakfast cereals market. Moreover, with booming e-commerce and retail industries, many manufacturers are able to sell popular products such as breakfast cereals, thereby driving the global breakfast cereals market. In addition, an increasing number of fitness freaks who demand consumption of healthy foods on a regular basis too is making the market expand at a spectacular pace in recent times. Furthermore, several companies are pouring extensive investments to facilitate innovative cereal manufacturing techniques as well as provide lucrative flavors to customers for increasing their retention. Lastly, cereals play a vital role in most breakfast types consumed all over the globe. Thus, an inherently high demand for these foods itself acts as a prolonged growth driving factor for the market.

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Overview of the Global Breakfast Cereals Market

According to detailed research conducted by TMR analysts, the global breakfast cereals market was worth US$32.5 bn in 2012. The high value of the breakfast cereals market can be attributed to its cosmopolitan spread and steadily increasing demand. The market is expected to exhibit a steady 4.1% CAGR from 2013 to 2019, reaching a projected value of US$43.2 bn by 2019.

Breakfast cereals are of two types: hot and ready to eat (RTE). Due to the minimal preparation required for RTE breakfast cereals, they enjoy immense popularity in North America and Europe. A whopping 85% of the demand for breakfast cereals from these two developed regions consisted of RTE cereals. In contrast, the traditional preference for a hot breakfast in Asia Pacific has led to better prospects for the hot cereals segment in Asia Pacific. Hot cereals are further expected to rise in demand over the forecast period. By the end of the forecast period, hot cereals are expected to account for 18% of the global breakfast cereals market.