Albany, NY -- (SBWIRE) -- 12/05/2014 -- The global breakfast cereals market was valued at US$32.5 billion in 2012. After growing at a CAGR of 4.1% between 2013 and 2019, the market is estimated to reach an overall total of US$43.2 billion in 2019.
A research report has been released by Transparency Market Research titled "Breakfast Cereals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019", which describes all the important aspects of the market with historical and current matter.
The report states the U.S. faces a declining breakfast cereals market, which is forcing top companies to approach the markets of emerging countries. Most of the North American companies have been ramping up their sales and promotion efforts in the emerging nations of the Asia Pacific regions to increase their revenue. A majority of the promotion efforts focus on displaying the health benefits of breakfast cereals to increase product appeal. Another strategy they use is to incorporate region specific flavors along with the generic international staples.
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The report categorizes the breakfast cereal market into two generalized segments: the hot cereals and the ready to eat cereals. Ready to eat cereals dominate the market over hot cereals. The ready to eat segment was valued at US$27.8 billion in 2012. Hot cereals are however reported to be growing at a CAGR of more than twice that of ready to eat cereals. The report explains that the Asian markets prefer hot cereals more, boosting its growth.
The report says that the top reason for growth in the breakfast cereals market has consistently been the requirement for convenience foods due to the hectic lives of middle class society. Most developed countries have incorporated breakfast cereals as a part of their daily diet.
The report says that the increasing per capita income of families in emerging countries is what will drive the breakfast cereals market in the future.
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Geographically speaking, the report identifies North America as the breakfast cereals market leader in sales, especially the U.S., which accounted for the largest share in the global market at US$13.9 billion in 2012.
China on the other hand has a much smaller market, but is reported to grow at the fastest rate of all the countries. Major investors are lined up to provide growth for the breakfast cereals market in the Asia Pacific region.
The Asia Pacific region is predicted to hold a market share of almost 13% in 2019, while the market shares of North America and Europe are expected to decline.
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