The hot cereals market is expected to grow significantly by 2019.
The Breakfast Cereals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019, a new report published by Transparency Market Research (TMR), has revealed that the global breakfast cereals market is in a state of growth.
The global breakfast cereals market was estimated at $32.5 billion in 2012 and is expected to reach $43.2 billion by 2019, expanding at a CAGR of 4.1% between 2013 and 2019.
The major reason for the growth of the breakfast cereals market is the need for convenience foods owing to the hectic lifestyle of the middle-class society. Additionally, the rise in the number of convenience stores and the inclination towards Western food habits in developing Asian countries is expected to boost the market for breakfast cereals. Furthermore, the rising per capita income of people in developing countries will fuel the market in the forthcoming future. On the other hand, the key factor hampering the growth of the market is the rising trend of consumers opting for numerous alternatives such as eggs, fruits and other quick snacks.
This market research report segments the breakfast cereals market on the basis of product type and region. On the basis of types, breakfast cereals can be segmented into ready-to-eat cereals and hot cereals. Amongst these, in 2012, the ready-to-eat cereals segment was estimated at $27.8 billion. The preparation time in the ready-to-eat cereals is almost nil, while on the other hand, hot cereals require time to get cooked before they can be consumed. Ready-to-eat cereals are thus more popular in European and North American countries owing to the busy and hectic lifestyles of people in these regions. Thus, ready-to-eat meals accounted for a share of over 85% in the total market for breakfast cereals.
Nonetheless, the demand for hot cereals is predicted to expand by 2019 owing to the rapidly growing utilization of these cereals in Asian countries. Hence, by 2019, on the basis of volume, the market share of hot cereals is anticipated to grow to approximately 18%. On the basis of geography, the breakfast cereals market is segmented into North America, Europe, Asia Pacific and Rest of the World. Amongst these regional markets, Asia Pacific is predicted to expand swiftly in comparison to Europe and North America. This region is predicted to gain a share of approximately 13% in the market for breakfast cereals.
On the other hand, the share of both Europe and North America is predicted to drop during the forecast horizon. The key countries covered in the report are the U.S., Mexico, Canada, France, Germany, Turkey, Italy, Spain, the U.K., India, China, Japan, Australia, South Korea and Brazil. Among these countries, the breakfast cereals market in China is small but is expected to expand at a swifter rate in comparison to all other countries. The key companies prevalent in the global market for breakfast cereals include Post Holdings, Kellogg Co., Cereal Partners Worldwide, General Mills and PepsiCo etc.
The Global Breakfast Cereals Market is segmented as follows:
Breakfast cereals market, by type
- Ready to Eat Cereals
- Hot Cereals
Breakfast cereals market, by geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
