In a recent published report, Kenneth Research has updated the market report for Breakfast Cereal Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Breakfast Cereal Market products.
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The breakfast cereal market was valued at USD 36.28 billion by 2017, growing with 13.7% CAGR during the forecast period, 2018-2025
Breakfast cereal food were originally sold as milled grains of oats and wheat which required further cooking prior to consumption. This product is categorized as traditional and ready to eat cereals. Traditional products includes oats, farina, wheat, rice, and corn products. Whereas, ready to eat products comprise of flaked, gun-puffed whole grain and extruded gun-puffed cereals.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global breakfast cereals market valued USD 33.6 billion in 2017, expanding at a CAGR of 2.8% during the study period. In 2019, the global breakfast cereals market had a volume of 5.6 million kilo and growing with 12% CAGR. These products have become more attractive as the importance of healthy foods has increased. This has also resulted in the emergence of many new, local producers who will exacerbate the level of competition.
In terms of product types, the market is divided as;
Ready-to-eat category accounted for the highest revenue share. Ready to eat cereals are undeniably quick and easy to cook and becoming very popular among the users owing to the busy lifestyle. These products are fast replacing traditional breakfast menus. as the companies are introducing range of ready to eat cereals with flavors to entice customer’s taste-buds. The largest markets for the Ready-to-eat Cereal products are Ireland, U.K. and Australia.
Distribution Channel Takeaway
Supermarkets / hypermarkets
Of these, ready-to-eat cereal is considered to be the biggest market, with over 80% market share. In terms of value, over three-quarters of breakfast cereal products are sold in hypermarkets and supermarkets.
General Mills, Inc.
Bagrrys India Limited
B&G Foods Inc.
Post Foods LLC
Bob’s Red Mill Natural Foods
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The global breakfast cereals market sees a strong presence of players such as General Mills, Kellogg and Cereal Partners Worldwide. Kellogg’s dominated the market in terms of value, with a share of over 35%. Whereas, the top three market players account for over 55% of the total market value. The industry is fairly concentrated, both in terms of the major producers and sales channels.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY DISTRIBUTION CHANNEL
Supermarkets / hypermarkets
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
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