The need for convenience and busy schedules of people has been propelling the processed food industry, which includes breakfast cereals. Developed nations already have breakfast cereals as part of their regular course of meals. Increasing per capita income in developing countries is further giving the breakfast cereal industry a new dimension to look for. However, the breakfast cereals market in developed economies tends to saturate mainly due to the search for other traditional breakfast as well as some on-the-go breakfast alternatives such as cereal bars.
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The saturating market is compensated with growing breakfast cereals markets in Asia as well as some of the countries in Latin America. Some of the markets such as China and India offer high growth potential due to their large population. People in these countries are including breakfast cereals in their regular meals due to changing food habits. Breakfast cereals are broadly marketed under two segments: RTE cereals and Hot cereals. The market for RTE cereals is much bigger as compared to that of Hot breakfast cereals.
The major restraint for the breakfast cereals market is manufacturers facing the issue of raw material procurement due to environment-related concerns. This includes the procurement of palm oil, one of the basic ingredients used in the processing of breakfast cereals. While increasing numbers of convenience stores in developing economies is accelerating the breakfast cereals market, rising commodity and energy prices are emerging as key concerns. The shift in consumer trend towards various alternatives, such as fruits, toasts and eggs and time saver snacks such as cereal bars, is emerging as yet another restraint for the breakfast cereals market.
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Special emphasis on healthy living has prompted market players to introduce new products, which suit all age groups and lifestyles. International players in breakfast cereals market are also focusing on reformulating their products by replacing harmful hydrogenated fat and oils with healthier ingredients such as fiber and fruits. Demand for gluten-free cereals has increased in the market, especially in North America and Europe. There also has been an increase in demand for whole-grain cereals worldwide.
Kellogg’s is the global market leader in breakfast cereals market, while General Mills and PepsiCo are the other key players. The breakfast cereals market is dominated by top three players that control over 50% of the market. Their influence in the global breakfast cereals market is increasing due to established brands, knowledge for innovation and economies of scale. Among other players, Cereal Partners Worldwide (CPW), a joint venture company between General Mills and Nestle, has grown multifold and is expanding at a faster rate.
The report is a study of the global breakfast cereals market, its present and forecast positions. It discusses factors affecting market movements, changing consumer tastes and trends. It also elaborates companies’ planning and strategies for growth, including their investment plans and new product launches.
The report includes a competitive landscape section to map the competitive position of companies based on maturity and growth of the breakfast cereals market in several regions. Company profiles are included at the end of the report. These cover company overview, product and services, financial overview and the latest strategic developments of the company.
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