A new market research report has been recently published by Transparency Market Research, a global market intelligence firm. The research report, titled “Breakfast Cereals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, provides an in-depth analysis of the global breakfast cereals market based on the market overview, product segmentation, market drivers and restraints, opportunities and challenges, market trends, geographical segmentation, and competitive landscape.According to the research study, in 2012, the global breakfast cereals market was worth US$32.5 bn and is estimated to reach a value of US$43.2 bn by the end of 2019, exhibiting a progressive 4.10% CAGR from 2013 to 2019.
The major factor responsible for the rapid growth of the global market for breakfast cereals is the growing requirement for convenience foods due to the busy and hectic lifestyles of a growing part of the global population. Moreover, the growing number of convenience stores and the growing preference for Western food habits in most of the developing countries in Asia Pacific is estimated to propel the global breakfast cereals market. In addition, the increasing per capita income of the population is further expected to fuel the market in the forecast period. However, the rising trend of preferring varied alternatives such as fruits, eggs, and other quick snacks is the key factor that is expected to hamper the growth of this market in the near future.
On the basis of type, the global breakfast cereals market has been divided into hot cereals and ready-to-eat cereals. Ready-to-eat cereals do not require any time for preparations, whereas hot cereals require some time to get cooked before they can be consumed. The ready-to-eat segment has gained traction owing to the hectic and busy lifestyles of consumers in European and North American countries. As a result, the ready-to-eat cereals segment accounted for a massive share in the global breakfast cereals market. On the other hand, the hot cereals segment is estimated to witness significant growth in Asia Pacific countries, as people there mostly prefer hot breakfasts at the start of the day. This segment is projected to hold a share of 18% in the global market.
On the basis of geography, the global market for breakfast cereals has been segmented into Asia Pacific, North America, Europe, and Rest of the World. Among all these regions, the Asia Pacific breakfast cereals market is anticipated to witness the highest growth rate compared with Europe and North America. Asia Pacific is estimated to hold a 13% share in the global breakfast cereals market by the end of 2019, whereas the market share for Europe as well as North America is projected to drop throughout the forecast period. Among these countries, the China market for breakfast cereals is comparatively small; however, it is anticipated to register a higher growth rate than other countries.
Furthermore, the research report analyzes the competitive landscape of the global breakfast cereals market based on company overview, inception details, product portfolio, business strategies, financial overview, and recent developments. Some of the prominent players operating in the global breakfast cereals market are PepsiCo, Kellogg Co., Cereal Partners Worldwide, Post Holdings, and General Mills.
Key segments of the Breakfast cereals market:
Breakfast cereals market, by type
- Ready to Eat Cereals
- Hot Cereals
Breakfast cereals market, by geography
- North America
- Asia Pacific
- Rest of the World (RoW)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.