Growing number of single individuals along with rising number of working women has led consumer shifting preference towards ready to eat breakfast food products. Porridges are the breakfast food products which are made up by starch plant specially the grains such as wheat, barley, oats and others. Presently the marketer is positioning and marketing porridges as instant ready to eat breakfast option to the consumers. Increasing consumer inclination towards convenience food products coupled with rising consumption of health fortified breakfast options is expected to drive the market growth over the forecast period.
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Porridges Market Segmentation
Porridges market has been segmented on the basis of source which includes rice, barley and oats. Among all these segments oats is expected to occupy the largest value share during the forecast period. Availability of wide variety of product variants in oats based porridges is expected to support the segment growth during the forecast period. Rice based porridges is expected to register a favorable growth in the near future. Increasing demand for rice based porridges in country such as China and Japan is expected to support the segment growth over the forecast period.
Global porridges market is also segmented on the basis of distribution channel which includes hypermarket/supermarket, retail stores, convenience stores, online, others. Among all these segment hypermarket/supermarket is expected to account for relatively higher value share over the forecast period. Increasing penetration of retail industry especially in developing countries is expected to support the segment growth in the porridges market over the forecast period. Convenience stores is further expected to account for favorable growth during the forecast period.
Porridges Regional Analysis
Global porridges market is further segmented on the basis of region which includes North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. Geographically, Western Europe is expected to be the major market in terms of value for porridges market, owing to increasing consumer shifting preference towards convenient breakfast options. Among the countries, U.K. is expected to remain major markets in terms of consumptions for porridges followed by Germany.
North America is expected to represent the favorable market for porridges in terms of consumption. In the region the U.S. is expected to represent major value share during the forecast period. Increasing consumption of instant and on-the-go breakfast alternatives is expected to support the market growth in the country. Asia Pacific is expected to represent a rapid growth in porridges market. China is expected to be the largest consumer of porridges in the region. Continuous new product launches is expected to support the market growth in the country. Moreover, among ASEAN countries Singapore is expected to represent potential market both in terms of value and volume consumption.
Porridges Market Drivers
Growing number of single individuals along with rising number of working women across the globe is expected to drive the porridges market across the globe. For instance, according to the European Commission, the proportion of women employed in EU-28 increased from 51.4% in 2004 to 55.5% in 2014. Also, employment rate for women was pegged at 59.6% in 2014. In addition, continuous introduction of new porridges products such porridges combined with fruits and nuts is expected to fuel the market growth over the forecast period. In addition increasing awareness among the consumers through aggressive advertisement by the manufacturers is expected to drive the market growth during the forecast period. Moreover, increasing per capita expenditure on prepared food coupled with rising demand for convenience breakfast products is further expected to fuel the market growth in the near future.
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Porridges Market Key Players
Some of the key players operating in porridges market includes Quaker Oats Company, Kellogg Co., General Mills Inc., Dole Food Company Inc, Weetabix Limited and H. J. Heinz Company among others.