Covid-19 Impact on Breakfast Cereals Market | Industry Growth and Forecast to 2023


Posted November 2, 2020 by taursuraj56

Covid-19 Impact on Breakfast Cereals Market Information Type (ready to eat (RTE) and hot cereals), Source (Wheat, Rice, Oat, Corn, Barley and others), Form
 
Market Analysis

Global Breakfast Cereals Market is expected to grow at the CAGR of 5%. Inclusion of various flavors and nutrition rich ingredients is encouraging higher sales of breakfast cereals. Rising demand for natural and healthy food in developed countries is also influencing the market growth. Governments in developed countries are promoting the breakfast cereals as a healthy food and helping the manufacturers with regulations which are supporting the market growth.

With changing lifestyle and evolving dietary pattern, convenience food plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of convenience food began in western world and spread to other regions rapidly. Looking at the development of Asian countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant. The increasing consumption of convenience food is driven by this desire to create more leisure time which means that consumers like to maximize their free time along with their disposable income and spend more time doing the things they value more.

Most of the Covid-19 Impact on Breakfast Cereals Market is produced through extrusion. Breakfast Cereals Industry have a very long history and are readily acceptable by many consumers globally. The revolution in the ingredient inclusion from the overnight soaking of heavy bran and graham nuggets from New York to the recent RTE breakfast cereal which was introduced in the United Kingdom has encouraged various breakfast cereals producers to innovate their products. In general, consumer surveys are done by the breakfast cereals producers or indirectly through consumer research/market research companies to target the right consumer for their products. Various innovations have also been carried in terms of processing technology of breakfast cereals in its entire value chain which in turn has resulted in increase of product launches.

Consumers look for convenience food which is easy to use and possess nutritional value. So, breakfast cereals are becoming one of the popular foods among the consumers. Apart from that, growing working women population in developing economies is considered to be significant factor for the rising growth of breakfast cereal. Rising consumer awareness towards the health benefits of breakfast cereals is expected to fuel the sales of breakfast cereal during the forecast period of 2017-2023. Breakfast cereals are gaining huge popularity in the baby food due to the nutritional value and ease of preparation. Premiumization is one of the important trends which is gaining its momentum in the developed countries in the breakfast cereal market because consumers are inclined to adopt high quality product instead of the normal product due to its nutritional value.

Major Key Players

The key players profiled in the Covid-19 Impact on Breakfast Cereals Market are Kellogg Co. (U.S.), General Mills (U.S.), Post Holdings Inc. (U.S.), Pepsi Co. (U.S.), Cereal Partners Worldwide (CPW) (Switzerland), Weetabix Ltd. (U.K.), The JORDANS & RYVITA Company (UK), Tree House Foods (U.S.), and Nature’s Path (Canada).

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Industry Segments

Breakfast Cereals are segmented on the basis of form which comprises of hot breakfast cereals and cold breakfast cereals. Breakfast cereals industry has been segmented on the basis of type which comprises of ready to eat (RTE) and hot cereals. Breakfast cereals has been segmented on the basis of source which comprises of wheat, rice, oat, corn, barley and others

Regional Analysis

Breakfast Cereals Market is segmented into Europe, North America, Asia Pacific, and rest of the world (ROW). Among this North American region has the major market share with U.S and Canada having a strong presence of breakfast cereals manufacturers. Growing positive attitudes towards healthy foods and changing consumer patterns with evolving dietary patterns are driving the breakfast cereals market growth globally. Breakfast cereals in U.S. and Canada have been significantly growing since last few years. In the western’s parts of the world mainly America, cereals are mostly fortified with vitamins.

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NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Tags COVID-19 Impact on Breakfast Cereals Market
Last Updated November 2, 2020