Published on : Mar 04, 2016
In almost all parts of the world, breakfast cereals are fast becoming a staple item on breakfast menus. They were originally sold as products of milled oats, wheat, corn, and rice that need to be either heated or cooked before eating. However, today, the evolution of breakfast cereal technology has resulted in the sophisticated manufacturing of ready to eat options that need no or minimal cooking.
The growing global demand for American style breakfast menus has resulted in the increasing demand for ready to eat breakfast cereals. Given that processed cereal products are not high on the list of preferred breakfast items in countries such as India, China, and Brazil, ready to eat breakfast cereal marketers have been targeting these emerging economies.
Growing Purchasing Power of the Middle Class
The rise in the middle class population in developing countries is most significantly influenced by Western food habits and this is anticipated to have a positive impact on the development of the global breakfast cereals market. According to the World Bank, the middle class population was pegged at 430 million in India and China in 2010, which is projected to increase to a whopping 1.2 billion by 2030.
The jobs in most countries have become increasingly demanding, leaving little to no time to cook meals at home. This changing lifestyle of the growing population has resulted in the consumption of foods that can be eaten on the go and do not require lengthy preparation times. The rise in disposable income of individuals living in some of the rapidly developing countries has also strengthened the purchasing power and demand for packaged foods that were, not too long ago, affordable only to the higher classes.
Ready to eat and hot cereals are the two main kinds of breakfast cereals available in the market today. While ready to eat cereals are ready for consumption, hot cereals are required to be either heated or cooked. Of the two, ready to eat breakfast cereals are more in demand, especially in Europe and North America.