Published on : Mar 10, 2016
Cereals have always been a healthy breakfast option across the globe. Now, with many new varieties of cereals being introduced by leading players, the global breakfast cereals market is expected to develop rapidly in the years to come. Currently, the market players are concentrating on introducing new breakfast cereals to match the tastes of people. Gone are the days when breakfast cereals were popularly consumed only in the United Sates. Today, they are consumed by people from across the globe.
Factors Contributing Towards Growth of Global Breakfast Cereals Market
- The rising preference for Western dietary patterns, especially in developing countries has resulted in significant growth of the global market for breakfast cereals.
- The growing number of convenience stores and distribution centers are predicted to contribute largely towards the growth of the global breakfast cereals market in the next few years.
- Changing food habits of people has led to increasing consumption of cereals over other unhealthy breakfast options.
- The consumption of ready-to-eat cereals and hot cereals is predicted to increase in the years to come, thus expected to boost the global breakfast cereals market.
- People across Asia Pacific and North America are switching their eating patterns from customary foods to packaged cereals.
- Busy lifestyle has led people to consume ready-to-eat cereals in rush hours.
- Increasing government funding and support has helped leading players introduce new breakfast cereals in the global market.
Going forward, the global share of hot cereals is expected to increase, thus predicted to contribute largely towards the growth of the global breakfast cereals. Entry of new companies in the global market is expected to witness new products for the middle-class society. The rising per capita income of people in developing countries is expected to fuel the global breakfast cereals market in the years to come.
However, the increasing trend of people opting for various alternative breakfast foods such as fruits, eggs, and other ready-to-eat snacks is predicted to hamper the growth of the global breakfast cereals market in the next few years. It is expected that in the next few years, ready-to-eat cereals will be the preferred choice amongst the majority of consumers.