Published on : May 23, 2016
The global market for breakfast cereals has been gaining significant impetus over the past few years. The increasing emphasis of people across the world on healthy lifestyle has fueled the demand for breakfast cereals considerably in the recent times. In addition to this, the increase in the introduction of new and advanced products and the escalating demand for gluten-free and whole-grain cereals are likely to boost this market significantly.
North America Leads Global Breakfast Cereals Market
The worldwide market for breakfast cereals is spread across North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America acquired the dominating position in the overall market in 2012, attaining a value of US$13.9 bn, in which the U.S. was the biggest contributor to this market.
The Europe market for breakfast cereals emerged second in the overall market in 2012; however, it is expected to experience a decline in its market value over the next few years. In the near future, the North America market is also anticipated to lose ground to the market in Asia Pacific, which is estimated to register the fastest growth and account for a share of almost 13% in the overall market by 2019. China is expected to lead the growth of the Asia Pacific breakfast cereals market.
Companies Focusing on Reformulation of Products to Strengthen their Presence
The global market for breakfast cereals exhibits extremely concentrated nature with a few major market players driving the overall industry. Cereal Partners Worldwide, Post Holdings, General Mills, The Weetabix Food Co., PepsiCo, and Kellogg Co. are the major participants in the market for breakfast cereals across the world. International players are increasingly focusing on reformulation of their existing products by replacing harmful fats and oils with ingredients with nutritional value such as fruits and fibrous food items.