New York, NY, May 23, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Breakfast Cereals Market by Ingredient Type (Wheat, Rice, Oat, Corn, and Barley), by Process (Hot Cereals, and Ready-to-Eat Cereals), and by Application (Convenience Stores, Supermarket and Hypermarket, Online Distribution and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024” . According to the report, global breakfast cereals market was valued at approximately USD 42.52 billion in 2017 and is expected to generate revenue of around USD 57.86 billion by the end of 2024, growing at a CAGR of around 4.5% between 2017 and 2024.
Breakfast cereal is a type of food product which is made from cereal grain that is often eaten in breakfast generally in the western countries. Breakfast is considered as the most important meal of the day. After sleeping through the night, the body has low energy reserve and therefore there is a need to stock up on fuel that provides us energy. Breakfast cereal is considered as a good source of carbohydrates and fiber, due to which it is preferred for breakfast.
Browse through 57 Tables & 28 Figures spread over 110 Pages and in-depth TOC on "Global Breakfast Cereals Market Size & Share 2017: Industry Trends, Segments Analysis, and Forecast, 2024”.
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The global breakfast cereal market is segregated on the basis of ingredient type, product type, and distribution channel. The ingredient type segment is bifurcated into wheat, rice, oat, corn and barley. The wheat segment is expected to dominate the market as it is healthy and has a greater demand in developing countries. On the basis of product type, the breakfast cereal market is divided hot cereals and ready-to-eat cereals. Ready-to-eat cereals are projected to lead the market as it is an on-to-go product and is convenient for consumption in working population. Also, hot cereals are expected to show a rapid increase in CAGR as it provides an organic and whole grain based cereal breakfast diet. Further, the market on the basis of the distribution channel is divided into convenience stores, hypermarkets and supermarkets, online channel and others. Hypermarkets and supermarkets are expected to dominate the distribution channel segment due to the increase in hypermarket and supermarket across the globe.
North America accounted for over 36.5% of the total revenue share globally. North America showed a rapid growth phase in the past as it was the first region where breakfast cereals were accepted but later it showed a steady growth due to shift of population towards the traditional breakfast ways Growing health concerns and increasing health issues such as diabetes, obesity, and digestive disorders are some of the factors driving the growth of the breakfast cereal market in the region. Rapid adaption of mobiles and internet has led to increase in the use of online distribution channel which in turn increased the demand for breakfast cereals in this region.
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Europe is expected to show significant growth in the years to come due to a huge paradigm shift in the purchasing behavior and eating habits of the population, led to the demand for on-the-go eating. Rapid urbanization and growth of middle-class population in this region contributed to the demand for breakfast cereal market. Also, the benefits associated with the consumption of organic and whole grain-based cereals added to the demand for breakfast cereals.
Asia Pacific is expected to dominate the market with the highest CAGR. The Asia Pacific approximately held 44% of the total global market revenue share. Due to the rapid increase in industrialization and urbanization, there is a change in the lifestyle, which led to the acceptance of hassle-free food in breakfast; therefore the region is expected to dominate the market in the forecast period. The fast-expanding economies with high population density in the Asia Pacific like India and China also drive the breakfast cereals market due to the upping brand visibility by manufacturers of breakfast cereals in this region.
Browse the full "Breakfast Cereals Market by Ingredient Type (Wheat, Rice, Oat, Corn, and Barley), by Process (Hot Cereals, and Ready-to-Eat Cereals), and by Application (Convenience Stores, Supermarket and Hypermarket, Online Distribution and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/bre...als-market
Middle East and Africa and Latin America are expected to witness a rapid growth in the forecast period. The rapid adaption of western culture and increase in the awareness about ready-to-eat food is expected to aid the growth of the breakfast cereal market in the future.
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Some of the key players in the global breakfast cereal market include Kellogg Co., PepsiCo, Cereal Partners Worldwide, Post Holdings, General Mills, Nestle SA, Ricebran Technologies, and The Weetabix Food Company. Major players are frequently engaged in innovating and conceptualizing new product range with enhanced shelf life.
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This report segments the global breakfast cereals market as follows:
Global Breakfast Cereals Market: Ingredient Type Segment Analysis
- Wheat
- Rice
- Oat
- Corn
- Barley
Global Breakfast Cereals Market: Product Type Segment Analysis
- Hot Cereals
- Ready-to-Eat Cereals
Global Breakfast Cereals Market: Distribution Channel Segment Analysis
- Convenience Stores
- Hypermarkets & Supermarkets
- Online Channel
- Others (Sundries, Pharmaceutical general stores, etc.)
Global Breakfast Cereals Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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