Published By : 28 Oct 2016 | Published By : QYRESEARCH
The growing emphasis on healthy living is having a prominent impact on the global demand for breakfast cereals across the world. Supported by the increasing number of convenience stores, growing brand visibility, and the changes in the eating habits of consumers, the worldwide breakfast cereals market is likely to progress at an exponential rate over the next few years. The escalating demand for gluten-free and whole-grain cereals is also projected to present a lucrative opportunity for growth to market participants.
Asia Pacific to Report Fastest Growth among Regional Markets
The global market for breakfast cereals stretches across North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. North America, among these, has acquired the dominant position in the overall market. In 2012, this regional market offered an opportunity worth US$13.9 bn, wherein the U.S. surfaced as the leading contributor to the market in terms of consumption.
Europe and Asia Pacific are also projected to experience a robust rise in the demand for breakfast cereals in the years to come. The rising awareness among consumers pertaining to the health benefits offered by breakfast cereals is anticipated to act as the key growth driver of both the regional markets. Particularly, in Asia Pacific, the augmenting population base, coupled with the increasing obesity and the growing prevalence of diabetes and other health conditions caused by unhealthy diet, are likely to boost the demand for breakfast cereals substantially in the near future.
Global Breakfast Cereals Market - Competitive Landscape
The worldwide market for breakfast cereals demonstrates a highly competitive and consolidated landscape with only a few established players controlling the global market. Kellogg Co., Post Holdings, The Weetabix Food Co., General Mills, PepsiCo, and Cereal Partners Worldwide are some of the leading companies operating in this market.