Surging western influence on middle-class population with respect to food habits contributes substantially towards the breakfast cereals market all over the world. Rising food retail infrastructure combined with mounting awareness with regard to health benefits of grain-based breakfasts, also benefits the market.
Developing economies are observing a paradigm shift when it comes to the purchasing behavior as well as eating habits of customers. Quickly rising urbanization along with expanding middle-class population in such economies has led to a change in lifestyle and has raised the demand for on-the-go options of meals. Cereals offer several health benefits and are easy to prepare, due to which they are noting high demand among consumers worldwide.
On a different note, demand for Breakfast Cereal Market Size could go down on account of the huge availability of alternatives like smoothies, eggs, yogurt, frozen waffles, puddings, and sausage. Having said that, rising popularity of on-the-go breakfasts combined with increasing demand for organic cereals could do wonders for the market during the evaluation period.
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The market is extremely competitive where the esteemed players are indulging in forward and backward integration within the value chain. Some of these companies are PepsiCo (US), the Jordans & Ryvita Company (UK), Nestlé (Switzerland), Post Holdings, Inc. (US), Kellogg Co. (US), TreeHouse Foods, Inc. (US), Nature’s Path Foods (Canada), General Mills, Inc. (US), Weetabix Limited (UK), to name a few.
The worldwide Breakfast Cereals Market has been segmented depending on the source, packaging type, and distribution channel.
Source-wise, the global breakfast cereals market can be broken down into wheat, rice, oat, corn, barley, and others.
With respect to the packaging type, the global breakfast cereals market has been split into boxes, pouches, and others.
The global breakfast cereals market, on the basis of the distribution channel, include store-based and non-store-based. The store-based segment can be divided into convenience stores, supermarkets and hypermarkets, and others.
The key markets for breakfast cereals are Europe, Asia Pacific, North America, and the rest of the world.
North America stands as the most profitable market for breakfast cereals on account of high consumption of functional foods as well as meal replacers. More and more people in the region are aware of the several health benefits of breakfast cereals, which include improvement of immune system. This augments the product demand to a great extent in North America.