In June 2023, Nestle India, a leading food and beverage company, announced the expansion of its breakfast cereals portfolio in India. The company launched two new exciting flavors such as KOKO KRUNCH millet-Jowar and MUNCH Breakfast cereals.
The new launches are designed to cater to the evolving tastes and preferences of Indian consumers, who are increasingly seeking healthy and nutritious breakfast options. KOKO KRUNCH millet-Jowar is made from a unique blend of crunchy millet, sweet and creamy cocoa, and packed with essential vitamins and minerals.
On the other hand, MUNCH Breakfast cereals are a tasty delight filled with crunchy wheat flakes, sweet and salty nuts, and dried fruits. Both new variants are made with whole grain cereals and are fortified with essential vitamins and delicious breakfast options.
The launch of the KOKO KRUNCH millet-Jowar and MUNCH Breakfast cereals reinforces Nestle India’s commitment to providing Indian consumers with a range of nutritious and delicious breakfast options. Nestle India aims to further strengthen its position in the Indian breakfast cereal industry and provide consumers with a convenient and healthy breakfast option.
As per Coherent Market Insights report, the global breakfast cereal industry was estimated at US$ 49.002.8 million in 2022 and is projected to expand at a CAGR of 4.84% between 2023 and 2030. Sifting consumer preference towards high protein and whole grain cereal provides added benefits such as probiotics and vitamins. This shift in consumer behavior will lead to the introduction of new products that are customized to their specific dietary preference. These products include gluten-free, organic and vegan options.
Additionally, rising demand for convenient and on-the-go food options will further boost demand for breakfast cereal. These options include muesli, oats, flax seeds, breakfast bars, and granola. Another trend that drives demand is the rising popularity of plant-based and vegan breakfast cereals. People are more conscious about their health and opt for vegan and flexitarian diet options. This will lead to drive demand for plant-based breakfast cereals that are made from ingredients such as almond milk, oats, and quinoa.
Moreover, the increasing rate of single-person households will provide an opportunity for growth in the global industry. These households will purchase those breakfast cereals that are easy to prepare and convenient. Consumers are option for that food options that are easy to prepare and consumer. Rising incidences of celiac diseases and on-the-go food options will lead to further growth.
The industry has benefited from growing demand for natural and clean-label products. The consumer wants to know about the ingredients in their food and seek for those options that are free from artificial additives and preservatives.
North America is poised to hold a leading position in the global breakfast cereal industry during the forecast period. This is owing to rising health consciousness and demand for convenience-oriented products. Consumer are looking for nutritious and convenient breakfast options that align with their busy lifestyle.
