BREAKFAST CEREALS MARKET ANALYSIS

Market Challenges And Opportunities

Global Breakfast Cereals Market- Drivers

Increasing number of convenience stores

Increasing number of convenience stores has raised the brand visibility of cereals, which in turn has increased the sales of such food products, and this is expected to augment the market growth of breakfast cereals. According to the Forbes, convenience store industry sales totaled US$ 616300 Mn in 2017 in the U.S.

Rapid urbanization around the globe, coupled with changing Consumer breakfast habits is also expected to augment the market growth of breakfast cereals.

Changing lifestyle and consumption pattern of consumers across the Asia Pacific, coupled with the increasing population is expected to drive the growth of market. Growth in the middle-class population and development of the economy in the region is also contributing to the market growth of the breakfast cereals. According to the World Economic Forum, India's 80% of households in 2030 will be middle-income, up from about 50% from now. The middle class will drive 75% of consumer spending  by 2030.

Global Breakfast Cereals Market- Restraints

Availability of a low-cost substitute for breakfast cereals

Availability of a low-cost substitute for breakfast cereals is expected to limit the market growth of breakfast cereals over the forecast period. Alternative food range includes smoothies, shakes, eggs, yogurt, fruits, and toast. Thus, the market of breakfast cereals is facing a stiff competition from the traditional breakfast option.

Moreover, lack of awareness about the health benefits of breakfast cereals across rural areas of developing countries is also expected to hamper market growth of the breakfast cereals over the forecast period.