Opportunities and Challenges in the US Breakfast Cereals Market

2014-03-14
Published : Mar-2014

The breakfast market has had a continuous growth throughout its history. The breakfast cereals industry has a gross profit margin of 40-45%, and has a 90% penetration in some markets.

Breakfast cereals faced an enormous competition from breakfast alternatives in 2013. Snack bars continued to see significant growth due to the convenience and high nutritional content of such products. Liquid breakfast products such as instant breakfast and Greek yogurt are some of the products that Americans opted as unconventional foods for breakfast. The growth of these products, in addition to the increased use of foodservice outlets for breakfast has led to the decline in the overall cereals consumption.

In 2013, Kellogg’s accounted for 27% market share and General Mills represented 27% of sales in the US market. Other major national brand and private label unit sales comprised a total of 31% of the US market.

The global breakfast cereals industry was worth $28 billion in 2010. The global breakfast cereals industry recorded around 4% yearly growth for the four preceding years before 2010. In 2010, ready-to-eat cereals represented the leading market segment, generating almost $24.5 billion. Ready-to-eat cereals accounted for more than 87% of the overall market in terms of value. By 2015, the global breakfast cereals industry is expected to be worth $34 billion.

In 2013, maker of Corn Flakes and Rice Krispies, Kellogg’s, announced that it will cut 2,000 jobs due to the drop in the demand for cereals. Regardless of the fact that 90% of the US household purchase cereals, both Kellogg and General Mills say that the sales are declining. Cereals have been witnessing a fall in sales for quite some time now. One of the main reasons is that the consumers are bored of having cereals, and prefer other alternative options that are available like yogurt and parfait.

According to analysts, the breakfast cereals market in the US is expected to grow at a CAGR of 2.14% between 2012 and 2016. Increasing demand for natural and organic breakfast cereals are some of the driving factors for market growth.

Explore latest market research report on breakfast cereals market in US @
http://www.sandlerresearch.org/breakfast-cereals-market-in-the-us-2012-2016.html

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