In modern-day society, consumers are facing increasingly busy lifestyles across the globe. As a result, the demand for convenient solutions which simplify their lives has increased significantly in recent years. This increase in demand for convenience has had a significant impact on several industries. It has specifically influenced the Breakfast Cereals industry, which has witnessed significant growth in recent years in both the global and South African markets as a result of the increasing popularity of convenient on-the-go meals, ready-to-eat cereals, snack bars and breakfast biscuits.
Insight Survey’s latest SA Breakfast Cereals Industry Landscape Report 2019 discusses the global and local Breakfast Cereals markets (Including Gluten-free cereals and cereal bars) based on the latest information and research. It examines global and local market trends as well as the market drivers and challenges, to present an objective insight into the current environment, market dynamics, and future of the South African Breakfast Cereals Industry.
Globally, the Breakfast Cereals market was valued at US29.9 billion in retail sales in 2018 and is anticipated to grow at a compound annual growth rate of 4.5% for the 2019 to 2023 period. In terms of production, the Asia-Pacific region was the regional leader producing an estimated 1.2 billion tonnes of Breakfast Cereals in 2019. This was followed by Europe as the second-largest Breakfast Cereal producer, producing an estimated 534.4 million tonnes in 2019.
Source: FAO Crop Prospects and Food Situation July 2019 Report Graphics by Insight Survey
In South Africa, the Breakfast Cereals market increased by a compound annual growth rate of 4.1%, at constant prices, between 2013 and 2018 and is forecast to grow at a slower 1.9% between 2019 and 2023. Growth in this market has mainly been driven by consumers’ growing need for convenience and the subsequent rising demand for convenience foods. A trend which is set to continue to drive growth in the market over the next couple of years.
In support of this notion, the results from a recent report released by Nielsen clearly demonstrated South African consumers’ rising need for convenience products to simplify their lives. According to the findings, 40% of consumers indicated that they would want products that make life easier and 36% indicated they would want products that are convenient when asked which products they wished were on the market but currently are not.
In particular, the increasing demand for convenience has driven the popularity of more on-the-go breakfast options, such as snack bars and breakfast biscuits, which has resulted in more product innovation and the widening the product portfolios to include more on-the-go breakfast options.
The recent launch of Pioneer Foods’ Nature’s Source Muesli and Granola in smaller, more convenient 50g packets, for example, caters specifically to this growing trend.
The South African Breakfast Cereals Industry Landscape Report 2019 (130 pages) provides a dynamic synthesis of industry research, examining the Breakfast Cereals Industry (Including Gluten-free cereals and cereal bars) from a uniquely holistic perspective, with detailed insights into the entire value chain – from production through to consumption.
Some key questions the report will help you to answer:
- What are the latest global and South African Breakfast Cereals Industry trends, drivers and challenges?
- What are the current market dynamics of the South African Breakfast Cereals Industry? (market size, market value, market volumes: 2013-2018 Actual, 2019-2023 Forecasts, distribution channels)
- Who are the key manufacturing and retail players in the South African Breakfast Cereals Industry? (including Gluten-Free and cereal bars)
- What are the prices of popular Breakfast Cereals brands (including Gluten-Free and cereal bars) across South African retail outlets?
Please note that the 130-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at email@example.com or directly on (010) 140-5756 or (021) 045-0202.
For a full brochure please go to: South African Breakfast Cereals Industry Landscape Report 2019