Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The "Breakfast Cereal Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global breakfast cereal market is expected to grow from $56.86 billion in 2020 to $60.07 billion in 2021 at a CAGR of 5.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $75.44 billion in 2025 at a CAGR of 6%.
Asia Pacific was the largest region in the global breakfast cereal market, accounting for 51% of the market in 2020. North America was the second largest region accounting for 18% of the global breakfast cereal market. Africa was the smallest region in the global breakfast cereal market.
Breakfast cereal manufacturing companies are adopting robotics and automation technology to maximize production efficiency. Robotic systems automate batching, conveying, processing, storage and packaging of cereal products thus decreasing production cycle time and increasing output. Automation enables cereal manufacturers to improve plant conditions, reduce contamination, minimize human interaction thus making processing safer for workers as well as consumers. Collaborative robots or semi-autonomous robots are used in various automation processes, including packaging. Plants with fixed automation systems increase yields by at least 2-3% over manual labor. Colborne Foodbotics, ABB Group, Emerson Electric Co, Schneider Electric S.E. are some of the companies that provide automation equipment to cereal manufacturers.
The outbreak of COVID-19 has acted as a massive restraint on the breakfast cereal manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses into 2021. However, it is expected that the breakfast cereal manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Many countries across the globe are experiencing falling prices of crops due to overcapacity; this is expected result in low raw material costs for food and beverage companies. For example, in 2019, the Indian government spent $873 million to subsidize the export of sugar as a result of overproduction of sugarcane, thereby reducing prices. Thus, overproduction of certain crops is likely to result in higher profit margins for food and beverage companies including breakfast and cereal manufacturing companies. Higher profit margins will enable food and beverage companies to increase their production and drive the market going forward.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global breakfast cereal market as it emerges from the COVID-19 shut down.
Scope
Markets Covered:
1) By Type: Oats Breakfast Cereal; Grains Breakfast Cereal; Other Breakfast Cereal
2) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Others
3) By Product: Ready-to-Eat (RTE); Hot Cereals
4) By Packaging: Boxes; Pouches; Others
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, breakfast cereal indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Companies Mentioned
- Abbott Nutrition
- Attune Foods
- Back to Natures Food Company
- Bobs Red Mill Natural Foods
For more information about this report visit https://www.researchandmarkets.com/r/g1xwpi
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