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Industry Brief
India Breakfast Cereal Market Set to Grow at over 17% CAGR until 2023
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According to a report released by TechSci Research, “India Breakfast Cereal Market By Product Type, By
Pricing, By Pack Size, By Distribution Channel, By City, Competition, Forecast & Opportunities, 2013-2023”,
India breakfast cereal market is projected to grow at a CAGR of 17% during 2018 - 2023. Growth of the market
is led by rising urbanization and changing lifestyle pattern along with increasing disposable income.
Moreover, people are now becoming more health conscious, thus they are increasingly opting for healthy
food including breakfast cereal. This trend is essentially witnessed in tier-I and tier-II cities, where there is
higher need for convenient options and life is fast-paced and is characterized by higher spending power,
hectic lifestyles leading to very less or almost no time for indulging in traditional, elaborate home cooked
breakfast. Moreover, cereal manufacturers are expanding their distribution network in India which is further
anticipated to positively influence India breakfast cereal market in the coming years.
Breakfast cereal is made from processed grain and is considered as a healthy early morning breakfast. It is
divided into two types, namely, hot cereal and ready-to-eat cereal, of which the latter is the dominant
category. Among regions, North and west regions of the country are the leaders in India breakfast cereal
market due to presence of cities like New Delhi, Mumbai, Pune and Ahmedabad, which have large urban
population base and rising working women population. Online sales channel is anticipated to emerge as the
fastest growing sales channel in India breakfast cereal market on account of increasing consumer preference
for non-store-based retailing, which is encouraging several manufacturers to start online web stores on their
websites.
Rising presence of various multinational companies such as Europcar, Uber, Avis, Sixt, Mytaxi, etc., has been
intensifying the market competition in Europe mobility on demand market over the last few years. “Demand
for Europe mobility on demand services is anticipated to grow at a significant pace, on the back of growing
need for alternative transportation, coupled with rise in internet and smartphone users. Moreover, rising
inclination of people towards mobility on demand services and car-pooling due to various advantages
associated with them would further steer growth in Europe mobility on demand market in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
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