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Intense competition is likely to emerge as a major challenge in the market. New entrants are facing tough
competition from the established market players, such as Kellogg’s, Bagrry’s and PepsiCo. Other FMCG chains
offering ready-to-eat products, including Britannia can also add to competition. Availability of alternative
products and issues related to raw material procurement are anticipated to hamper market growth in coming
years. In addition, consumption of smoothies, yogurt, puddings, eggs, and other conventional meals in
breakfast can pose a threat to demand for cereals.
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However, advent of innovative products by manufacturing companies to gain traction among consumers can
present lucrative opportunities for the market. Shifting consumer preferences for organic food products
owing to growing health awareness can also have a positive impact on market growth. Launch of new
products with added ingredients to enhance flavors, such as chocolate, spices, cinnamon, and fruit flavors,
can help companies gain traction among consumers. Other innovative ingredients include nuts, dry fruits, and
marshmallows.
The market can be segmented on the basis of product type, ingredient type, and distribution channel. Ready -
to-eat and hot cereals are the key product types in the market. Based on ingredient type, the market can be
categorized into wheat, corn, barley, and rice. In terms of distribution channel, the market can be divided
into specialist retailers, hypermarkets and supermarkets, independent retailers, and convenience stores.
Asia Pacific is a leading region in the market owing to shifting consumer preferences for healthy breakfast in
developing countries, such as India, China, and Japan. Increasing number of health-conscious consumers and
rising demand for convenient food products are likely to boost consumption of cereals in breakfast. Flattened
rice flakes is an essential part of breakfast platter in Western and Central India, whereas in Northern India,
whole wheat grits are mostly preferred. In addition, growing adoption of western lifestyle and changing
consumption patterns are expected to alter preferences for breakfast, thereby positively influencing the
growth of the market. Growing awareness regarding health benefits of consuming grains can fuel demand for
oats among consumers.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/food-and-
beverages-industry
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