An increasing demand for ready meals and advanced technological innovations drive the market, which moderately impacts the market growth. Food demands, new raw material sources, health issues, and emerging markets serve as opportunities for the breakfast cereal ingredients market growth.
Currently, consumers are becoming diet-conscious and are eating healthy breakfast cereals, which have become a vogue. Consumer awareness with respect to the consumption of multi-grain and whole-grain breakfasts is on the rise. Moreover, consumers are looking for new and natural ingredients with health benefits in food products such as breakfast cereals.
Globalization and the accompanying changing lifestyles have led to convenience food consumption in other countries globally, especially in the booming markets of Asia-Pacific. Although the food and beverage manufacturers have established themselves in developed countries such as U.S., U.K., and Japan, they have shifted their focus to meet the convenience food demand in emerging markets.
The demand for processed food is high in developed markets such as U.S. Developing countries, such as China, Australia, India, and the Middle Eastern countries are estimated to experience a strong upsurge in the demand for processed foods, which leads to a rise in breakfast cereals. Emerging markets such as China and India have been offering incredible opportunities as they have an abundant amount of raw materials and a wide availability of cheap labor. Economic surges in China and India have led to the growth of an affluent urban population that creates a bigger market. Apart from China, due to the increasing set-up of market leaders in the cereal ingredients segment in other Asian countries, it is expected that the market in this region will grow in this sector.
Cereal Ingredients Market by Type (Wheat, Rice, Oat, Corn, Barley), Application (Hot Breakfast Cereal, Cold Breakfast Cereal) & Geography - Global Trends & Forecast to 2019
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