Cereal Coatings Market Outlook
Cereal coatings is a layer of a substance that is coated onto the surface of the cereal or cereal flake. The application of the coating on the cereal enhances the flavour and the appearance of the end product, which is mostly the ready-to-eat breakfast cereal products. The cereal coatings are available in the liquid as well as powder form, in the market consisting of the sweet, savory, fruit-flavored, and chocolate types. The coating of the cereal not only results in the flavour enhancement, but also results in the extension of the shelf-life of the end product. In the global market of the cereal coatings, the new trend of reduced sugar content is settling, due to the rising health and wellness trend. The market of cereal coatings is expected to proliferate, considering the increased consumption of the breakfast cereal.
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Penetration of Big Brands in the Emerging Market is Likely to Have Catalyzing Effect on the Global Market of Cereal Coatings
Cereal coatings market demand is mostly driven by the increasing consumption of the ready-to-eat cereals as a breakfast menu in the developed and developing nations. Busy and sedentary lifestyle in the developed nations and similar adoption of lifestyle in the developing nations are together resulting in the higher consumption of ready-to-eat food products. Breakfast cereals are usually fortified with the nutritious ingredients and are claimed to fulfill the RDA. The attractive promotion and marketing done by the manufacturers of the cereal products is resulting in the increase in the consumer groups. Furthermore, various new product launches in the breakfast cereal are targeted towards the kids, with the required nutritional elements that also results in the increase in the demand for the breakfast cereals. Henceforth, the cereal coatings market is significantly driven by the increase in the breakfast cereal consumption in the global market.
Due to the improvements in the GDP and economic situation in most of the developing nations, increasing urbanization and industrialization are resulting in the developments in the manufacturing sector. The manufacturing sector developments in the developing nations is resulting in the easy availability of the consumer products such as breakfast cereals. Additionally, the social media platform usage is increasing the awareness about the availability of such excellent and various products in the market. The improvements in GDP and economy are also resulting in the enhancements in the purchasing power of the consumer. Due to which, many big and global brands are entering and expanding their business in the emerging markets such as, India, China, Japan, South Korea, Turkey, Brazil, Indonesia, etc. The increase in the market penetration by the big brands is eventually leading to the increase in the market demand for the cereal coatings in the global market.
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Cereal Coatings Market Segmentation
The cereal coatings market can be segmented on the basis of form, type, and sales channel.
On the basis of form, the cereal coatings market can be segmented as:
On the basis of type, the Cereal Coatings market can be segmented as:
- Sweet Coating
- Savory Coating
- Chocolate Coating
- Fruit-flavored Coating
On the basis of sales channel, the Cereal Coatings market can be segmented as:
- Indirect/ B2B Sales Channel
- Direct/ B2C Sales Channel
- Online Retail
- Specialty Stores
- Other Retail Formats
Cereal Coatings Market: Regional Analysis
Cereal coatings market is dominated by the North America and European countries on the basis of consumption. The high consumption of the breakfast ‘ready-to-eat’ cereal in the countries from these regions and strong market presence of the leading companies in these regions are likely to account for the higher market share in the global cereal coatings. Whereas, the increasing product awareness, increasing penetration of the leading market players in the Asian, Latin America and MEA region are anticipated to result in the highest CAGR in the global cereal coatings market over the forecast period. The increase in the consumer spending and enhancements in the retailing structure of these regions are creating promising market opportunity for the cereal coating. The significant increase in the middle-class population and increase in the middle-class income are producing substantial market growth opportunities in the developing region.
Cereal Coatings Market: Key Participants
Some of the market participants in the cereal coatings market are:
- General Mills
- Archer Daniels Midland Company
- BENEO GmbH
- Slivery Tweed Cereal Innovators
- Kerry Group
- Tate & Lyle Plc.
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