Global Packaged Muesli Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Packaged muesli is a commercialized product of traditional muesli, consisting of a loose mixture of mainly rolled oats or cornflakes along with various dried fruit pieces, nuts, and seeds. It generally consists of other rolled cereal grains such as wheat or rye flakes. There are other varieties, which are marketed according to the ingredients such as honey, spices, or chocolate. Dry packaged muesli can be stored for many months and served immediately after mixing with milk, filmjolk, yogurt, coffee, hot chocolate, fruit juice, or water. Many consumers also mix pieces of fresh fruit to it. On the other hand, the mix may be soaked overnight in milk and then served with fresh fruit. The global packaged muesli market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX%
Market Dynamics: Increasing demand from middle class consumers of emerging countries is driving the market.
At present, the global muesli market is driven by rapid increase in demand from new middle-class urban consumers of emerging countries worldwide. Consumers in emerging economies are rapidly changing their purchasing behavior and eating habits. Rapid urbanization and the rise in the middle-class population in these economies are leading to changing lifestyles and growth in demand for on-the-go options of meals. Because of this, many international brands have introduced a wide variety of breakfast cereals, as these products are considered to be healthy and easy to prepare. For instance, In India, over 90 percent of current healthy food demand comes from the top 7 metros, but with the growing awareness and rising disposable income, the category is estimated to penetrate tier 2 and 3 cities in the forecast period. According to industry experts, about half of the populations residing in metros of India have adopted healthy consumption. Out of them, about 70% spend over USD 150 annually on packaged health food. In the case of China, middle-class consumers often use western-style breakfast cereal as a gift, especially in first-tier cities. With the trend of accepting western lifestyle, many Chinese population received up to a quarter of cereal in their homes as a present, which also creates more opportunities for the market.
Additionally, rising health awareness among young consumers, and the rising prevalence of non-communicable diseases (NCDs) such as heart attacks, diabetes, and blood pressure, are forcing consumers to shift their eating habits from indulgent food to wholesome food. Breakfast muesli manufacturers are receiving the highest benefit from this trend, as health benefits are one of the main focus points of consumers to purchase cereals.
However, the presence of many substitute products such as granola and flakes made from corn, wheat and rice, all at an affordable price compared to muesli is expected to limit the market to middle class and high-class consumers
Market Segmentation: Increasing use of muesli cereals as breakfast food worldwide is making it dominant product type in global packaged muesli market.
By product type, cereals is the dominating segment with market share of XX% in total sales revenue due to the presence of both local and international vendors providing new and innovative flavors and varieties of cereals. For instance, Kellogg provides four types of muesli products named as muesli crunchy fruit & nut, muesli nuts delight, muesli fruit magic and muesli no added sugar.
In terms of distribution channel, the supermarket segment is dominating with a market share of XX% in total sales revenue, due to convenience of shopping by customers, the opportunity of comparing with other products and brand advertisement. E-commerce is expected to have the highest growth rate due to growing adoption among consumers and the availability of options to shop without visiting grocery stores.
Geographical Penetration: North America is the dominating region for packaged muesli market
North America is the largest market for packaged muesli, with nearly XX% of the global sales revenue in 2020, due to growing health awareness; rising health concerns such as diabetes, obesity and heart attacks; and the presence of leading breakfast cereal market players. Ready-to-eat cereals, for example, cornflakes and muesli are preferred and cultural breakfast choices in North America and European regions, due to less preparation time and high demand for gluten-free products. Breakfast cereal business is mainly present in the U.S., Canada, U.K. and Australia, which together account for approximately 54% of global consumption regardless of having just 6% of the population. Asia-Pacific is expected to grow with the highest growth rate in the forecast period. Even if the approximate share of Asia-Pacific for the global cereal market is around 13 percent by the end of 2019, the increasing popularity of lighter meals and Western breakfast habits are the major drivers of this emerging trend.
Competitive Landscape: Introduction of new flavored products made the market competitive
The global packaged muesli market is moderately concentrated with large number of players active in the North America and Europe regions, where these companies are now shifting their focus on emerging economies by introducing their products in local markets. Additionally, the competition is intense with mergers and acquisitions as well as new flavored product launches. The leading market players of global packaged muesli market are The Kellogg Company, Bob's Red Mill Natural Foods., PepsiCo, Moms best cereals, Nourish Organic Foods Pvt. Ltd., NuTrail, Evoke Healthy Foods and Bio-Familia AG, HighKey
COVID-19 Impact: Pandemic had a positive impact on global packaged muesli market
While the global economy came to a periodic halt during the lockdowns imposed to control the spread of novel coronavirus, the packaged muesli market has been impacted positively due to huge demand, growing health & immunity concerns and increasing adaptability of these products in emerging countries at the time of Covid-19 period. For instance, according to The Kellogg Company, work from home policies and closure of schools has resulted in a surge in demand for cereals, oatmeal and snacks in North America, with Kellogg's net sales in the North American region increased 11% during the quarter ended June 2020. Also, according to the NPD Group/National Eating Trends data of USA, millennials are consuming more cereal during the pandemic, with consumption increased 13 percent from March to August 2020, surpassing the rest of the population. The trend of purchasing essential healthy foods is expected to continue in the post-pandemic world, as consumers will be more health-conscious than any time ever before.