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The Packaged Shredded Wheat Cereal Market size is projected to increase by USD 46,852.18 and the market size is estimated to grow at a CAGR of 3.42% between 2023 and 2028.
The report offers extensive research analysis on the Packaged Shredded Wheat Cereal Market with a categorization based on Distribution Channel, including offline and online. It further segments the market by Type, encompassing full-sized and bite-sized. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD) for all the mentioned segments.
Increasing internet and e-commerce users is notably driving the market growth. The global packaged shredded wheat cereal market is growing, and many enterprises, such as Amazon.com Inc., have entered the market. The online distribution of packaged shredded wheat cereal is expected to increase during the forecast period, owing to the rising Internet penetration and the growing number of smartphone users. Online distribution channels help packaged shredded wheat cereal manufacturers reach consumers in remote locations. Subscriptions offered by e-commerce companies help consumers repurchase packaged shredded wheat cereal products. The convenience offered by the online medium, such as the ease of payment using debit or credit cards from the comfort of the consumer's home and the home delivery of products, will drive the packaged shredded wheat cereal market growth during the forecast period.
The Packaged Shredded Wheat Cereal Market shows an Accelerate CAGR during the forecast period.
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The expansion of retail stores offering packaged shredded wheat cereal is an emerging trend shaping the market growth. There are a growing number of retail stores such as supermarkets, hypermarkets, and convenience stores in developing economies such as China and India. Owing to this, there has been an increase in the brand visibility of packaged shredded wheat cereals. According to the China Chain Store and Franchise Association (CCFA), the number of convenience stores in China reached more than 132,000 in 2020 compared to 2018. In India, supermarket and hypermarket chain stores such as More Retail Pvt. Ltd., Reliance Retail, Avenue Supermarts Ltd., and DMart have recently developed expansion plans and aim to open more outlets in the country during the forecast period.
Moreover, multinational retail corporations such as Walmart Inc. and Target Corp., which offer grocery and food and beverages products, including packaged shredded wheat cereals, have recently engaged in market expansion plans. Thus, the expansion of retail outlets will lead to an increase in the availability of products such as packaged shredded wheat cereals, which, in turn, will positively impact the global packaged shredded wheat cereal market during the forecast period.
Stringent government regulations are a significant challenge hindering market growth. Players such as Nestle SA and others in the global packaged shredded wheat cereal market face issues in complying with the stringent rules and regulations imposed by various authorities in the country. These regulations refrain new players from entering the market and even restrict the launch of new products. These standards are made to ensure uniform products are distributed throughout. In the US, foods with high fibre content must contain 5 grams (0.17 ounces) of fibre per serving and 8 grams (0.28 ounces) of whole grain. Also, the FDA requires the manufacturers of packaged food items to mention the nutritional details on the food packs.
Additionally, according to the FDA, manufacturers can only label their products when all the ingredients are derived entirely from whole grains. Products that contain a minimum of 51% of whole grain ingredients are allowed to use the FDA health claim certificate. Such stringent regulation from government bodies hinders the growth opportunities for new vendors, which is expected to impede the growth of the packaged shredded wheat cereal market during the forecast period.
The full-sized segment holds the major share in 2023. Wheat is one of the most important cereal grains produced and consumed as a staple food by humans worldwide. Wheat is an important source of carbohydrates in the form of starch. In addition to being the primary source of carbohydrates, wheat contains significant levels of a variety of nutrients that are essential or beneficial to health, most notably protein, vitamins, soluble fibre, and phytochemicals. Full-sized packaged shredded wheat cereals are consumed in many countries around the world owing to factors such as changing lifestyles, increasing disposable income, and eating habits of consumers. Thus, increased demand for full-sized packaged shredded wheat cereal products from consumers, in addition to their health advantages, is expected to boost the growth of the wheat segment, which, in turn, will propel the growth of the market in focus during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The offline distribution channel in the global packaged shredded wheat cereal market includes supermarkets, hypermarkets, convenience stores, and other retail stores. Supermarkets and hypermarkets are popular distribution channels for the global packaged shredded wheat cereal market. The wide prevalence of organized retail is increasing the sales of packaged shredded wheat cereals.
The offline segment was valued at USD 205,995.59 in 2018
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Convenience stores are widely prevalent in countries such as the US, Canada, and the UK, which increases the sales of packaged shredded wheat cereals in these countries through these distribution channels. The increasing penetration of supermarkets and hypermarkets in developing economies such as China and India is driving the growth of the segment. Increasing disposable incomes and rapid urbanization shift consumers' buying preferences from nearby convenience stores to supermarkets and hypermarkets. Therefore, such factors will drive the growth of the segment and market in focus during the forecast period.
Europe is estimated to contribute 31% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. The region holds the largest share in 2023. This can be attributed to burgeoning consumption in North American countries such as the US, Canada, and Mexico. There is high competition in the packaged shredded wheat cereal market in the region owing to the presence of established vendors such as Kellogg, Nestle, and others. Various lifestyle disorders in the region, such as high cholesterol, diabetes, obesity, and growing cardiac issues, have led people to consume low-cholesterol and fiber-rich nutrient food such as wheat. Additionally, there has been a recent trend of consuming full-sized and gluten-free packaged shredded wheat cereals in the region. Thus, such factors will drive the regional market
In addition, the increasing awareness of the importance of healthy breakfast among individuals increases the demand for packaged shredded wheat cereal. It comprises carbohydrates fiber and other nutrients. They are considered to be beneficial for the health of the consumers. Companies promote their products for health advantages that originate from eating high-fiber cereals including wheat. Thus, such factors will drive the regional market during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted the packaged shredded wheat cereal market in the region. The pandemic also urged a change from eating out to cooking at home as consumers preferred healthier, safer, and more convenient food alternatives. Companies in the region are launching new products to cater to this increased demand for their products. There are multiple opportunities for potential vendors to enter the market in the region to cater to the inflated demand for these products. Therefore, such factors will increase the demand for packaged shredded wheat cereals, which, in turn, will drive the growth of the packaged shredded wheat cereal market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The packaged shredded wheat cereal market report also includes detailed analyses of the competitive landscape of the market and information about 7 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The packaged shredded wheat cereal market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Packaged Shredded Wheat Cereal Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.42% |
Market Growth 2024-2028 |
USD 46,852.18 |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
3.07 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 31% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Foodtown International Inc., Kellogg Co., Nestle SA, PepsiCo Inc., Post Holdings Inc., Silver Palate Kitchens, and The Hain Celestial Group Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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