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Technavio’s market research analyst predicts the breakfast cereal market in the US to reach a revenue of USD 11 billion during the forecast period. The high household penetration of the breakfast cereals is the key growth driver for this market. Breakfast cereals are regarded as a convenient and handy snack that can be consumed any time of the day. For instance, based on a survey conducted by Packaged Facts, every three out of four people consume RTE/cold cereals, and more than 50% consume hot cereals.
However, the existence of other breakfast alternatives such as yogurt, sandwiches, fruits, bagels, and snack bars is expected to pose a challenge to the growth of breakfast cereals in the US. Snack bars are trending in the market due to their convenience and perceived nutritional value; yogurts are also a major preference due to its protein content and low fat alternatives. The growth of these two segments has been negatively impacting the demand for breakfast cereals.
The RTE cereal segment accounted for the largest market share during 2014. However, this research report predicts the segment to witness a decline in its market share by the end of the forecast period. The market saturation in the US is the primary reason for the decline in shares of the RTE segment.
The supermarket and hypermarket segment accounted for nearly 88% of the market share during 2014. Consumers prefer purchasing from supermarkets or hypermarkets as they stock a variety of brands in various SKUs.
The introduction of new product lines such as organic and natural cereals, sugar-free cereals is expected to intensify the competition in the US market during the forecast period. The vendors compete on the basis of product extensions, pricing strategy, inclusion of nutritive ingredients, product innovations and distribution strategy.
The top vendors in the market are –
Other providers in the market include Abbott Nutrition, Arrowhead Mills, Back to Nature, Bob's Red Mill, Food For Life, McKee Foods, U.S. Mills, Udi's Handcrafted Foods, Weetabix, and Weight Watchers.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by distribution channel
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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