Cereal Ingredients Market, 2015-2021: Share,Industry Size, Trends and Forecast
Since the emergence of agriculture, cereals have provided unlimited health benefits to human health acting as a staple food in diet. They are rich in complex carbohydrates that provide with ample energy and help in preventing various diseases such as cancer, constipation, colon disorders, and high blood sugar levels.They also enhance physical activeness and reduce the risk of obesity. Cereals enrich the overall health with ample proteins, fats, lipids, minerals, vitamins, and enzymes along with abundant fiber contents. Other than their superior nutritive value, cereals are popularly used in kitchens globally for their prolific growth and plentiful production in most countries. These are few factors increasing the consumption of cereals around the world.
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Cereal ingredients market is one of the growing markets in the food ingredients sector. Increasing trend towards the consumption of processed food products in the developing countries positively impacts the increasing use of cereal ingredients. In addition, companies promoting their products for the health benefits from eating oat-based and high-fiber cereals boost the demand for cereal ingredients. On the basis of type, cereal ingredients market is segmented as wheat, rice, corn, oat, barley, and other grains. Based on the application, the market is segmented as hot breakfast cereals and cold breakfast cereals. Geographically, the global market is segmented as North America, Europe, Asia, and Rest of the World (RoW).
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North America region constitutes the largest market followed by Asia Pacific and Europe along with the U.S. dominating the North America cereal ingredients market. Asia Pacific is forecasted to have fastest growth in the market in the near future followed by Europe and North America. Rising demand from emerging economies such as China, India, and Indonesia has created the need for cereal ingredients. Increasing demand for healthier food, rising urban population, changing consumer preferences, and growing health issues are the major factors driving growth of cereals ingredients market. From the data provided by the WHO, in 2010, the number of obese people was around 42 million. Of which, majority were children under the age of 5. Obese people are more likely to acquire diseases such as diabetes and other cardiovascular diseases at young age. This results in people opting for low-calorie food such as breakfast cereals. As compared to rural population, the lifestyle of urban population is changing briskly. This brisk lifestyle along with the desire to stay fit captivates people to breakfast cereals. Companies promoting the health benefits of consuming nutritional cereal ingredients attract the urban population making them keener to have better and nutritious breakfast with healthy ingredients.
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Key players of the global cereal ingredientsmarket are Associated British Food Plc, Archer Daniels Midland Company, Bunge Ltd., Kellogg Company, and Nestle S.A. Other major players of the market include Cereal Ingredients Inc., SunOpta Inc., Cargill Inc., Kashi Company, and others.
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