Product Code: ETC380604 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India breakfast cereals market import shipment exhibited a negative CAGR from 2020 to 2024, indicating a slowdown in growth. However, there was a notable uptick in the growth rate between 2023 and 2024, signaling potential market stabilization and a positive shift in momentum towards the end of the period.
The breakfast cereals market in India was estimated to be worth INR 2,500 crore and is expected to grow at a compound annual growth rate of 11.8%. The market includes ready-to-eat cereal bars, muesli, flakes, and porridge among others. As per industry estimates, the organized sector accounts for 60% of the overall sales while 40% comes from the unorganized sector. Nestle dominates the India breakfast cereals market with its NesPlus brand having a 20% share.
The India breakfast cereals market is witnessing remarkable growth due to several key drivers. Firstly, the changing lifestyle and busy routines of urban consumers are driving the demand for convenient and ready-to-eat breakfast options, such as breakfast cereals. The ease of preparation and the availability of a wide range of flavors and variants are attracting consumers, supporting market growth.Moreover, the increasing health consciousness among consumers is boosting the demand for nutritious and fortified breakfast cereals. Manufacturers are focusing on introducing cereals with added vitamins, minerals, and fibers, appealing to health-conscious consumers.Furthermore, the growth of modern retail channels and e-commerce platforms is facilitating the accessibility of breakfast cereals to consumers across various regions, positively impacting the market.
India breakfast cereals market is witnessing growth due to changing consumer preferences and urbanization. However, the industry faces challenges related to the perception of processed and packaged foods as being less healthy. Manufacturers need to address these concerns by offering nutritious and wholesome breakfast cereal options to meet the demands of health-conscious consumers.
The breakfast cereals market in India encompasses a wide range of ready-to-eat breakfast options such as cornflakes, oats, muesli, and other cereal-based products. The market has been witnessing significant growth due to changing lifestyles, urbanization, and the increasing acceptance of Western dietary habits. However, regional food preferences and competition from traditional India breakfast options can influence the market`s growth.
Prominent companies in the India breakfast cereals market consist of Cerealicious India Pvt. Ltd., MorningStart Nutritionals, HealthyMunch Cereals India, CrunchyDelights Breakfasts Pvt. Ltd., and NutriCrunch Foods India.