Edible Flakes Market is Projected to Register 6.3% CAGR till 2027
The global Edible Flakes Market size is expected to reach USD
28.34 billion by 2027, expanding at a CAGR of 6.3% over the forecast period,
according to a new report by Grand View Research, Inc. Rising consumers’
consciousness regarding more healthy and nutritious food in the busy and hectic
lifestyle is a key factor fueling the market growth. Moreover, shifting
consumers’ dietary preferences in order to follow a healthy lifestyle are
anticipated to expand the scope of edible flakes over the forecast period.
Over the past few years, consumption of oats and oatmeal has
been significantly increasing as they contain vitamins, iron, soluble fibers,
and antioxidants. Moreover, they help in improving the blood sugar levels,
lowering the risk of cardiovascular diseases, and reducing weight. These health
benefits are opening new avenues for these edible flakes, thus boosting the
market growth over the forecast period.
North America emerged as the largest regional market for
edible flakes with a share of more than 35.0% in 2019 owing to high consumption
of corn flakes across countries, including U.S., Canada, and Mexico. Moreover,
consumption of oats has increased in the recent years due to increasing obesity
problems in the region. These trends are anticipated to fuel the market growth
in the region over the forecast period.
The edible flakes industry is consolidated in nature owing to
the presence of strong players with large customer base across the globe.
Moreover, major players are adopting various market strategies, including
merger and acquisition, for expanding their customer base. For instance, in May
2018, Nestlé S.A. announced a joint venture with General Mills to sell a wide
variety of products in India. These market trends are anticipated to boost the
demand for edible flakes over the forecast period.
Further key findings from the study suggest:
- By product,
corn flakes accounted for the largest share of more than 40.0% in 2019. It
is expected to maintain its lead over the forecast period owing to large
consumption among working class people around the globe, especially in
North America and Europe
- Oat flakes
are anticipated to exhibit the fastest CAGR of 6.6% from 2020 to 2027
owing to increasing demand for healthy food among young generation across
the globe
- Offline
distribution channel held the largest share of more than 75.0% in 2019 and
is expected to maintain its lead in future due to increasing consumer
preferences for brick and mortar stores that offer a choice of physical
verification while purchasing
- Asia Pacific
is anticipated to exhibit the fastest CAGR of 7.1% from 2020 to 2027 owing
to growing trend of ready-to-eat breakfast among the working class people
as well as college grads of countries, such as China and India
- Key market
players include Nestlé S.A.; The Kellogg Company; General Mills Inc.; The
Quaker Oats Company; Dr. August Oetker KG; PepsiCo Inc.; Bagrry's India
Ltd.; Marico Ltd.; H. & J. Brüggen KG; and Nature's Path Foods.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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