UK Breakfast Cereal Market to Grow 20.9% to 2016 Says New Report
The report ‘Breakfast Cereals Update:UKMarket Report 2012’ examines the breakfast cereals industry in theUK. It values the current market at £1.48bn, after growing by 4.3% in 2011.
The 64 page report divides the industry into two principle categories: ready-to-eat (RTE) and hot cereals. Although the former accounts for the vast majority of the market (89.5%), it is the latter that is growing leaps and bounds. Porridge is now the favourite cereal in theUK. In 2011, the hot cereals subsector grew by 24% to £155m, while RTE cereals, on the other hand, grew a more moderate 2.4% to £1.33bn.
The 64 page report expects the breakfast cereals market will continue to grow with strength over the next 5 years. 2012 is set to be a particularly important year with the Queen's Diamond Jubilee, theLondonOlympic and Paralympic Games and the European Football Championship. Manufacturers will maximise sales during these events by introducing products that enable consumers to partake in the hoopla. Innovation will additionally be key to the success of breakfast cereals, while interactive campaigns will play an increasingly important role in the industry. This report predicts that the market will grow by 20.9% over the next 5 years, reaching £1.9bn in 2016.
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