Edible Flakes Market– Statistics And Analysis & Forecast To 2027Posted by Mrudula Anil Karmarkar on April 23rd, 2021 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 2020 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. Over the past few years, there has been a gradual shift in consumers’ food preferences owing to increasing employment across the globe. Consumers have comparatively less time for cooking at home, which has propelled the demand for ready-to-eat food products, such as corn flakes, oat flakes, and other edible flakes. Further key findings from the study suggest:
According to the World Employment and Social Outlook report released by the International Labour Organization (ILO), in 2018, the global working population was 3.3 billion comprising people aged 15 years and above. The working population is increasingly adopting ready-to-eat food products for easy preparation of meals. These consumer trends are anticipated to fuel the demand for edible flakes over the forecast period. Ready-to-eat cereal-based food products such as oats, corn, wheat, and rice flakes have excellent nutritional properties, which are required to fulfill on a daily basis for proper working of the body. For instance, corn flakes are rich in iron and vitamin B6 content, oat flakes are rich in antioxidants and soluble fiber, wheat flakes are rich in dietary fiber, and rice flakes are rich in carbohydrates. These edible flakes are appealing to consumers with less or no time to cook food at home and want whole nutritional foods. These foods are gaining popularity among consumers due to increasing obesity and overweight problems across the globe as they help in reducing weight. Edible flakes such as oats are globally adopted as a diet food as they help in weight management. Oats and oatmeal are gluten-free whole grain with great health benefits, such as improvement in the blood sugar levels, reduction in the risk of cardiovascular diseases, and weight loss. These nutritional properties as well as consumer trends are anticipated to boost the demand for edible flakes over the forecast period. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450269/ibb The market is consolidated in nature owing to the presence of strong players with large customer base in almost every region. Moreover, a large number of domestic players are present at the regional level but the popularity of their products is not high. Furthermore, major players in the market are continuously expanding their product portfolio with regional flavors in order to maintain customer base. Major edible flake manufacturers are adopting various market strategies, including product launch, merger & acquisition, and expansion of distribution channels, in order to capture the greater market share and expand the customer base across the globe. For instance, in May 2018, Nestlé S.A. announced a joint venture with General Mills to sell a wide variety of products in India. Nestlé S.A. has a large number of products in breakfast cereals, such as corn flakes, KoKo Krunch, and Honey Star. These market strategies are expected to have a positive impact on the industry growth over the forecast period. Grand View Research has segmented the global edible flakes market on the basis of product, distribution channel: Edible Flakes Product Outlook (Revenue, USD Million, 2016 - 2027)
Edible Flakes Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
About Grand View Research 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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |