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.
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https://www.grandviewresearch.com/industry-analysis/edible-flakes-market
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.
