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Report Overview: Edible Flakes MarketThe global edible flakes market size was valued at USD 16.32 billion in 2020 and is expected to witness significant growth in the years to come. Rising adoption of ready-to-eat food products among the working class population, millennials, and college grads is a key factor fueling market growth. Moreover, shifting consumer dietary preferences and rising consumption of processed food with fortified functional ingredients have offered new growth opportunities for the market. 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. 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 2021-2027. 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.
Product Insights: Edible Flakes MarketCorn flakes led the edible flakes market and held a share of more than 40% in 2019. The segment is expected to maintain its lead over the forecast period owing to its large consumption among working class people around the globe, especially in North America and Europe. Breakfast cereal is one of the biggest markets in the U.S. Moreover, after the introduction of corn flakes in the late 1800s by Kellogg brothers in the U.S., these products have maintained their popularity in the country till date. Oat flakes are anticipated to expand at the fastest CAGR of 5.5% from 2020 to 2027 owing to increasing demand for healthy food among young generation across the globe. These products are full of vitamins, antioxidants, and soluble fiber, commonly known as Beta-Glucan, which increases the feeling of fullness and growth of good bacteria in the body.
Distribution Channel Insights: Edible Flakes MarketThe offline distribution channel held the largest share of more than 75.0% in 2019.
Supermarket companies including
Regional Insights: Edible Flakes MarketNorth America emerged as the largest regional market for edible flakes with a share of more than 35.0% in 2019 owing to the presence of countries with large consumption of breakfast cereals, such as U.S. Moreover, consumers in the region are gradually including healthier food products, such as wheat and cereals snacks, in their daily diet. Increasing obesity problems in the region are opening new avenues for the product. Asia Pacific is anticipated to expand at the fastest CAGR of 6.0% 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. India is one of the countries with the highest consumption of rice flakes as a large number of dishes are prepared in the country. Moreover, corn flakes are gaining popularity among consumers in the country.
Edible Flakes Market Share Insights: Edible Flakes MarketThe 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. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global edible flakes market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market | read more...