In 2020, breakfast cereals benefited as consumers spent more time eating meals, including their breakfast, at home, a result of pandemic-related lockdowns and various precautionary restrictions on movement, gathering and foodservice. In the early months of 2020, some households stockpiled considerable amounts of breakfast cereal as they prepared for the lockdown and even as restrictions are eased as the year progresses, demand continues to be strong, boosting retail volume and value sales.
While growth slowed a bit, retail volume sales and current value sales of hot cereals nevertheless posted strong double-digit growth in 2020. Although starting from a low base, sales of hot cereals are still set to post the greatest growth, by far, amongst all segments in the breakfast cereals category.
Increasing its value share slightly, large international player Nestlé Adriatic BH doo held its strong leadership in the breakfast cereals category in 2020, a position which it has held throughout the review period. The company’s brands are trusted and very well-known in Bosnia and Herzegovina.
The rising value sales of breakfast cereals posted in 2020 are projected to subside in 2021 as well as over the remainder of the forecast period as more consumers, including children, venture out of their homes and return to the habit of frequently consuming their breakfast meals outside of their homes, whether at work or in school, in foodservice outlets or on-the-go. Indeed, demand for breakfast cereals, which stepped up and served as convenient meals and snacks during the lockdown, will diminish as more breakfast options become available over the forecast period.
For the most part, consumers in Bosnia and Herzegovina have always been price-conscious and they have tended to look for the best prices when shopping for packaged foods such as breakfast cereals. This feature of consumer behaviour is expected to be of even greater importance over the forecast period as price-sensitivity elevates as a result of consumers’ concerns about pandemic-inspired rises in unemployment and the impact of a precarious job market on household budgets.
As was the case during the review period, store-based channels continued to dominate distribution in breakfast cereals in 2020. On the other hand, as easy access to brick-and-mortar grocery retailers was stifled somewhat due to the pandemic, a growing number of consumers chose to shift to e-commerce and online grocery shopping, including online shopping for breakfast cereals.
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This report originates from Passport, our Breakfast Cereals research and analysis database.
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