Retail volume sales of breakfast cereals are set to see a solid uptick in growth in 2020, following several years of broadly negative growth trends. COVID-19 is the main factor in this trend.
Consumer health awareness has surged in 2020 as a result of the pandemic, and although demand for breakfast cereals continues to be buoyed by demand for convenience, they are increasingly perceived as an unhealthy and over processed option. Consumers are well aware that obesity is a high-risk factor when it comes to infection, and many are seeking to manage weight by cutting down on sugary, over processed products where possible.
Over the review period, hot cereals generated a positive CAGR in volume terms, in contrast to RTE cereals, and like RTE cereals, is set to see a spike in demand in 2020 on the back of the pandemic. There are a number of reasons for the stronger performance of hot cereals.
Health trends will strengthen going forward, as lingering consumer anxiety about the virus makes them look harder at their diets. One interesting development in 2020 may be set to open opportunity going forward.
Muesli and granola are forecast to see volume growth over the forecast period, in contrast to total breakfast cereals. There are a variety of reasons for this, in particular the anticipated strengthening of health trends – these products are perceived by Colombians as a healthier option.
Historically, Colombian breakfast cereals has seen little innovation, with consumers typically buying larger family sized packs to be consumed at breakfast. However, rising consumer demand for convenience has seen the growth of product development that is not only shifting breakfast cereals away from this type of packaging, but widening the possibility of consumption outside breakfast time.
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Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Breakfast Cereals research and analysis database.
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