As a result of COVID-19, the demand for breakfast cereals across most retail channels has increased in Costa Rica in 2020. Lockdown restrictions mean more consumers are seeking out convenient snacks and comfort foods which they can easily keep stocked at home, and which are flexible enough to be adapted to different consumption occasions during the day.
The international players Kellogg and Nestlé will continue to lead breakfast cereals in 2020, accounting for half of retail value sales between them. They benefit from easy recognition, broad ranges and wide availability.
Low-priced generic proposals targeted at children will remain popular in breakfast cereals in 2020 for low- and middle-income consumers, with an emphasis on pricing and availability as sales drivers. This is particularly important as many consumers face lower disposable incomes as a result of COVID-19.
Good development opportunities are anticipated for added-value features such as gluten-free, non-GMO, organic and no-added-sugar formulations over the forecast period. These types of added-value healthier proposals are expected to increase their penetration among a wider base of younger millennial consumers and tourists, benefiting from the ongoing global dietary trends in relation to more natural dietary approaches.
In addition to the adoption of multiple added-value claims as well as pricing competition, breakfast cereals sales will continue to be driven by point-of-sale availability, brand awareness and perceptions of quality. Segmentation efforts will continue to bring additional levels of specialisation to breakfast cereals, in which better-off millennial consumers are increasingly addressed by local and imported products looking to meet their taste preferences and functional nutritional expectations.
Spurred on by the COVID-19 pandemic, e-commerce is likely to become increasingly popular into the forecast period and most relevant breakfast cereal brands are expected to become more active building up their brand online. This will be especially important when communicating new product launches and establishing a strong brand positioning.
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This report originates from Passport, our Breakfast Cereals research and analysis database.
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