Breakfast cereals are no longer only consumed for breakfast, with consumers increasingly eating products in this area during the day and as snacks. High versatility makes breakfast cereals ideal snacks, with manufacturers promoting muesli and granola not only for meals but also for direct consumption as snacks.
All breakfast cereals are unified and fall under tariff item classification number 1904 of the Goods and Services (GST) regime, with the new fixed levy of 18% being below the previous 26%. This new lower tax rate boosted value sales during 2018 since many breakfast cereals manufacturers have passed on benefits to consumers by reducing the annual hike in unit prices.
Consumers are gradually moving towards hot cereals, muesli and granola from flakes as they have started to realize the health benefits of the former. Consequently, retail value growth within flakes was lower than for other breakfast cereals during 2018.
Kellogg India, the leading player in breakfast cereals, continued to launch new products during 2018 to suit the needs of consumers. During October 2018, Kellogg launched Kellogg Choco Fills, which can be consumed as a breakfast cereal for children and as a snack.
The company also claims Kellogg Choco Fills is a healthy breakfast cereal since it is baked and not fried, made with rice, oats and wheat. The brand also provides protein and fibre, is fortified with vitamin B, and is naturally cholesterol-free.
During July 2018, Nestlé India launched its NesPlus brand and officially entered breakfast cereals in India. The range of products under NesPlus includes Kokos, Choco-Burst Fillows, Strawberry-Burst Fillows and Nutty Honey Granola.
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This industry report originates from Passport, our Packaged Food market research database.