Largely as a result of COVID-19, growth in retail current value sales of breakfast cereals will accelerate sharply during 2020. With many schools and workplaces closed for an extended period earlier in the year, a lot of people were spending more time at home, and this has provided a significant boost to demand for breakfast cereals.
Taking COVID-19 out of the equation, retail current value sales of breakfast cereals are fairly mature in Latvia, with a shrinking population and a low fertility rate weighing on demand growth: During the latter part of the review period – prior to the pandemic – growth in retail volume sales had been very weak. However, manufacturers are leveraging value-added products to eke out retail current value sales growth.
International manufacturers Nestlé Baltics UAB, which a subsidiary of Cereal Partners Worldwide SA, and Kellogg Co dominate value sales of breakfast cereals in Latvia, accounting for just over half of value sales between them in 2020. Both offer a wide portfolio of brands – Fitness, Cini Minis, Nesquik and Cheerios for the former and Kellogg’s Frosties, Kellogg’s Corn Flakes, Kellogg’s Crunchy Nut and Kellogg’s Choco Krispies in the case of the latter.
As daily life returns to normal in the wake of the pandemic, growth in retail current value sales of breakfast cereals is forecast to slow to its lowest rate in a decade during 2021. With schools operating normally again, growth in retail current value sales of children’s breakfast cereals will see the sharpest slowdown.
Muesli and granola will see no more than a modest slowdown in retail current value sales during 2021 and will be the best performer in breakfast cereals during the forecast period as a whole, as it will continue to be buoyed by the health and wellness trend. Muesli and granola are perceived as offering similar health benefits to hot cereals but are regarded as being much more convenient as they do not require the same level of preparation.
The imminent arrival of German discounter Lidl in Latvia is likely to boost the presence of private label products in breakfast cereals. Grocery retail chain Rimi Latvia SIA’s ICA private label brand already ranks seventh in terms of retail value share, demonstrating the potential of private label in breakfast cereals.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Breakfast Cereals industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Breakfast Cereals research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page