Growth in both retail current value sales and retail volume sales of breakfast cereals will accelerate during 2020. Consumer stockpiling during the early stages of the pandemic will be the main driver of this.
Despite price increases during 2019 and early 2020, demand for breakfast cereals remains robust. Most products are imported and target urban middle class consumers, whose incomes tend to be relatively stable.
Cereal Partners Worldwide, a joint venture between General Mills and Nestlé, remains the clear leader in breakfast cereals in Uzbekistan. It offers a wide variety of breakfast cereals, ranging from globally recognised brands like Nestlé and Nesquik to such local/regional brands as Bogatstvo Zlakov and Bistrov.
Hot cereals will continue to account for the bulk of retail volume and current value sales in breakfast cereals in Uzbekistan during forecast period. Uzbekistan still has quite a low level of per capita consumption of breakfast cereals, even by the standards of neighbouring countries like Kazakhstan and Turkmenistan.
Muesli and granola will remain the best performer in breakfast cereals in terms of retail current value sales growth over the course of the forecast period, albeit from a fairly low base. The product offer is widening, consumer awareness is rising, and the distribution of these products is broadening as modern grocery retail outlets proliferate.
Local players like Asian Food MChJ and Davanti Product MChJ offer relatively affordable products in a highly price-sensitive environment. These players have the opportunity to leverage their intimate knowledge of local consumers to develop new products tailored to local consumer tastes and preferences.
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Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in Uzbekistan 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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