Market Trends of Cereal Ingredients Industry
This section covers the major market trends shaping the Cereal Ingredients Market according to our research experts:
Increase in Demand for Products with Health Benefits
The market for gluten-free cereal-based products has witnessed an increasing trend due to the rising risk of celiac disease (CD). For example, the prevalence of CD in the United States varies from 4.5% among first-degree relatives of CD-affected patients to 0.5%-1.0% in the general population and is increasing over time. A strict gluten-free diet is the only available treatment for CD; it relieves symptoms, achieves mucosal healing, and prevents disease complications. This is majorly driving the gluten-free sector of the market. Also, according to Mayo Clinic, 3.1 million Americans are shifting toward gluten-free diets, where 72% of them are classified as people without celiac disease avoiding gluten (PWAG). These people have been ditching gluten without a celiac diagnosis in order to join the trend of gluten-free consumption.
Asia-Pacific is the Fastest-growing Region of the Market
In the Asia-Pacific region, China dominates the market, contributing the maximum market share, followed by Japan and Australia. According to NBSC, It is estimated that an average Chinese individual consumes more than 100 kilograms of cereals in a year. This is due to the change in breakfast cereal consumption patterns and inclination toward healthier products. Also, increased adoption of the Western lifestyle is one of the driving factors for market sales. Product development of low-carb, high-fiber, multigrain, and fortified breakfast cereals that appeal to health-conscious consumers has triggered the market growth. In addition to functional health benefits, incorporating natural ingredients, such as natural preservatives, antioxidants, and enzymes in breakfast cereals is on the rise. Expanding retail distribution channels are another factor driving sales in rural and relatively small cities.
