Europe edible flakes is likely to reach over USD 10 billion over the forecast spell. The consumer spending on healthier, and convenient foods grew due to promising economic development over the last few years. For instance, consumers in Germany have a developed preference for products with good health and wellness characteristics. Asia Pacific shows prominent future for edible flakes market with a CAGR around 11%. This is all due to the shift in population growth coupled with positive economic trends over the time. Hence, will drive the food and beverage industry leading to rise in global market by 2025.
Based on revenue, Asia Pacific will prove to be the fastest growing region for the edible flakes market growing with a CAGR over 11% in future. This is all due to the shifting food consumption pattern. Moreover, surge in health concerns among the customers will augment the sale of edible flakes across the region in the projected timeframe.
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Edible flakes market is divided into product and distribution channels. Based on product, the market is segmented into four major products which include corn, rice, wheat flakes and flakey oats. Corn flakes segment is likely to grow with a CAGR more than 8% in upcoming years due to increasing popularity of nutritious food products. Rice flakes segment will capture around 4% volume share at the end of 2025.
Accessibility of numerous substitute products such as protein bars, yoghurt, fresh fruits, energy drinks, etc. coupled with lactose intolerance in some regions may prove to be an obstacle in the growth of edible flake market in the recent years. Nevertheless, increasing awareness for fitness and healthy eating habits will positively drive the product industry share in the coming timespan.
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The distribution channel segment is further segregated into online retailers, supermarkets & hypermarkets and convenience stores. Convenience stores apprehends a considerable market share in the forecast period with a CAGR over 8%.
The key manufacturers with a widespread presence in the market are Kellogg's, Nestle S.A., General Mills, Dr. August Oetker, Post Holding Company, Nature's Path Foods, H. & J. Bruggen KG, Patanjali etc.
Growing urbanization couple with shortage of time are altering people's lifestyle. Presently, a large part of the global population is residing a drift towards processed and ready-to-eat cereals. The above mentioned trends are boosting the demand for the use of edible flakes in breakfast and evening snacks. Furthermore, people shift towards healthier way of life are propelling the edible flakes market in the near future.
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Significant consumption of edible flakes in Asia Pacific is swelling the entire product market in future owing to the minimal cost and various health benefits offered by the product. However, increasing spending power and rising per capita income is majorly fueling the food and beverage industry in the region, i.e. directly swelling the edible flakes market in the expected timeframe.
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