.gif){kind=logo}
(photo courtesy of How Things Work)
Manufacturers offering convenience, as well as health and wellness, could see the most growth in a market that is increasingly competitive, according to a new report by Mintel entitled Breakfast Foods: The Market - US - November 2008 (The report can be purchased for $3,995 here).
According to its findings, marketers of breakfast foods are innovating with better-for-you options and convenient solutions with ease-of-use and portability. Segments with these benefits are showing the most growth in areas such as cereal bars, yogurt, yogurt drinks, and breakfast entrées. "Consumers have a wide array of breakfast food choices available within the retail environment, making switching between segments a common occurrence depending on needs and occasion." The report said the breakfast food market has suffered from the "time-crunch" that consumers feel in the morning, as well as from the growing number of foodservice breakfast options. The three health-related areas include:
1.) diet-slanted products (health by subtraction)
2.) functional health (health by addition), and
3.) and health via ethical manufacturing processes
"Time proves to be highly influential in the breakfast foods market. With most products aligning with two distinct breakfast types - quick breakfasts (easy to use, easy to prepare, portable) and leisurely traditional breakfasts." Mintel adds "While it is unlikely that consumers will forgo staples like bread and eggs due to rising prices, the implication may affect the breakfast foods market through a change in consumer shopping patterns. Consumers may seek out lower prices at mass merchants and club stores and/or trade down to private label products."
According to its findings, marketers of breakfast foods are innovating with better-for-you options and convenient solutions with ease-of-use and portability. Segments with these benefits are showing the most growth in areas such as cereal bars, yogurt, yogurt drinks, and breakfast entrées. "Consumers have a wide array of breakfast food choices available within the retail environment, making switching between segments a common occurrence depending on needs and occasion." The report said the breakfast food market has suffered from the "time-crunch" that consumers feel in the morning, as well as from the growing number of foodservice breakfast options. The three health-related areas include:
1.) diet-slanted products (health by subtraction)
2.) functional health (health by addition), and
3.) and health via ethical manufacturing processes
"Time proves to be highly influential in the breakfast foods market. With most products aligning with two distinct breakfast types - quick breakfasts (easy to use, easy to prepare, portable) and leisurely traditional breakfasts." Mintel adds "While it is unlikely that consumers will forgo staples like bread and eggs due to rising prices, the implication may affect the breakfast foods market through a change in consumer shopping patterns. Consumers may seek out lower prices at mass merchants and club stores and/or trade down to private label products."
For information about licensing, contact Broad Street Licensing Group (tel. 973-655-0598)
Posts
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.