Innovations in ingredients, flavours and textures will fuel growth in cereals, says the market research specialist, with consumers eager to find new taste experiences.
Taste concerns are important for both genders. However, women’s consumption is influenced by this factor 1.5 times as much as men’s, indicating women are more likely to trade up for indulgent experiences.
According to Canadean analyst Veronika Zhupanova, “Even in categories traditionally seen as targeting healthy lifestyles, such as breakfast cereals, indulgence is by far the most important consumption motivator. To engage consumers in the fastest growing segment, manufacturers should innovate with novel fillings such as combinations of sweet and savoury, for example, pomegranate and salty pistachio.
“To enhance the indulgent experience, manufacturers can suggest pairing cereal with flavoured milk, creating novel, rich tastes.”
Older consumers are a key demographic for marketers to target, with those aged 55 and over being responsible for over a fifth of all bakery and cereals consumption occasions in France.
This group is heavily reliant on the sector, with over half of consumption among those aged 55 and over resulting from eating bakery and cereals products at least eight times a day.
This age group’s proportion in French society will increase from 30.5% to 32.2% during 2013-2018, meaning their importance will only grow.
In France, consumption volume of breakfast cereals is growing 2.4 times faster than the saturated bakery and cereals market. Valued at €21bn in 2013, the French bakery and cereals market is the slowest growing across major European countries.
While overall growth is low, breakfast cereals are fast increasing in popularity, with this growth being fuelled by France’s ageing population and a desire for indulgent cereal options.
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