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Edible Flakes Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global edible flakes products market was valued at USD 3.2 billion in 2020, and is projected to expand at a CAGR of 11.0% from 2021 to 2028. Edible flakes products are gaining popularity owing to their convenience, easy and quick preparation, and long shelf life. The snack category has witnessed a surge in demand due to the increasing consumer preference for convenience and ready-to-eat food. Edible flakes products provide a personalized, convenient, and healthy snacking solution for consumers. These products are available in various flavors, and have a crunchy texture, which appeals to the consumer’s taste buds. Therefore, an increase in consumer preference for these products is boosting the market growth.
The increasing demand for vegan and plant-based products is also driving the market growth. To meet the consumer demand for healthy snacks, manufacturers are focusing on launching vegan-friendly edible flakes products. For instance, in October 2020, Kellogg launched a plant-based protein cereal brand named Incogmeato by MorningStar Farms, which is the first plant-based cereal with flakes.
The growing demand for food products with natural ingredients is also driving the market. Manufacturers are focusing on incorporating natural ingredients in edible flakes products. For instance, in June 2020, Nestle launched two vegan-friendly cereal products under its Nesquik brand. These products are made with natural ingredients, are low in sugar, and are suitable for breakfast and snacking.
The rising demand for organic edible flakes products is also driving the market. Manufacturers are increasingly focusing on organic ingredients to produce edible flakes products. For instance, in October 2020, Nature’s Path launched Organic Flax Plus cereal, which is made with organic and vegan ingredients. Furthermore, the increasing consumer inclination towards health and wellness is expected to support the market growth in the coming years.
Product Insights
The breakfast cereal segment led the market and accounted for a share of around 30.3% in 2022. In recent years, the demand for breakfast cereals has increased significantly due to their convenience and the wide variety of flavors and textures available. According to an article published by Morning Foods, in January 2020, approximately 66% of breakfast cereal consumers said they would be willing to pay more for a healthier product. Furthermore, changing lifestyles, increased health awareness, and rising demand for convenience foods are driving the growth of the breakfast cereal market.
The snack flakes segment is anticipated to expand at the fastest CAGR of 8.4% over the forecast period. Increasing demand for quick snacks and ready-to-eat food products among consumers has been driving the growth of the snack flakes market. According to an article published by the University of California, in March 2020, the demand for snack flakes has increased as it is a convenient option for consumers to provide a healthy snack. In addition, increasing awareness of the health benefits of snack flakes, such as reduced cholesterol levels, is another factor driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the market in 2022. The increasing trend of online grocery shopping and the convenience of shopping in one place are the major factors driving the growth of the segment. Supermarkets & hypermarkets also provide a wide range of products to the customers, which helps them make well-informed decisions. According to a report by the Food and Agriculture Organization (FAO), around 43% of consumers prefer to shop for food products through supermarkets and hypermarkets.
Convenience stores are expected to witness the fastest growth over the forecast period. The segment is driven by the increasing demand for on-the-go food products. Convenience stores offer a wide range of convenience food products, such as edible flakes, which is driving the growth of the segment. Also, the increasing number of convenience stores in developing countries is expected to propel the growth of the segment. According to the International Council of Convenience Stores, the number of convenience stores is expected to reach 5.3 million by 2023.
Type Insights
The organic segment accounted for the largest revenue share of 42.7% in the year 2022. The surge in the demand for organic products is mainly due to the increasing awareness of health and wellness among consumers. Also, the rising health concerns related to the consumption of artificial food products is leading to the adoption of organic foods. The increasing demand for organic products and the presence of a few large players in the organic market, such as General Mills and Kellogg’s, are also driving the growth of the segment.
The conventional segment is anticipated to expand at the highest CAGR of 4.5% over the forecast period. The increasing availability of conventional edible flakes products, such as Corn Flakes, Rice Flakes, and Oat Flakes, at competitive prices, is the key factor contributing to the growth of the segment. Furthermore, the growing demand for ready-to-eat snacks is expected to drive the growth of the conventional edible flakes market.
Regional Insights
Europe is expected to dominate the global edible flakes products market and accounted for the largest revenue share of over 35.2% in 2022. This can be attributed to the high demand for the product in the region, due to its convenience and health benefits. The rising preference for ready-to-eat breakfast meals in the region is also driving the growth of the market. Moreover, the introduction of new flavors and varieties of edible flakes products in Europe is further boosting the market growth. For instance, in June 2021, Nestlé launched a new range of breakfast cereal products under the brand name ‘Nestlé Fitness Flakes’ in Europe.
Asia Pacific is expected to witness the fastest growth in the coming years. This is attributed to the increasing demand for edible flakes products in the region, driven by the growing health consciousness among consumers. Moreover, the increasing number of product launches in the region is further boosting the growth of the market. For instance, in May 2021, Kellogg’s India launched a new product range called ‘Kellogg’s Corn Flakes Kissan Jam’.
Financial Projections
In this part of the business plan, we will provide a detailed breakdown of all income and expense categories of the edible flakes products business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an edible flakes products business comes from the sale of products. Here you will find a list with a description of each product and other possible sources of profit such as website sales, wholesale sales, and catering services.
Projecting Expenses
In this section, all the regular expenses related to keeping the edible flakes products business running will be described. The list of operating expenses includes ingredient costs, packaging costs, payroll costs, rent, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the edible flakes market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, Kellogg Co. launched a new line of breakfast cereals called ‘Edible Flakes’, which are made with a blend of wheat, oats, and barley.
– In June 2022, General Mills, Inc. launched a new line of breakfast cereals called ‘Edible Flakes’, which are made with a blend of corn, oats, and wheat.
– In October 2022, Quaker Oats Company launched a range of edible flakes with added probiotic cultures for digestive health benefits.
Some of the prominent players in the edible flakes market include:
– Kellogg Co.
– General Mills, Inc.
– Quaker Oats Company
– Post Holdings, Inc.
– Nestlé S.A.
– PepsiCo, Inc.
– Conagra Brands, Inc.
– Grupo Bimbo S.A.B. de C.V.
– Dr. Oetker GmbH
– SunOpta, Inc.
Global Edible Flakes Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global edible flakes products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Cereal Flakes
– Potato Flakes
– Corn Flakes
– Rice Flakes
– Oat Flakes
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Regular Flakes
– Healthy Flakes
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the key factors driving the edible flakes products market?
[A]: The key factors driving the edible flakes products market are the rising demand for convenience foods, increasing health consciousness among consumers, and the growing popularity of plant-based proteins. The increasing popularity of plant-based proteins is expected to fuel the growth of the market. Additionally, the increasing demand for convenience foods, such as ready-to-eat snacks, is expected to drive the edible flakes products market.
[Q]: Who are the major players in the edible flakes products market?
[A]: Some of the major players in the edible flakes products market are General Mills, Inc., Kellogg’s Company, Post Holdings, Inc., Conagra Brands, Inc., Nestlé S.A., Barilla Holding S.p.A., Grupo Bimbo, S.A.B. de C.V., The Hain Celestial Group, Inc., and PepsiCo, Inc.
[Q]: What is the potential for growth in the edible flakes products market?
[A]: The edible flakes products market is expected to grow at a CAGR of 5.2% over the forecast period, driven by the rising demand for convenience foods, increasing health consciousness among consumers, and the growing popularity of plant-based proteins. Additionally, the rising demand for plant-based proteins such as quinoa, buckwheat, and amaranth is expected to propel the market.
[Q]: What type of edible flakes products are most popular?
[A]: The most popular edible flakes products are breakfast cereals, such as corn flakes, wheat flakes, oats, and rice flakes; savory snacks, such as potato chips and tortilla chips; and frozen products, such as waffles and pancakes.
[Q]: What region offers the largest opportunity for sales of edible flakes products?
[A]: Asia Pacific is expected to be the largest market for edible flakes products, with an absolute dollar opportunity of $7.1 B (USD). This growth is attributed to the rising demand for convenience foods, increasing health consciousness, and the growing popularity of plant-based proteins.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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