Huge Demand For Natural Food Bolsters Edible Flake Industry Growth
Thursday, June 18th, 2020 | 450 Views
New edible flakes have realised a lot of changes in how people over the world expend breakfast. The steady requirement for having nutritious breakfast and kicking off the day has made ready for prepared to-have breakfast alternatives as of late. Edible flakes, including wheat flakes, corn flakes, and rice flakes have developed as one of the heartiest breakfast choices over the previous decade, because of which edible flakes showcase is seeing steady development. Furthermore, the developing tendency toward a more beneficial way of life, especially among twenty to thirty-year olds has given an impressive lift to the reception of edible flakes as of late – a pattern that is set to keep during the conjecture time frame (2019-2029).
The global edible flakes market is expected to be valued at ~US$ 9.9 Bn in 2019, which is projected to rise at a CAGR of 8.5 percent, to reach US$ 22.3 Bn by 2029.
However, food regulations continue to scrutinise the sugar levels in different food products. For several years, edible flakes have received a lot of criticism due to the high amounts of sugar per serving in these products. Stakeholders in the edible flakes market have started to focus on curbing the sugar levels of their products due to stringent regulations, and growing consumer awareness regarding the ill effects of high sugar consumption.
Growing Demand for Natural Food Boosts Sales of Edible Flakes
Consumption of natural and plant-based products is increasing due to the health halo surrounding plant-based ingredients and products. Consumers have become more aware and make informed food choices. They prefer foods that are free from chemicals. Thus, consumers are influenced by ingredients used in processed foods and their potential health effects. Different plant-based flakes, such as corn flakes, rice flakes, wheat flakes, and others are derived from different grains and are thus, preferred by consumers as healthy breakfast options.
Increasing Per Capita Expenditure on Prepared Food to Spur Growth
With increasing urbanisation and rise in purchasing power, customers are spending more on prepared, processed, and ready-to-eat food. This saves time that is normally required to prepare traditional breakfasts or meals. Increasing spending on ready-to-eat food is also driving the global edible flakes market, and this trend is expected to continue during the forecast period. In addition, consumers across the globe are shifting towards the consumption of products that are easily available and contain a high level of nutrition.
Increasing Product Innovation in Food & Beverages Industry to Positively Impact Growth
The pace at which new technologies are impacting the food sector is quite high, and it has become necessary for global manufacturers to increase the scale and speed of their R&D efforts. Keeping that in mind, a variety of edible flakes are now made available in their purest forms by several commercial vendors. Hence, it is anticipated that different varieties of edible flakes could also launched in the coming years following the increase in research and development expenditure. Big companies are constantly using R&D efforts in order to achieve innovative new products and to explore new market possibilities. Therefore, this rise in R&D by the top players is expected to attract a large number of consumers in the coming years.
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