By Kacey Culliney,18-Jan-2013
 |
Cereals in India is a great example of the
shift from non-packaged
to packaged, says Ayton
|
Manufacturers should stand poised to cash in on India’s burgeoning packaged breakfast cereal market, an analyst says. The Indian breakfast cereal market was pegged at $139m for 2012, with market growth doubling over the last six years, according to new Mintel research.
Peter Ayton, global consumer analyst at Mintel, described the market as interesting as it epitomizes opportunities presented by the shift away from non-packaged, low-value goods.
“Cereals epitomize the growth potential there is in India with the shift to packaged goods. Packaged breakfast cereals is a really interesting sector in India because it’s not only replacing non-packaged items but also cooked, traditional breakfasts,” Ayton told BakeryandSnacks.com.
“It’s creating a national market in place of a traditional food type that is very regional,” he said.
“It is still a small market in the scheme of things but it is growing fast and the background to this is affluence. There’s growing affluence and greater urbanization but another factor is that the in-home market is pretty good in the country.”
Ayton noted that overall consumer expenditure in India is set to increase by 13% each year for the next three years.
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