The Asia Pacific Cereal Ingredients Market size has been estimated at USD 162 Million in 2022 and is projected to reach USD 212 Million by 2028, at a CAGR of 5.12% during the forecast period from 2023 to 2028.
Cereal ingredients are rich in fiber and nutrition, with vitamins, minerals, carbohydrates, fats and proteins, due to which it is used mostly as a breakfast option. Cereal crops are cultivated for their edible component which is a great source of energy to humans. In developing countries of Asia-Pacific region, cereal ingredients such as rice, corn, and wheat are the source of daily sustenance. Cereals are also popularly used in kitchens for their prolific growth and plentiful production, due to which the market for cereal ingredients in growing rapidly in Asia-Pacific region.
The factors that are driving the market growth for cereal ingredients are Fast-paced lifestyle along with an aspiration to stay fit, changing consumer preference, increasing urban population, increasing health issues which are making people to resort to healthier options. But the market growth can be constrained due to high prices of cereal ingredients and cereal products, along with high palm oil price, which is one of the main ingredients in the making of cereal products.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
Asia-Pacific market for Cereal Ingredients is segmented based on type and application. By type, the market is further sub-segmented into Wheat, Rice, Oat, Corn, Barley. By application, the market is further sub-segmented into Hot Breakfast Cereal, Cold Breakfast Cereal.
Geographically, Asia-Pacific market for Cereal Ingredients is segmented into China, Japan, India, South Korea and Australia. Asia-Pacific is expected to witness the highest growth with high CAGR owing to factors like economic developments paired with increasing urbanization. Also, emerging markets such as China and India have been offering incredible opportunities as they have an abundant amount of raw materials and a wide availability of cheap labor.
Key Players in the Market:
Major Key Players in the Asia Pacific Cereal Ingredients Industry are
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