The cereal market in Taiwan is seeing a significant growth in past few years. With increasingly hectic lifestyle, poor diet and expanding awareness about health, people are moving towards more healthy and light breakfast. In addition, in Taiwan, a large proportion of population lives away from home and hence indulges in eating outside most of the times. Cereals provide them an easy alternative so that people can include more healthy ingredients into their diet and replace unhealthy food with this light and healthier option.
According to the market research report “Breakfast Cereals in Taiwan“, big players in this market include Kellogg, Weetabix and PepsiCo. In addition, they are targeting various age groups by providing different products for each age group. For example, breakfast cereals offered for elderly contains more fibres while those offered for young ones contains more vitamins and calcium. Apart from being a healthy food alternative, breakfast cereals are easy to prepare and hence save a lot of time in busy mornings for working professionals. Sugar-free products are also being offered to people suffering from diabetes or who are health conscious and would like to avoid any sugar intake. All these factors combined are helping the breakfast cereal industry in Taiwan to grow significantly.
The cereal market can be segmented into hot cereals, which are prepared with hot milk or water, and ready-to-eat (RTE) cereals. The RTE segment leads the market as adults and children alike like these and they can be easily prepared and eat in busy mornings, a time when most working professionals miss their meal because of time constraints. Cereal Partners Worldwide, a joint venture between General Mills and Nestle, is the leading player in the market, followed by Standard Food Corporation, PepsiCo and Kellogg. Retails stores lead the distribution chain of the cereal market in Taiwan.
A rapidly expanding middle class, which loves to embrace the western lifestyle, busy lifestyle and increasing awareness about eating healthy for a healthy lifestyle, are the factors, which are boosting the growth in Taiwanese breakfast cereal market. The market is expected to grow further and hence it is becoming a lucrative market for the market players.
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