Breakfast cereals are the rising star of the Japanese bakery and cereal sector as more consumers are replacing their traditional breakfast with breakfast cereal, according to new data from market researcher Canadean. The sector showed a value and volume compound annual growth rate (CAGRs) of 2.8% and 2.2% respectively, between 2012 and 2017.
Although this will be one of the slowest-growing sectors in the Japanese food industry with growth rates less than half of the fastest-growing sector, breakfast cereals are expected to grow ahead of the sector at a value and volume CAGRs of 4.4% and 3.9% respectively, between 2012 and 2017.
Comparatively, soup, bread and rolls had the majority share of the sector in 2012 with value and volume shares of 33.4% and 38.6% respectively, but the established market will show a value CAGR of 2.9% and volume CAGR of only 2.3% to 2017.
Hypermarkets and supermarkets have quickly gained share of the Japanese bakery and cereals sector over the past few years with department stores also showing a reasonable increase in share. This comes at the expense of food and drink specialists and more traditional stores, both having lost share for the same period.
