Key Market Analysis to Bakery and Cereals in the UK register a CAGR of 10.0 % by 2020
Albany, New York, November 24, 2016: Market Research Hub has announced the addition of a latest Canadean report which focuses on the market of Bakery and Cereals in the U.K. The report is titled as “Consumer and Market Insights: Bakery and Cereals in the UK”. It analyzes the market data demographic consumption and key trends that are driving the network for these items. The report forecasts that, cereal bars would be the fastest growing value category and registering a CAGR of 10.0% during 2015-2020.
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The report analyses that, breakfast cereals have been criticized in the past because of their high sugar content. Now, consumers are preferring low sugar products which has made the market players well aware. Hence, they are providing best low sugar cereals and baked products. Key findings of the report involves that, private label products had high market entrance of 21.3% in 2015. They compete with brands, which further has resulted in a private label products gaining market share from brands during the period of 2012-2015. In the next section, the report covers eleven categories of the market such as:
- Baking Ingredients
- Baking Mixes
- Bread & Rolls
- Breakfast Cereals
- Pastries & Sweet Pies
- Dough Products
- Cereal Bars
- Energy Bars
- Savory Biscuits
- Morning Goods
The Bakery & Cereals market is dominated by two categories, Bread & Rolls and Cookies (sweet biscuits), which together constitute half of the total market by value. The study also highlights innovative new product development that effectively targets the most relevant consumer needs and offers strategic recommendations to capitalize on growing consumer behaviors.
In the report, Hypermarkets and supermarkets signify the largest distribution channel for bakery and cereals in the country. Bakery and cereals market in the UK accounted for nearly one-fifth of the inclusive food retail sales in 2014. In the previous years, volume sales for top cereal brands were upsurge by 1.67%. But the value has decrease by 3.4 %. The major trends that are driving the sales in the U.K. are time shortage and experiential marketing. Due to the hectic lifestyles of consumers, they look for products that are time-saving and convenient.
Leading retailers running in the U.K. food market are British Sugar Plc and General Mills, Inc. The data provided in the report is important for the leading players in the market, as it tracks customer behavior through to its genuine value impact on a product market. The readers will able to understand the data analysis of the market that allows marketing strategies to be updated in line with the latest consumer behaviors.
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