132 Sample_India Breakfast Cereal Market Outlook, 2022

India Breakfast Cereal Market Outlook, 2022 Page 1

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India Breakfast Cereal Market Outlook, 2022 Page 2

TABLE OF CONTENTS
1. Executive Summary
2. Global Breakfast Cereal Market Outlook
2.1. Market Size By Value
2.1.1. Overall Market
2.1.2. Ready-To-Eat (RTE) Breakfast Cereal Market
2.1.3. Hot Breakfast Cereal Market
2.2. Market Size By Region
2.2.1. North America Breakfast Cereal Market
2.2.2. Europe Breakfast Cereal Market
2.2.3. Asia-Pacific Breakfast Cereal Market
2.3. Market Share
2.3.1. By Company
2.3.2. By Region
2.3.3. By Category
2.3.4. By Sales Channel
3. India Breakfast Cereal Market Outlook
3.1. Market Size By Value
3.2. Market Share
3.2.1. By Company
3.2.2. By Region
3.2.3. By Category
3.2.4. By Product Type
4. India Ready-To-Eat (RTE) Breakfast Cereal Market Outlook
4.1. Market Size By Value
4.1.1. Overall Market
4.1.2. Cornflakes Market
4.1.3. Muesli Market
4.2. Market Share
4.2.1. By Product Type
4.2.2. By Age (Adult-Children)
5. India Hot Breakfast Cereal Market Outlook
5.1. Market Size By Value
India Breakfast Cereal Market Outlook, 2022 Page 3

5.1.1. Overall Market
5.1.2. Market Share By Product Type
5.2. Oats Market Outlook
5.2.1. Market Size By Value
5.2.2. Market Share
5.2.2.1. By Company
5.2.2.2. By Oat Mix (Plain/Savoury)
6. Product Price & Variant Analysis
7. India Economic Snapshot
8. Policy & Regulatory Landscape
9. Trade Dynamics
9.1. Import
9.2. Export
10. Channel Partner Analysis
11. India Breakfast Cereal Market Dynamics
11.1. Key Drivers
11.2. Key Challenges
12. Market Trends & Developments
12.1. Health and Convenience Going Hand-in Hand
12.2. Modern Retail Formats - A Good Marketing Platform
12.3. Growing Recognition of Oats as a Healthy Breakfast
12.4. Breakfast Cereals filling the gap created by Instant Noodles
12.5. Innovation in the form of Traditional and Fruit Flavored Products
13. Competitive Landscape
13.1. Porter's Five Forces
13.2. Company Profiles
13.2.1. Kellogg India Pvt. Ltd.
13.2.2. PepsiCo India Holdings Pvt. Ltd.
13.2.3. Bagrrys India Limited
13.2.4. Marico Limited
13.2.5. GlaxoSmithKline Consumer Healthcare Ltd.
13.2.6. Nestle India Limited
13.2.7. Patanjali Ayurved Limited
13.2.8. Mohan Meakin Limited
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13.2.9. Express Foods Pvt. Ltd.
13.2.10. Future Consumer Enterprise Ltd.
14. Strategic Recommendations
15. Disclaimer
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LIST OF FIGURES
Figure-1: Global Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-2: Global Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD Billion)
Figure-3: Global Ready-To-Eat Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-4: Global Ready-To-Eat Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD
Billion)
Figure-5: Global Hot Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-6: Global Hot Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD Billion)
Figure-7: North America Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-8: North America Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD Billion)
Figure-9: Europe Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-10: Europe Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD Billion)
Figure-11: Asia-Pacific Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
Figure-12: Asia-Pacific Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (USD Billion)
Figure-13: Global Breakfast Cereal Market Share – By Company 2016 & 2022F
Figure-14: Global Breakfast Cereal Market Share – By Region 2016 & 2022F
Figure-15: Global Breakfast Cereal Market Share – By Category 2016 & 2022F
Figure-16: Global Breakfast Cereal Market Share – By Sales Channel 2016 & 2022F
Figure-17: India Breakfast Cereal Market Size – By Value 2011-2016 (INR Crore)
Figure-18: India Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (INR Crore)
Figure-19: India Breakfast Cereal Market Share – By Company 2016 & 2022F
Figure-20: India Breakfast Cereal Market Share – By Region 2016 & 2022F
Figure-21: India Breakfast Cereal Market Share – By Category 2016 & 2022F
Figure-22: India Breakfast Cereal Market Share – By Product Type 2016 & 2022F
Figure-23: India Ready-To-Eat Breakfast Cereal Market Size – By Value 2011-2016 (INR Crore)
Figure-24: India Ready-To-Eat Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (INR
Crore)
Figure-25: India Cornflakes Market Size – By Value 2011-2022F (INR Crore)
Figure-26: India Muesli Market Size – By Value 2011-2022F (INR Crore)
Figure-27: India Ready-To-Eat Breakfast Cereal Market Share – By Product Type 2016 & 2022F
Figure-28: India Ready-To-Eat Breakfast Cereal Market Share – By Age 2016 & 2022F
Figure-29: India Hot Breakfast Cereal Market Size – By Value 2011-2016 (INR Crore)
Figure-30: India Hot Breakfast Cereal Market Size Forecast – By Value 2017F-2022F (INR Crore)
Figure-31: India Hot Breakfast Cereal Market Share – By Product Type 2016 & 2022F
Figure-32: India Oats Market Size – By Value 2011-2022F (INR Crore)
Figure-33: India Oats Market Share – By Company 2016 & 2022F
Figure-34: India Oats Market Share – By Oat Mix 2016 & 2022F
Figure-35: Distribution Channel followed by breakfast cereal manufacturers in India
Figure-36: Share of Different Sales Channel in India Breakfast Cereal Market - 2016 & 2022F
Figure-37: Porter's Five Forces Meter of Indian Breakfast Cereal Market
LIST OF TABLES
Table-1: Pricing Analysis of Various Cornflakes Brands in India 2016 (Price/500gram)
Table-2: Pricing Analysis of Various Oat Brands in India 2016 (Price/500gram)
Table-3: Pricing Analysis of Various Muesli Brands in India 2016 (Price/500gram)
India Breakfast Cereal Market Outlook, 2022 Page 6

Table-4: India Economic Profile – 2015
Table-5: Import Duty Structure for Cornflakes & Oats in India 2015-16
Table-6: Import of Cornflakes in India – Value & Volume 2010-11 to 2015-16
Table-7: Import of Oats in India – Value & Volume 2010-11 to 2015-16
Table-8: Countries exporting Cornflakes & Oats to India 2015-16
Table-9: Export of Cornflakes from India – Value & Volume 2010-11 to 2015-16
Table-10: Export of Oats from India – Value & Volume 2010-11 to 2015-16
Table-11: Countries Importing Cornflakes & Oats From India 2015-16
Table-12: Key Facts of Kellogg India Pvt. Ltd.
Table-13: Key Facts of PepsiCo India Holdings Pvt. Ltd.
Table-14: Key Facts of Bagrrys India Limited
Table-15: Key Facts of Marico Limited
Table-16: Key Facts of GlaxoSmithKline Consumer Healthcare Ltd.
Table-17: Key Facts of Nestle India Limited
Table-18: Key Facts of Patanjali Ayurved Limited
Table-19: Key Facts of Mohan Meakin Limited
Table-20: Key Facts of Express Foods Pvt. Ltd.
Table-21: Key Facts of Future Consumer Enterprise Ltd.
Note: Below figures are dummy, please purchase our report for precise information.
India Breakfast Cereal Market Outlook, 2022 Page 7

2. Global Breakfast Cereal Market Outlook
2.2. Market Size By Region
2.2.3. Asia-Pacific Breakfast Cereal Market
Asia pacific breakfast cereal market is growing with highest growth rate because of the
increasing health awareness and changing lifestyle of people. The market, which was USD
XXXX billion in the year 2011, grew with a CAGR of XXXX% over last five years and reached
USD XXXX billion in 2016. Increasing trend to adopt western dietary patterns in emerging
economies such as Indonesia, India and Malaysia is driving the growth in Asia Pacific market. In
Indonesia, a third of cereal consumers even prefer to have it as a snack, without any milk. On
the other hand, the breakfast cereal market in China is small as compared to that of the U.S.,
UK, France and Canada; however it is expanding swiftly from last few years.
Figure-11: Asia-Pacific Breakfast Cereal Market Size – By Value 2011-2016 (USD Billion)
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
2011 2012 2013 2014 2015 2016
Source: Bonafide Research
The expanding middle class in Asia-Pacific countries is the major consumer of western foods,
including breakfast cereals. In India and China, the middle class population is slated to rise to
1.2 billion by 2030, rising from 430 million in 2010, according to the World Bank. The high
disposable incomes of this group of population has led to strengthened purchasing powers and
easy shift to expensive packaged foods, which were once considered affordable only for the
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upper class population. As life pace tractions in these emerging countries, and the population
becomes more and more receptive towards innovative and relatively expensive food products,
the market for breakfast cereals will gain more traction in Asia-Pacific. The breakfast cereal
market in Asia Pacific is thus expected to reach USD XXXX billion by 2022, registering a CAGR
of XXXX% in the next five years.
Figure-12: Asia-Pacific Breakfast Cereal Market Size Forecast – By Value 2017F-2022F
(USD Billion)
5.00
4.00
3.00
2.00
1.00
0.00
2017F 2018F 2019F 2020F 2021F 2022F
Source: Bonafide Research
In Asia Pacific, breakfast cereal brands face tough competition from traditional food options. In
China, there is a traditional breakfast staple called 'Congee', whereas in India, people prefer to
consume bread and other flour-based foods for breakfast. However, multinational brands are
trying hard to change consumer habits as this would serve them with a huge potential customer
base. For instance, Kellogg’s launched cereals in mini packs to prompt the consumption and
impulse buying. Increasing numbers of convenience stores in India and China will also support
the growth of market.
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3. India Breakfast Cereal Market Outlook
3.2. Market Share
3.2.3. By Category
The breakfast cereal market in India is divided into two categories, hot cereals viz. oats, oat
bran, wheat bran, porridge, etc. and ready-to-eat (RTE) cereals viz. cornflakes (including chocoflakes),
wheat flakes, muesli, etc. In 2016, ready to eat cereals dominated the market with
XXX% value share whereas hot cereals stood at XXX% value share. Indian consumers prefer
hot breakfasts so hot cereals are growing at a much faster pace than ready to eat cold cereals.
Figure-21: India Breakfast Cereal Market Share – By Category 2016 & 2022F
2016
2022F
RTE Cereals
Hot Cereals
Source: Bonafide Research
Hot cereals are on the healthy side while majority of ready to eat cold cereals, including most
muesli have plenty of sugar and carbohydrates; they also lack in fibre and nutrients. Hence,
Indian consumers are now shifting from these products to other healthier options like oats. Oats,
the fastest growing segment of the Indian market and muesli which is next in growth are not
new products but have grown in popularity only in the past five to six years. Consumption of
oats is on the rise owing to the perceived health benefits. Manufacturers have also modified
oats to local tastes, offering oats-based traditional breakfast options. Hot cereal segment is
likely to capture XXX% of the market by 2022, owing to the growth of oats as a major category.
India Breakfast Cereal Market Outlook, 2022 Page 10

5. India Hot Breakfast Cereal Market Outlook
5.1. Market Size
5.1.1. Overall Market
Indians, with their liking for piping hot breakfast, found that cornflakes turn soggy the moment
warm milk was added. Manufacturers realized this mistake and started stepping into the hot
breakfast segment with their oats brand. Now, oats have access to more breakfast tables as it is
preferred with warm milk, just what Indians wanted. Other than oats; porridge, oat bran and
wheat bran also contribute to the hot cereals category. The hot breakfast cereals market, which
was just INR XXXX crore in 2011, reached to INR XXXX crore in the year 2016, registering a
robust CAGR of XXXX% over last five years.
Figure-29: India Hot Breakfast Cereal Market Size – By Value 2011-2016 (INR Crore)
200
150
100
50
0
2011 2012 2013 2014 2015 2016
Source: Bonafide Research
One reason for the growth in hot cereals category is the determined marketing efforts of the
various players. Kellogg’s is perhaps the most visible, thanks to its celebrity endorsements but
others are also ensuring their brands are seen and remembered, especially at the point of sale.
Saffola, for example, has gone national with its oats variants. Since it soft launched the masala
oats in South India, the marketing efforts including on-ground activations with local celebrity
chefs, festival-themed cooking shows, trial packs, in-store promotions were concentrated in that
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egion. Similarly, with its early-mover advantage, Quaker Oats had close to four years to
establish its presence before other big players stepped into the breakfast oats space. It did this
with traditional TV and print ads, as well as online. Not surprisingly, local players find it difficult
to match the marketing muscle of this big multinationals. Bagrry’s, for instance, does virtually no
advertising, instead it is focusing on improving its distribution network and is already available in
over 130 cities and towns across India, Nepal and Bhutan.
Figure-30: India Hot Breakfast Cereal Market Size Forecast – By Value 2017F-2022F
(INR Crore)
1000
800
600
400
200
0
2017F 2018F 2019F 2020F 2021F 2022F
Source: Bonafide Research
The earlier failure of Kellogg's to attract Indians to the breakfast table hasn't dampened the
spirits of other players such as PepsiCo India, Bagrry's India and Mohan Meakins, who are all
set to lay out a lavish spread in the hot breakfast cereals market. The category is set to heat up
with players such as Nestle preparing to increase their oat offerings over the course of time.
Manufacturers are tripping over each other to make hot cereal seem more nutritious,
convenient, and even fun. Different pack sizes and a brand promise of nourishment will seem to
be the main planks of marketing campaigns. Going forward, the market is anticipated to reach
INR XXXX crore by 2022, registering a CAGR of XXXX% in the next five years.
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13. Competitive Landscape
13.2. Company Profiles
13.2.2. PepsiCo India Holdings Pvt. Ltd.
PepsiCo Inc. is an American multinational food, snack and beverage corporation headquartered
in Purchase, New York, United States, with interests in the manufacturing, marketing, and
distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in
1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. PepsiCo has since
expanded from its namesake product Pepsi to a broader range of food and beverage brands,
the largest of which includes an acquisition of Tropicana in 1998 and of Quaker Oats in 2001,
which added the Gatorade brand to its portfolio.
PepsiCo products are consumed by consumers one billion times a day in more than 200
countries and territories around the world. PepsiCo has a food and beverage portfolio that
includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio
consists of 22 brands that generate high retail sales in the foods and beverages. PepsiCo
entered India in 1989 and in a short period, has grown into one of the largest MNC food and
beverage businesses in the country.
PepsiCo has been consistently investing in India, in the areas of product innovation, increasing
manufacturing capacity, ramping up market infrastructure, strengthening supply chain and
expanding company’s agriculture programme. The company has built an expansive beverage
and snack food business supported by 37 beverage plants and 3 food plants. In two decades,
the company has been able to organically grow eight brands each of which generate INR 1000
crore or more in estimated annual retail sales.
PepsiCo India’s portfolio includes brands like Pepsi, Lay’s, Kurkure, Tropicana, Gatorade and
Quaker. In addition to the recently launched Lay’s Maxx, 7UP Revive and Tropicana Slice
India Breakfast Cereal Market Outlook, 2022 Page 13

Alphonso, the portfolio includes several healthier treats like Quaker Oats, Tropicana juices,
rehydrator Gatorade, Tata Water plus, Quaker flavored oats and Quaker Nutri Upma and
Quaker Nutri Poha breakfast range with the power of wholegrain. PepsiCo India has established
a model of partnership with Indian farmers and now works with over 24,000 farmers across nine
states. More than 45 percent of these are small and marginal farmers with a land holding of one
acre or less. PepsiCo provides 360-degree support to the farmer through assured buy back of
their produce at pre-agreed prices, quality seeds, extension services, disease control packages,
bank loans, weather insurance, and the latest technological practices.
In the breakfast cereal market, it has brand Quaker which is more than 130 years old and is a
world leader in the oatmeal segment. Quaker Oats was launched in India in 2006. It has a
national presence and has a range of Quick Cooking Oats. Recently Quaker Oats launched 4
new sweet and savoury oats to its portfolio. Quaker Oats is a 100% wholegrain and natural
source of carbohydrates and dietary fibre. According to company, it has strong heart health
benefits, which is scientifically proven to help reduce cholesterol.
With the launch of the new range of flavors, Quaker Oat’s original wholegrain nutrition has now
the added benefit of great taste. With its real fruit & vegetable inclusions, this breakfast from
Quaker Oats comes at just INR10/- and promises to appeal to consumers across age groups.
All the four new flavors have healthy inclusions of real fruits and vegetables, topped in local
Indian flavors. While the Strawberry flavor with Apple has real apple pieces, the Kesar flavor
with Kishmish has real raisins.
Due to their strict manufacturing and quality standard protocols on global brands, raw materials
are sourced from a handful of suppliers only for brands like Quaker. Pepsico is not much of a
manufacturing company, especially for food because they have Frito Lays to take care of that
India Breakfast Cereal Market Outlook, 2022 Page 14

it. Most of the Pepsico workforce is absorbed in marketing, supply chain management, logistics
etc. A huge chunk of their manufacturing is outsourced to various vendors.
Table-13: Key Facts of PepsiCo India Holdings Pvt. Ltd.
Founded 1989
Parent Company
PepsiCo, Inc.
Fonder
Key People
Donald Kendall, Herman Lay
Mr. D. Shivakumar (Chairman)
Industry
Food and Beverage
3B, DLF Corporate Park,
Headquarters
‘S’ Block, Qutab Enclave,
Phase-III Gurgaon – 122002 Haryana, India
Sunder Baug Estate, Off, Sion-Trombay Road, MBPT
Other Manufacturing/
Colony, Best Colony, Chembur, Mumbai, Maharashtra
Distribution Centers
400088
Number of Employees 24000
Contact Number 0124-2880699, 0124-2355880 / 4998400
Web Address
www.pepsicoindia.co.in
Products
Beverages and food
Cheetos, Kurkure, Lay’s, Lehar Namkeen, Quaker Oats,
Brands
Uncle Chipps, 7UP, Aquafina, Duke's, Gatorade, Mirinda
Mountain Dew, Nimbooz, Pepsi, Slice, Tropicana
Breakfast Cereal Brand
Quaker
Revenue (2015-16)
INR 7216.6 Crore
Source: Company Website, Annual Report
India Breakfast Cereal Market Outlook, 2022 Page 15

15. Disclaimer
The contents of this report are based on information generally available to the public from
sources believed to be reliable. No representation is made that it is timely, accurate or
complete. Bonafide Research has taken due care and caution in compilation of data as this has
been obtained from various sources including which it considers reliable and first hand.
However, Bonafide Research does not guarantee the accuracy, adequacy or completeness of
any information and it is not responsible for any errors or omissions or for the results obtained
from the use of such information and especially states that it has no financial liability whatsoever
to the subscribers / users of this report. The information herein, together with all estimates and
forecasts, can change without notice.
All the figures provided in this document are indicative of relative market size and are strictly for
client’s internal consumption. Usage of the same for purpose other than internal will require prior
approval of Bonafide Research.
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