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Edible Flakes Market to hit valuation of $12 billion by 2033, says report
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Monday, 08 January, 2024, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The global edible flakes market is forecasted to reach a valuation of US$12 billion by the end of 2033, recording a CAGR of 7%, according to a study by Fact.MR, a market research and competitive intelligence provider.
The market is progressing rapidly and is an expanding segment of the worldwide food business. Edible flakes, which include cereal flakes, oat flakes, rice flakes, and corn flakes, have grown in popularity among customers of all ages due to their ease of use, nutritional value, and diversity. Dietary changes such as rising veganism, vegetarianism, and gluten-free diets are driving the demand for edible flakes. Manufacturers are continuing to develop food items that cater to these specific dietary habits to capture a larger client base.
Diversification, innovation, and sustainability efforts in the market are projected to continue impacting its progress. The edible flakes market is positioned for additional expansion and innovation in the years ahead as consumer preferences vary and global health trends continue to emphasise the need for a balanced diet.
Key Takeaways from Market Study
• The global market for edible flakes is estimated at US$6.1 billion by 2023.
• Worldwide sales of edible flakes are predicted to rise at a 7% CAGR between 2023 and 2033.
• The market is projected to be valued at US$12 billion by the end of 2033.
• Europe, Asia Pacific and North America are the top three regions in the global market for edible flakes.
• Europe accounts for roughly 33% of global sales of edible flakes.
• The cornflakes segment accounted for 39% of the market share in 2022.
"In the dynamic landscape of the edible flakes market, consumer preferences and innovation are the driving forces behind its growth. As the market evolves, companies are prioritising innovation and sustainability to retain their competitive edge. Manufacturers are increasingly using sustainable packaging materials and sourcing ingredients locally to lessen their environmental imprint,” says a Fact.MR analyst.
Rising Awareness about Clean Eating Fueling Demand for Edible Flakes
Consumers today are more aware of nutrition and the importance of making healthy food choices. Edible flakes are considered a healthy and balanced breakfast alternative as they are produced from whole grains, oats, and other nutritious ingredients.
Consumers are perusing food labels more closely as they seek low sugar, low salt, and high fibre options. Brands that can align their offers with these health and wellness trends by providing goods with less sugar, whole ingredients, and natural additives are more likely to see increased sales.
When compared to sugary cereals, edible flakes, particularly those derived from whole grains, oats, or other healthy ingredients, are seen as a healthier breakfast option. They mostly contain fibre, vitamins, and minerals, making them appealing to health-conscious customers. Gluten-free, organic, and non-GMO edible flakes are also in high demand, reflecting the desire of consumers for cleaner, more transparent food options.
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