The report
“The US Bakery and Cereals Market: What Consumers Eat
and Why?” by Canadean
is now available at RnRMarketResearch.com. Contact sales@rnrmarketresearch.com with report name in subject line
and your contact details to purchase this report or get your questions
answered.
This
report provides the results for the Bakery and Cereals market in the US from
Canadean’s unique, highly detailed study of consumers’ Consumer Packaged Goods
(CPG) consumption habits, and forms part of an overall series covering all CPG
product markets. Its coverage includes, but is not limited to, consumption
behaviors, the extent to which consumer trends influence their consumption, the
value of the market these trends influence, and brand and private label choices
as well as retailer choices. Much of this information can also be analyzed by
specific consumer groups, providing hard and fast data on consumers and markets
at the product category level.
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Introduction
and Landscape
Why was
the report written?
Marketers
in the Bakery and Cereals market face a major challenge. Understanding market
size and segmentation is valuable, but the key to effective targeting is
knowing just how valuable specific consumer groups are, and being able to
quantify the impact of consumer trends. This data report solves these problems
by providing survey based data on consumer trends and consumer groups and
market data that show the exact the size of consumer groups, how much of the
Bakery and Cereals market they account for, and which consumer trends drive
their behavior.
What is
the current market landscape and what is changing?
As
consumer confidence increases proportionally to economic recovery, consumer
trends will be directly affected. Since the global financial crisis of
2008-2009 the retail market has been characterized by an increase in the amount
of discounted and own-brand products. Cereals and Bread products are considered
staple foods and therefore recession has not really affected their consumption
pattern. On the other hand, Bakery products such as Cakes and Cookies are not
considered essential items so consumption patterns have been comparatively
affected.
What are
the key drivers behind recent market changes?
Consumers’
uptake of products and the influence of consumer trends are fundamental causes
of change in markets – making knowing what these trends are and the extent of
their influence crucial. The survey-based data provided in this report examines
over 20 consumer trends that affect the market and examines the share of
Consumption across 26 consumer groups. This data provides a detailed insight
into exactly who the consumer is and just how much impact the latest consumer
trends are having.
What makes
this report unique and essential to read?
The data
provided is unique in the market as it tracks consumer behavior through to its
actual value impact on a product market. This provides readers with a unique
data analysis of the market, allowing marketing tactics and strategy to be
updated in line with the very latest consumer behaviors.
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Key
Features and Benefits
Consumer
data, based upon proprietary surveys and then consumer group tracking and
modeling for the following specific categories: Baking Ingredients, Baking
Mixes, Bread and Rolls, Cakes, Pastries and Sweet Pies, Cereal Bars, Cereals,
Cookies (Sweet Biscuits), Dough Products, Energy Bars, Morning Goods, and
Savory Biscuits.
Detailed
consumer segmentation covering over 26 consumer groups, 20 consumer trends, and
consumption frequency for each product category.
Consumer
penetration for brands and private labels, based upon the original survey and
then subsequent consumer tracking and modeling.
Unique
retailer choice data at the product category level, based upon the original
survey and then subsequent consumer tracking and modeling.
Key Market
Issues
The
proportion of consumers of Cereals in the US is fairly high for all age groups;
however, there is a peak for Tweens and Early Teens. This group covers an age
where children can begin to prepare their own basic snacks without parental
assistance. Although Cereal is usually eaten as a breakfast item it can also be
consumed as a snack and is simple enough to prepare. Consumers in older age
groups have access to alternative snack items. Marketers should use this
information to target their advertising towards increasing consumption rates in
Kids and Babies group as they do not have the most heavy rate users.
The
population of consumers participating in this survey from the US is split
fairly evenly between Male and Female. However, in both the Cookies (Sweet
Biscuits) and Savory Biscuits categories the Male to Female ratio differs significantly.
More Males consume Cookies and more Females consume Savory Biscuits. Marketers
can take advantage of this gender difference in their advertising campaigns for
these products.
Approximately
30% of the population in the US are heavy consumers of Morning Goods. This is
not surprising and reflects the breakfast habits of US consumers. This is a
mature market and it will be difficult for marketers to encourage consumers to
increase their consumption rates or extend the market to non-users without fully
appreciating the trends and influences behind their choices.
Key
Highlights
Not only
do a large proportion of the US consumers highlight that specific consumer
trends have an influence on their consumption, this translates into a
significant proportion of actual value being directly influenced as well.
Consumers are therefore acting on these trends enough to ensure that targeting
them, in the right categories, is essential to success.
The
majority of the retail share by value of the Bakery and Cereals market in the
US is dominated by just two retailers. The remainder of the market is
fragmented, which gives producers average bargaining power when dealing with
retailers.
Private
Label penetration in the Bakery and Cereals market in the US varies from a few
percent in the Baking Mixes market to well over a quarter of the Bread and Rolls
market. This indicates varying levels of consumer brand loyalty and national
brand domination. In some markets such as Savory Biscuits, however, there is
still room for Private Label growth.
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