Historical Trends and Development of the breakfast cereal market

12998 WordsNov 25, 201352 Pages
1. Executive Summary Breakfast cereals are an important part of the British diet and a key sector of the grocery market in the UK, with over 90% household penetration. In 2000, 414,000 tonnes of breakfast cereals were sold in the UK, at a retail value of £1.1bn The breakfast cereals market is made up of two main sectors, firstly, the ready-to-eat sector, which consists of staples including corn flakes and wheat. Secondly, the hot cereals sector, which consists of cereals that require some kind of preparation, such as porridge, which, will be the main focal product for Outside The Box (OTB) cereals at the start of its operation. Since the mid-nineties, consumption of breakfast cereals has shown steady growth, although in 2008, the UK…show more content…
This is an opportunity for our company as UK consumers are the biggest spenders on breakfast cereals in Europe being ahead of countries like France, Spain, Italy and Germany (Mintel Global Market Navigator, GMN, 2011). The strategic role of Outside the Box cereals will be centered on 3 main objectives: To stay at the forefront as the market leader of innovative and healthy cereals, offering different varieties through successful product launches. To strengthen and satisfy the needs of the on the go consumer through the convenience approach of the FRH technology. To become a market leader in the functional and convenience segment of cereals with increased market shares. 3. Vision and Mission The vision and mission of Outside the Box is to be the healthy breakfast cereal of choice. The mission is therefore, to provide Britain with the finest healthy cereal range, by satisfying the needs of the on the go consumer, through innovation and creativity. 4. Market Analysis A market analysis was compiled to find out if there is a demand for OTB’s product and also who within the market, the organisation are catering for. Market size: In 2010, the hot cereals sector recorded its highest annual value growth in at least four years with a 12.2% jump to £152 million . This indicated to OTB’s management that there is potential and a huge demand for hot breakfast cereals in the market,

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