The Edible Flakes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Edible Flakes Global Market Report 2024, The edible flakes market size has grown strongly in recent years. It will grow from $21.79 billion in 2023 to $23.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to changing consumer dietary preferences, globalization of food markets, increased awareness of health and wellness, growth in convenience food consumption, rising disposable incomes.
The edible flakes market size is expected to see strong growth in the next few years. It will grow to $31.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing demand for functional foods, expansion of the health and wellness industry, increasing population and urbanization, rising demand for natural and organic products, globalization of food supply chains. Major trends in the forecast period include increasing use of sustainable and eco-friendly packaging, rise in plant-based and alternative protein products, customization of edible flakes for dietary preferences, emphasis on clean label and transparency, adoption of smart manufacturing technologies in the production process.
The growing number of vegan consumers is expected to propel the growth of the edible flakes market going forward. Vegan consumers are individuals who adhere to a vegan lifestyle and dietary choices. Edible flakes can be a helpful food option for vegan consumers due to their plant-based nature and as a decorative and flavorful addition to their food. For instance, in March 2023, according to a report published by Truly Experiences Ltd., a UK-based private limited company, the number of vegans in the UK climbed by 445,428 in 2022, a 40% rise from 2021. Therefore, the growing number of vegan consumers is driving the growth of the edible flakes market.
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The edible flakes market covered in this report is segmented –
1) By Product: Wheat Flakes, Rice Flakes, Flakey Oats, Corn Flakes, Other Products
2) By Nature: Organic, Conventional
3) By Distribution Channel: Hypermarkets Or Supermarkets, Online Retailers, Specialty Stores
Product innovation is a key trend gaining popularity in the edible flakes market. Major companies operating in the edible flakes market are developing new products to sustain their position in the market. For instance, in July 2023, Darrell Lea Confectionery Co., an Australia-based confectionery manufacturing company, launched the Crunchy Nut Corn Flakes chocolate block. The Crunchy Nut Corn Flakes chocolate block combines the creamy milk chocolate from Darrell Lea with Kellogg’s Crunchy Nut Corn Flakes and added peanuts. This combination offers a unique blend of flavors, combining the sweetness of chocolate with the crunchiness and nuttiness of cornflakes and peanuts.
The edible flakes market report table of contents includes:
1. Executive Summary
2. Edible Flakes Market Characteristics
3. Edible Flakes Market Trends And Strategies
4. Edible Flakes Market Size And Growth
5. Edible Flakes Segmentation
….
26. Edible Flakes Regional And Country Analysis
27. Edible Flakes Competitive Landscape And Company Profiles
28. Edible Flakes Key Mergers And Acquisitions
29. Edible Flakes Future Outlook and Potential Analysis
30. Appendix
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