Despite some struggles in recent years, the $12 billion ready-to-eat breakfast cereal market is poised for a return to growth, according to a report from Packaged Facts, a division of MarketResearch.com. The breakfast cereal market is expected to experience cumulative growth of 10% during the 2014-18 forecast period and will reach $13 billion in 2018, Packaged Facts said.
Latinos may help lead the turnaround. David Sprinkle, research director for Packaged Facts, said cereal marketers will benefit from the increasing demographic clout of Latino consumers.
Although the population of children as a whole is expected to decline in the coming years, Packaged Facts noted there will be a “substantial growth” in the population of Latinos under the age of 14. READ MORE
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