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Rising Demand for Vegan Options Propels Growth in the Global Edible Flakes Market

Edible Flakes Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Edible Flakes Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The edible flakes market is expected to reach $29.38 billion in 2027 at a CAGR of 7.8%.”

— The Business Research Company

LANDON, GREATER LANDON, UK, October 20, 2023 /EINPresswire.com/ — The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032.

Diverse Offerings and Distribution Channels Drive Edible Flakes Market Growth

Edible flakes, popular breakfast cereals or snack ingredients, encompass a variety of grain-based products like wheat, rice, oats, and corn. These versatile flakes serve as a wholesome and convenient meal option, often accompanied by milk, yogurt, or fruit, catering to the demands of the modern consumer for quick, nutritious, and delightful mornings.

Current Market Landscape and Projections

The global edible flakes market, valued at $20 billion in 2022, is expected to reach $21.79 billion in 2023, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 9%. Despite global economic recovery challenges stemming from the Russia-Ukraine conflict and the subsequent economic sanctions on various countries, the market is anticipated to achieve $29.38 billion by 2027, indicating a CAGR of 7.8%.

Vegan Consumer Base as a Catalyst for Market Expansion

The escalating number of vegan consumers globally has emerged as a key driver for the thriving edible flakes market. With an increasing preference for plant-based food choices, edible flakes have garnered significant attention among vegan communities due to their natural origins and their ability to enhance the taste and texture of various dishes. As reported by Truly Experiences Ltd., the UK witnessed a 40% surge, amounting to 445,428 new vegans in 2022, underlining the substantial influence of this demographic on the growth trajectory of the edible flakes market.

For a comprehensive analysis, view a sample report here:

Innovative Product Offerings and Strategic Collaborations

Market players are actively engaged in product innovation to maintain their competitive edge. Notably, Darrell Lea Confectionery Co. introduced the unique Crunchy Nut Corn Flakes chocolate block, combining the sweetness of their milk chocolate with the crunchiness and nuttiness of Kellogg’s Crunchy Nut Corn Flakes and added peanuts, offering consumers a delightful fusion of flavors. Moreover, the partnership between The Kellogg Company and The Hershey Company aims to combine the appeal of Hershey’s premium chocolate flavor with the satisfying crunch of Kellogg’s Chocos, targeting an extensive customer base through multiple distribution channels and retail outlets.

Regional Insights

While North America dominated the edible flakes market in 2022, the Asia-Pacific region is expected to exhibit the fastest growth during the forecast period, emphasizing the evolving consumer preferences and the increasing adoption of convenience foods across diverse demographics.

Edible Flakes Market Segments:

1. Product Varieties: Wheat Flakes, Rice Flakes, Flakey Oats, Corn Flakes, Other Products
2. Nature Differentiation: Organic, Conventional
3. Diverse Distribution Channels: Hypermarkets Or Supermarkets, Online Retailers, Specialty Stores

To access the full report, click here:

Edible Flakes Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Edible Flakes Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on edible flakes market size, edible flakes market drivers and trends, edible flakes market major players, competitors’ revenues, edible flakes market positioning, and edible flakes market growth across geographies. The edible flakes market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Rice Seeds Global Market Report 2023

Flour, Rice And Malt Global Market Report 2023

Grain Products Global Market Report 2023

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

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Food and Beverages Market Growth Forecast 2023-2027

Article originally published on www.einpresswire.com as Rising Demand for Vegan Options Propels Growth in the Global Edible Flakes Market

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