Consumers Will Pay More For Higher Quality Breakfast Products The latest research from Mintel on the breakfast food market in the US shows:
Consumers WWill Pay More For Higher Quality Breakfast Products According to latest research from Mintel on the breakfast food market in the U.S., the majority (69 percent) of respondents who eat any breakfast foods during the week consider low cholesterol or heart healthy claims important when selecting food they typically eat for breakfast. Additionally, around the same number (65 percent) think low-fat and high-fiber are significant health-related attributes when selecting breakfast foods.
The majority (57 percent) of respondents who eat any breakfast foods during the week would be willing to spend more on better quality prepackaged breakfast foods, shows Mintel’s consumer research. Furthermore, 41 percent would like to see more organic prepackaged breakfast products.
Overall, the breakfast foods category has experienced solid growth during the recession, with a 20 percent increase in dollar sales from 2007 to 2011, going from $10 billion in 2007 to $12 billion in 2011. Furthermore the market is forecast to continue to grow by nearly 26 percent from 2012 to 2017 to reach a predicted $15.7 billion. Consumers Will Pay More For Higher Quality Breakfast Products
Carla Dobre-Chastain, food analyst at Mintel, said, in a prepared statement, “Eating at home to save money and the convenience of many products in the breakfast category likely aided in its impressive sales growth. While price will continue to play an important role when it comes to breakfast foods, Mintel’s research shows that consumers are willing to pay more for higher-quality breakfast products. Therefore, manufacturers and retailers need to strike a balance between price and quality in order to stay at the top of the market.”
Despite 45 percent of respondents enjoying pancakes for breakfast, 40 percent frozen waffles and 33 percent packaged sausages, it is in this traditional breakfast food category where consumer demand for healthy claims is highest.
- Consumers consider low cholesterol or heart healthy claims important
- Consumers think low-fat and high-fiber attributes are important when choosing products
- Consumers are willing to spend more on better quality pre-packaged breakfast foods
The breakfast foods category has experienced solid growth during the recession and is forecast to continue to grow by 26% through 2017. You are on the Vending Business show for more blogs Gym Vending Machine