$70 million disruption to US cereal sales
In 2014, $300 million was wiped off breakfast cereal sales in the US. But this money didn’t disappear. Instead, $70 million of it was diverted to increase the sales of one of the biggest disruptive innovations in the breakfast category, Belvita breakfast biscuits. The rest went to a host of high-growth challenger brands.
“Breakfast has become one of the most fought-over battlegrounds in food and health, a battle fuelled by consumers’ need for easy and quick meals in the morning – and by two massively successful disruptive innovations, Belvita’s breakfast biscuit and Up & Go’s liquid breakfast”
Julian Mellentin, New Nutrition Business
Around the world from Asia to America, breakfast is being “snackified” as time-pressed consumers are turning away from the breakfast table and towards an on-the-go breakfast – or even skipping the first meal of the day altogether.
In Asia, for example, 66% of professional workers ate breakfast away from home three or more times in a two-week period, and 20% consumed breakfast away from home every single day. A study of 500 young Americans found that 27% skipped breakfast, and of those who did not, 25% ate breakfast away from home.
These changing habits mean a wealth of new opportunities for companies in every food category.
The big successes so far show that any company with ambitions in breakfast should not rule out any new product idea because it is too unfamiliar to consumers or too innovative.
Source: New Nutrition Business