"Breakfast Cereals in Iran" Published

From: Fast Market Research, Inc.
Published: Sun Dec 27 2015

The key event in 2014 was the removal of the import ban, which happened during the last months of the year. After the sudden devaluation of the national currency compared with the US dollar in 2012, the Iranian government put cereals on the luxury items list, so they could not be imported to the country. This meant that key multinationals such as Kellogg and Nestlé, which were leading the category, could not import to the country, which gave a good chance for growth to domestic suppliers. However, during the last months of 2014 the ban was removed, and Nestlé was the first multinational to start re-importing its products; it is expected to be followed by other multinationals. It is important to note that the relaunch of multinational brands happened only in the last months of 2014, and its impact on both the category size and company shares can be expected only in 2015. However, due to the low base of breakfast cereals, in 2014 retail volume growth of 17% is expected over the previous year, which is higher than the 15% CAGR seen in the review period, and demonstrates steady growth.

Full Report Details at
- http://www.fastmr.com/prod/1098081_breakfast_cereals_iran.aspx?afid=301

Competitive Landscape

The competitive environment in breakfast cereals is expected to remain similar in 2014 to 2013. No multinational brand could be imported until the last months of 2014, when the import ban was finally removed and the category saw the relaunch of Nestlé products such as Nesquik, Fitness and Corn Flakes.

Industry Prospects

The currently small breakfast cereals category has good potential for growth in the next five years. Iran has a relatively young consumer base which is very eager to imitate Western lifestyles, and eating breakfast cereals is considered typical behaviour. However, accessibility to these products will remain a key factor that will hamper growth. During 2013 and most of 2014, many key suppliers, such as Kellogg and Nestlé, faced a complete importation ban, which affected the growth of the category. However, although this ban was removed during the last months of 2014, it is very likely that in the case of any political or economic turmoil within the country, due to the devaluation of the currency over the coming years, that Kellogg and Nestlé may once again face similar a ban on imports.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Breakfast cereals industry in Iran with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Breakfast cereals industry in Iran, our research will save you time and money while empowering you to make informed, profitable decisions.

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