Ready-to-eat breakfast cereal is becoming more adventurous. During the second half of 2022, several compelling new RTE arrivals hit grocery shelves—some based on co-branded efforts between cereal makers and consumer packaged goods companies outside the category.
Three innovations include Kellogg’s Cinnabon Bakery Inspired Cereal, IHOP Mini Pancake Cereal (done in collaboration with General Mills) and Stuffed Puffs Big Bites Cinnamon Toast Crunch Filled Marshmallows.
For a 4-week period ending Dec. 4, 2022, ready-to-eat cereal ($731.9 million market value) was up 15.4% for dollars but lost 0.3% in units, according to data from Chicago-based IRI Global. The top three branded suppliers include General Mills Inc. ($248.2 million value), Kellogg Co. ($194.2 million) and Post ($133.6 million).
Likely based on the high price of branded RTE cereals, private label was able to show its muscle, ranking fourth in sales ($49.8 million) and was at the top of the list of RTE cereal SKUs in the grocery channel, flashing a 4-week dollar growth rate of 33.5%. General Mills’ Honey Nut Cheerios ($42.3 million) represented the top branded SKU in the category.
Read ahead for a description of five recent RTE cereal releases ...