In its 2007 Breakfast Cereal & Cereal Bar market report, Ken Wood, CEO of the Weetabix Food Company, concedes driving category growth in mature markets, such as cereals, is a challenge.
However, Wood points out the total cereal and bar market is showing growth of 8%.
“This growth has been achieved by strong support behind major brands and very successful new product innovations. The Weetabix Food Company alone has contributed nearly one third of the total value growth of the market in the last year.”
Wood cites his company’s Oatibix and Oatibix Bitesize as star launches in the market, tapping into the popularity of oats. For the core brand, meanhwhile, an advertising campaign encouraged consumers to eat Weetabix in different ways.
2007 £118.3m
2006 £120.3m
yoy change -1.6%
