There’s less love these days for Tony the Tiger, Cap’n Crunch and Lucky the Leprechaun.
U.S. sales of breakfast cereals have turned as flat as soggy corn flakes amid heightened concerns among consumers about cereal’s nutrition and lack of convenience.
Sales of cold and hot cereals combined are expected to total $10.6 billion this year, down 17% from $12.7 billion in 2009, the research firm IBISWorld estimates. The firm also sees sales hardly budging for the next few years and totaling $10.4 billion in 2020.
“The cereal category has undoubtedly had a challenging few years,” said Craig Bahner, president of U.S. morning foods at Kellogg...