Breakfast Cereals Market Size And Forecast
Breakfast Cereals Market was valued at USD 39.19 Billion in 2020 and is projected to reach USD 51.19 Billion by 2028, growing at a CAGR of 3.38 % from 2021 to 2028.
The Global Breakfast Cereals Market has witnessed strong growth owing to the increase in the demand for ready-to-eat food for breakfast. Moreover, advancing food retail infrastructure simultaneously with rising awareness about the health benefits of consuming grain-based breakfasts is further boosting the growth of the market. The Global Breakfast Cereals Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Breakfast Cereals Market Definition
Breakfast cereals are food principally prepared from grains or multiple grains such as corn, oats, wheat, and others that are consumed as the first meal of the day. The breakfast cereals can be eaten with milk and fresh fruits and it provides a healthy breakfast option for people of all age groups. These cereals are made utilizing whole grains without added sugar is proven to be a healthy and nutritive breakfast. Breakfast cereals comprise proteins, carbohydrates, vitamins, and dietary fibers which are useful to the health of consumers. Several breakfast portions of cereal are produced via extrusion. Remarkable companies promote their products for the health advantages that originate from eating oat-based and high-fiber cereals. Porridges, made up of barley, are a significant breakfast meal, which is now superseded by fiber-rich cereals. Breakfast cereals are significant contributors to nutrient eating in the United States and other developed nations where fortification is allowed and consumption is vital.
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Global Breakfast Cereals Market Overview
The global Breakfast Cereals Market is principally driven by an increase in the demand for ready-to-eat food for breakfast. The trend of the adoption of breakfast cereals among people is increasing is across the globe. Whole grain cereals also highlight a modern trend, holding a positive impression on the market growth. A huge number of innovative and flavored options in breakfast cereals are also expected to accelerate the market growth, especially in developing markets. Moreover, advancing food retail infrastructure simultaneously with rising awareness about the health benefits of consuming grain-based breakfasts is further boosting the growth of the market. Furthermore, changing food habits, raising the disposable income of individuals in emerging economies, and increasing awareness concerning the importance of healthy breakfast among individuals are some other important factors that stir up the market growth.
However, loss of nutritional content in breakfast cereals might inhibit the market growth. Further, companies have to face various issues related to raw material procurement. This is anticipated to continue over the forecast period, acting as a significant challenge to the market growth. Notwithstanding a growing number of convenience stores in emerging economies, increasing commodity and energy prices will continue long-term restraints. Gluten content in cereals is being constantly scrutinized by consumers as well as governments, compelling manufacturers to improve their gluten-free product range. Nevertheless, rising urbanization and the increasing disposable income of consumers are expected to offer lucrative opportunities for the market during the forecast period.
Global Breakfast Cereals Market: Segmentation Analysis
The Global Breakfast Cereals Market Segmented on the basis of Type, Product Type, Distribution Channel And Geography.
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Breakfast Cereals Market, By Type
• Hot Cereals
• Ready-to-eat Cereals
Based on Type, the market is bifurcated into Hot Cereals and Ready-to-eat Cereals. The Hot Cereals segment is estimated to witness the highest CAGR for the forecast period. The growth of the segment is attributed to increasing adoption of nutritious meal options in breakfast, as it is spurring the demand for multi-grain cereals including grains, seeds, and beans. Incorporation of extrinsic flavors into the product variants, ending in innovative tastes, is expected to rev up the demand, particularly among kids.
Breakfast Cereals Market, By Product Type
• Corn-based Breakfast Cereals
• Mixed/Blended Breakfast Cereals
Based on Product Type, the market is bifurcated into Corn-based Breakfast Cereals, Mixed/Blended Breakfast Cereals, and Others. The Mixed/Blended Breakfast Cereals segment is estimated to witness the highest CAGR for the forecast period. The growth of the segment is attributed to increasing preference by consumer for this type of food.
Breakfast Cereals Market, By Distribution Channel
• Convenience Stores
Based on Distribution Channel, the market is bifurcated into Supermarket, Convenience Stores, E-Commerce, and Others. The E-Commerce segment is estimated to witness the highest CAGR for the forecast period. The growth of the segment is attributed to increasing adoption of smartphones and the internet across the globe. In addition to this, online platforms offer unique advantages such as hassle-free delivery, attractive discounts, and more excellent option to people, which will improve the market growth of the e-commerce segment.
Breakfast Cereals Market, By Geography
• North America
• Asia Pacific
• Rest of the world.
Based on regional analysis, the Global Breakfast Cereals Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The growth of the region is attributed to change in breakfast cereals consumption patterns and inclination towards healthier products. Also, augmented adoption of the western lifestyle has paired the driving factors of the market sales.
Key Players In Breakfast Cereals Market
The “Global Breakfast Cereals Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Marico Limited, B&G Foods Inc., Bobs Red Mill Natural Foods Inc., Bagrrys India Ltd., Alara Whole Foods Ltd., Kellogg Company, General Mills, Inc., Nestlé S.A., Pepsico, Inc., and Attune Foods LLC.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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