Description
The Breakfast Cereals Market was valued at USD 61.67 billion in 2023 and is estimated to increase at a CAGR of 6.1% from 2023 to 2030, reaching USD 93.34 billion by 2030.
Market Overview
Breakfast cereal is a breakfast food made from processed cereal grains. It is traditionally eaten as part of breakfast, or a snack food. They can be served with milk, or yogurt, or eaten dry as a convenient snack.
Breakfast cereal refers to a food product typically consumed in the morning as a breakfast option. There are two types’ hot cereal and ready-to-eat cereal. Ready-to-eat means flaked, made from corn, wheat, or rice cooked with flavors. Cereals keep the body healthy and provide a satisfying and energy-boosting meal. Many cereals contain nutrients such as fiber, vitamins, and minerals, appealing to health-conscious consumers seeking balanced and nutritious breakfast choices.
Changing lifestyles, evolving dietary patterns and the increasing pace of modern life have led to a growing demand for convenient, healthier, and quick breakfast options. The Breakfast cereal market holds significant importance and serves as a convenient and accessible breakfast option for individuals with busy schedules, providing a quick and nutritious meal to start the day.
Companies continuously introduce new flavors, ingredients, and packaging designs to attract consumers and stay competitive in the market. This innovation contributes to consumer excitement and engagement, driving further demand and market growth.
COVID-19 lockdowns and restrictions caused transportation slowdowns and labor shortages, making it difficult to get raw materials like wheat and sugar to cereal manufacturers. Due to the limited supply of cereals, prices were increased in order to sustain profit margins, resulting in breakfast cereals becoming less accessible to consumers.
Global Breakfast Cereals Market: Growth Drivers
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Expansion of higher nutritional content:
Because it is less calorie-dense while having more nutritional value, people are now demanding better food which means that producers are supplying cereals having lower calories with higher nutrients; such options include those containing additional fibers, proteins, and whole grains that help keep one feeling fuller for extended periods.
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Busy Lifestyles and Convenience:
Young working professionals and families are increasingly opting for convenient breakfast options. Breakfast cereals are quick and easy to prepare, making them a perfect fit for busy mornings.
Global Breakfast Cereals Market: Restraining Factors
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A rise in prices may hamper the breakfast cereals industry:
Breakfast cereal prices may increase as a result of growing expenses for shipping and raw materials. This may drive away some customers from the market.
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Sugar Content and Health Concerns:
Some breakfast cereals are high in sugar and calories, which can be a concern for health-conscious consumers. Manufacturers are reformulating their products to reduce sugar content and offer healthier options.
Global Breakfast Cereals Market: Opportunity Factors
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Emerging Markets:
Breakfast cereal consumption is growing in developing countries as disposable incomes rise and urbanization increases. Manufacturers can target these markets with affordable and convenient breakfast cereal options.
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Health and wellness focus:
Breakfasts that are high in nutrients and wellness are becoming more and more popular. This allows cereal manufacturers to create whole-grain, low-sugar, high-protein, and high-fiber cereals. Additionally, they may accommodate certain dietary requirements like vegan, nut-free, or gluten-free alternatives.
Global Breakfast Cereals Market: Challenges
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Increased competition:
Breakfast cereals are up against a wider range of breakfast choices than ever before. Smoothies, yogurt parfaits, breakfast burritos, and even leftover dinner are all competing for a spot on the breakfast table.
Global Breakfast Cereals Market: Segmentation
Based On Product Type: The market is segmented into hot cereal, RTE (ready-to-eat) cereals. RTE cereals segment is anticipated to hold the major market share in the global breakfast cereal market, owing to increasing demand for ready meals.
Based On Distribution Channel: The market is divided into S Supermarkets & Hypermarkets, Convenience Stores, and E-commerce. The supermarkets/hypermarkets segment presently holds the major market share in the global breakfast cereal market because of the high dependency of people.
Based On Region: Based on Region, the market is segmented into five key geographical regions namely – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Breakfast Cereals Market: Regional Insights
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North America
North America is expected to hold the largest market share for breakfast cereal on a global scale. This is because more and more Americans are worried about their health; which in turn affects what they prefer to eat as part of a balanced diet. Commonly chosen in such areas as convenient or fast food restaurants where people may not have time to sit down at home before work, breakfast cereals are also very popular with customers concerned about staying healthy.
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Asia Pacific
Asia Pacific is also the fastest-growing region. The region of Asia Pacific is experiencing rapid growth in the breakfast cereals market due to factors such as urbanization, dietary changes, and rising incomes. Countries like China, India, Japan, and South Korea are showing a preference for Western-style breakfasts, including cereals, as they look for convenient meal options.
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Europe
In Europe, the market is competitive, with multinational companies and local brands competing for market dominance. European consumers are demanding products that are convenient, tasty, and offer health benefits, leading to innovation in product development and packaging. Additionally, there’s a growing emphasis on sustainability and ethical sourcing in the European breakfast cereals market, with consumers showing a preference for products that are environmentally friendly and socially responsible.
Global Breakfast Cereals Market: Competitive Analysis
Avena Foods Limited, Bob’s Red Mill Natural Foods, Campbell Soup Company, General Mills Inc. Gluten-Free Prairie, Hometown Food Company, Kellogg Company, Marico Ltd, Nature’s Path Foods, Nestle SA, and The Quaker Oats Company.
Global Breakfast Cereals Market: Recent Developments
- Campbell: February 15, 2023 –Kettle Brand, the pioneer and one of the leaders in premium kettle-cooked chips, is unveiling the first kettle-cooked, air-fried potato chip. With the same big, bold flavor that you expect from Kettle Brand, the newest Kettle Brand Air Fried Chips are available in consumers’ favorite flavors: Sea Salt & Vinegar, Jalapeno, and Himalayan Salt.
- General Mills Inc: April 15, 2024 – Wheaties pushes the limits of breakfast with new Wheaties protein.
