NEWARK, Del, June 28, 2022 (GLOBE NEWSWIRE) -- The global breakfast cereal market is set to witness growth at a CAGR of 4.4% and is anticipated to reach a valuation of around US$ 65.1 Bn by 2032.
Cereals are a more suitable option for breakfast than traditional home-cooked breakfast, and they are also consumed as fillers and snacks between meals. Ready-to-eat cereals, such as muesli and cornflakes, are popular breakfast options in Europe and North America, owing to high demand for gluten-free products.
During the forecast period, sales of hot cereals are projected to gain traction. Growing popularity of nutritious breakfast options is driving the consumption of multi-grain cereals containing seeds, beans, and grains.
Rising awareness regarding health benefits of whole grain and organic cereals are driving demand for hot cereals. Furthermore, the incorporation of exotic flavors into products, resulting in novel tastes, is expected to boost demand.
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North America has the world's highest consumption of breakfast cereals, with high preference for both ready-to-eat and hot cereals. East Asia and South Asia are following suit, with international players establishing their distribution networks in countries such as India, Japan, and China.
“Surging demand for organic ingredients in packaged food products, along with the introduction of fortified cereals and health-benefit based cereals will create opportunities for growth in the market,” says an FMI analyst.
Key Takeaways:
- Based on nature, sales of conventional breakfast cereals are anticipated to account for around 86% of the total market share in 2022.
- The North American breakfast cereal market is anticipated to dominate the global market with a market share of around 27.9% in 2022, but East Asia is expected to witness a lucrative growth rate during the forecast period.
- On the basis of sales channels, modern trade is expected to hold a dominating share in 2022.
- Based on product type, ready-to-eat breakfast cereal is dominating the global market with a market share of more than 60% in 2022.
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Competitive Landscape
The top breakfast cereal manufacturers are likely to expand their market presence attributed to the increasing demand for convenient and healthy food products. In recent years, most consumers have focused heavily on minimizing their calorie intake by adopting top cereal brands and replacing the traditional breakfast choices with better and healthier breakfast cereal brands.
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Future Market Insights, in its new report, offers an impartial analysis of the global breakfast cereal market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on the nature (organic and conventional), by product type (ready-to-eat, hot cereals), by sale channel (modern trade, traditional grocery stores, convenience stores, specialty stores, online retail store, and others), across seven major regions of the world.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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