Portland, OR, Nov. 11, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global breakfast cereals market was estimated at $90.9 billion in 2020 and is expected to hit $180.3 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in number of health conscious consumers, increase in disposable income among individuals, and growing consumer demand for convenience food drive the growth of the global breakfast cereals market. On the other hand, availability of counterfeit products and potential threat of substitution impede the growth to some extent. However, rapid growth of online retail platform is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic has made consumers concerned about their overall health and wellness, and are now seeking for healthy food & beverages, including healthy breakfast cereals to keep themselves healthy. This has impacted the global breakfast cereals market positively.
- This trend is quite likely to continue post pandemic as well.
The global breakfast cereals market is analyzed across product type, nature, distribution channel, and region.
Based on product type, the ready-to-eat segment accounted for nearly three-fifths of the total market share in 2020, and is projected to rule the roost by the end of 2030. The hot cereals segment, on the other hand, would cite the fastest CAGR of 7.6% throughout the forecast period.
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Based on nature, the conventional segment contributed to 87% of the total market revenue in 2020, and is expected to lead the trail by 2030. The organic segment, however, would grow at the fastest CAGR of 8.6% from 2021 to 2030.
Based on geography, North America held the major share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, at the same time, would cite the fastest CAGR of 9.7% by 2030. The other three provinces discussed in the report include Europe, and LAMEA.
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The key market players analyzed in the global global breakfast cereals market report include PepsiCo, Inc., Kellogg Co, Bagrrys India Ltd., Post holding Inc, Nature's Path Foods, Hamlyn's Of Scotland, General Mills, Bobs Red Mill Natural Foods Inc., B&G Foods Inc., and Marico Limited. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
