Newark, Sept. 20, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global breakfast cereals market is expected to grow from USD 64.37 billion in 2021 to USD 95.90 billion by 2030, at a CAGR of 4.53% during the forecast period 2022-2030.
The handy, quick, affordable, and accessible foods are becoming more and more popular given today's population's hectic and busy schedules. Thereby aiding in the development of the breakfast cereals market. Also, the presence of carbohydrates, protein, and numerous vitamins and minerals in breakfast cereals that provides energy, boost metabolism, regulate the heart, promote bone strength, and lower the risk of sickness will attract more consumers to the market. The market will develop as people become more aware of the advantages of breakfast cereals.
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Additionally, breakfast cereals come in a wide range of flavors and variants. Furthermore, innovative marketing techniques have increased the popularity of breakfast cereals worldwide. Also, market players are creating breakfast cereals with flavors tailored to the consumers' local tastes and preferences. Introducing healthy, sugar-free, gluten-free, organic, keto-friendly, protein-rich, high-fiber cereals also attracts new consumers to the market. Such initiatives will broaden the consumer market and offer profitable opportunities to market players. However, the global uncertainties make it difficult for the market players to procure raw materials limiting market development. Furthermore, the growing concern about the misleading nutritional information provided by the market players can challenge the market's growth. Proper messaging with cautious advisory on cereal consumption can mitigate the restrictions and challenges for the market players.
Competitive Strategy
To enhance their market position in the global breakfast cereals market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Froot loops, a multigrain cereal derived from corn, wheat, and oats, was introduced by Kellogg's in August 2021. Kellogg's also encourages the consumption of cereals for purposes other than breakfast. For instance, K Energy Bars from Kellogg's and Ragi Bites Snacks from Tata Soulfull are two recent innovations consumed as everyday evening snacks.
• The launch of Bournvita Fills by Mondelez India in August 2020 marked the company's entry into the breakfast cereal sector. The business has widened its product offering in the area with this new launch.
Report Scope & Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 64.37 billion |
| Revenue forecast in 2030 | USD 95.90 billion |
| Growth Rate | CAGR of almost 4.53% 2022-2030 |
| Base Year | 2021 |
| Historic Years | 2018 - 2020 |
| Forecast Years | 2022 - 2030 |
| Segments Covered | Product Type, Ingredient Type, Distribution Channel, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World |
| Number of Companies Covered | Attune Foods LLC, B&G Foods Inc., Bagrrys India Ltd., Bob’s Red Mill Natural Foods Inc., Generals Mills Inc., Kellogg Co., Marico Ltd., Nature’s Path Foods, Nestle SA, PepsiCo Inc. |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Market Growth & Trends
The rising demand for ready-to-eat foods will drive the market for breakfast cereals; growing public awareness of the nutritional advantages of cereals will support industry expansion. Introducing new cereals in various sizes and flavors tailored to the regional or national palate will also help the industry flourish. Expanding retail chains and convenience stores will also fuel the market's growth. The breakfast cereals market witnessed steady growth before the pandemic hit, and unlike most markets, the pandemic has had a positive impact on the breakfast cereals market. The pandemic-induced lockdowns facilitated the growth of homemade breakfast cereals wherein consumers experimented with cereals by adding new ingredients of choices like dry fruits, raisins, seasonal fruits, chia seeds, yogurt, and other flavoring agents. For instance, the trend of making overnight oats, yogurt granola bowls, and oatmeals gained popularity on the social media platforms like Instagram. Furthermore, the continued enhancement in the quality and diversity of breakfast cereals has impeded the market.
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Key Findings
• In 2021, the ready-to-eat segment dominated the market with the largest market share of 74% and market revenue of 47.63 billion.
The product type segment is divided into hot cereals and ready-to-eat cereals. In 2021, the ready-to-eat segment dominated the market with the largest market share of 74% and market revenue of 47.63 billion.
• Over the forecast period, the oats segment will grow at the fastest CAGR of 6.29%.
The ingredient type segment is divided into rice, oats, wheat, corn, and barley. Over the forecast period, the oats segment will grow at the fastest CAGR of 6.29%.
• In 2021, the supermarkets/hypermarkets segment accounted for the largest share of the market, with 69% and a market revenue of 44.41 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, online, specialty stores, convenience stores, and others. In 2021, the supermarket/hypermarket segment accounted for the largest share of the market, with 69% and a market revenue of 44.41 billion.
Regional Segment Analysis of the Breakfast Cereals Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America emerged as the largest market for the global breakfast cereals market, with a market share of around 37.65% and 24.23 billion of market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The breakfast cereals market in the Asia Pacific has been expanding rapidly. The rising demand for ready-to-eat products, given the busy lifestyle of the population, is driving the market in this region. With the growing influence of western food culture in Asia, the demand for breakfast cereals will witness a rise. Furthermore, the market players are exploiting the region by offering breakfast cereals customized for the local audience according to their tastes and preferences. Therefore, the development of the breakfast cereals market in the Asia Pacific region has attracted numerous market players, expanding the product base and allowing customers to choose from the best brands. The increasing expansion of supermarket/hypermarket chains like reliance, big bazaar, and D-mart is a positive development for the breakfast cereals market as the maximum sales happen through these distribution channels. The products are affordable, accessible, easy to make, and available in numerous flavors, which will facilitate the market's growth.
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Key players operating in the global breakfast cereals market are:
• Attune Foods LLC
• B&G Foods Inc.
• Bagrrys India Ltd.
• Bob’s Red Mill Natural Foods Inc.
• Generals Mills Inc.
• Kellogg Co.
• Marico Ltd.
• Nature’s Path Foods
• Nestle SA
• PepsiCo Inc.
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global breakfast cereals market based on the below-mentioned segments:
Global Breakfast Cereals Market by Product Type:
• Hot Cereals
• Ready-To-Eat Cereals
Global Breakfast Cereals Market by Ingredient Type:
• Rice
• Oats
• Wheat
• Corn
• Barley
Global Breakfast Cereals Market by Distribution Channel:
• Supermarkets/Hypermarkets
• Online
• Specialty Stores
• Convenience Stores
• Others
About the report:
The global breakfast cereals market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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