Dublin, June 18, 2024 (GLOBE NEWSWIRE) -- The "Global Breakfast Cereals Market: Analysis By Product, By Ingredient Type, By Distribution Channel, By Region Size, Trends and Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global breakfast cereals market value in 2023 stood at US$48.15 billion, and is forecast to reach US$ 66.65 billion by 2029. The market is projected to grow at a CAGR of 5.62%, during 2024-2029.
Increasing consumer demand for convenience serves as a significant growth driver for the breakfast cereals market. In today's fast-paced world, many consumers seek quick and easy breakfast options that fit into their busy lifestyles. This demand for convenience has been further amplified by the growing number of working professionals, dual-income households, and urbanization, all of which contribute to the preference for ready-to-eat breakfast solutions. Other factors driving the growth of global breakfast cereals market include rising disposable income, adoption of western dietary patterns, diverse product offering, increasing number of retail channel, increasing focus on health, etc.
The global breakfast cereals market faces a major challenge due to shifting consumer preferences towards fresh, whole foods and alternative breakfast options like smoothies, yogurt, and protein-rich meals. This change is driven by increased health and nutrition awareness, leading people to seek more natural and wholesome breakfasts. Concerns over the high sugar content, artificial additives, and overall nutritional profiles of many traditional cereals are prompting consumers to scrutinize food labels and choose healthier options.
A key trend in the global breakfast cereals market is the rise of plant-based and alternative ingredients. Consumers are increasingly seeking healthier, sustainable, and environmentally friendly options, driving demand for vegan cereals made from whole grains, legumes, and starches, free from animal-derived ingredients. These cereals are often fortified with vitamins and minerals, and offer low-sugar, high-fiber, and high-protein options. Popular brands like Kashi and Nature's Path are leading this trend, catering to the growing preference for plant-based diets and ethical consumption. More trends are believed to augment the growth of breakfast cereals market during the forecasted period include, sustainability and eco-friendly practices, cereals used for snacking, rising sale of gift snack items, health and wellness trend, tapping developing regions etc.
Market Segmentation Analysis:
By Product: Ready-to-eat segment acquired the majority of share in the market in 2023. The hot cereals segment has been experiencing rapid growth in the global breakfast cereals market because of the growing awareness of the health benefits of whole grains and fiber-rich foods.
By Ingredient Type: Wheat acquired the majority share in the market in 2023 due to the widespread availability and affordability of wheat grains, consumer preference for the familiar taste and texture of wheat-based products, and the perception of wheat as a wholesome and nutritious ingredient. The Oats segment has been experiencing rapid growth in the global breakfast cereals market due to the increasing health consciousness among consumers as oats are considered superfood, rich in beta-glucan fiber, which can help lower cholesterol levels and promote heart health.
By Distribution Channel: Hypermarkets and supermarkets acquired the majority share in the market in 2023 as they offer a wide variety of breakfast cereal products from various brands, making them a one-stop shop for consumers. The e-retailers segment has been experiencing rapid growth in the global breakfast cereals market due to the increasing adoption of smartphones and the internet, the comfort of home delivery, and the vast product variety available online. Also, e-commerce platforms offer lucrative discounts, and hassle-free shopping experiences, catering to the convenience-seeking behavior of modern consumers.
By Region: The North America breakfast cereals market enjoyed the highest market share in 2023. Firstly, breakfast cereals have a long-standing tradition in North America, with high consumption rates and a wide variety of products available to consumers. Additionally, strong brand presence and marketing efforts by key players contribute to the market's dominance in the region. Furthermore, the convenience and versatility of breakfast cereals align well with the fast-paced lifestyles of North American consumers, making them a popular choice for breakfast.
While, Asia Pacific region has been experiencing rapid growth in the global breakfast cereals market. Changing dietary habits and lifestyles, driven by increasing disposable income particularly in urban areas, is driving the adoption of Western-style breakfast habits, including the consumption of ready-to-eat cereals. Additionally, the increasing awareness of health and wellness among consumers and the expanding retail landscape, including the growth of organized retail chains and e-commerce platforms, is making breakfast cereals more accessible to consumers across the region, further fueling market growth.
India is expected to register the fastest growth in the Asia Pacific's breakfast cereals market. India has a rapidly growing population, including a significant portion of young consumers who are increasingly embracing convenience foods like breakfast cereals. Secondly, urbanization and changing lifestyles, coupled with a shift towards more Westernized dietary patterns, are driving the demand for ready-to-eat breakfast options. Furthermore, increasing health awareness, the expanding retail landscape, including the growth of organized retail and e-commerce platforms, is making breakfast cereals more accessible to consumers across India.
Competitive Landscape and Recent Developments:
Breakfast cereals industry exhibits high fragmentation, with numerous players contributing to a diverse landscape. The market is characterized by many companies offering a wide range of quality products, creating a competitive environment.
Key players in the global breakfast cereals market are:
- Kellogg's Company
- General Mills Inc.
- Cereal Partners Worldwide
- PepsiCo, Inc.
- Calbee
- Bob's Red Mill Natural Foods
- Marico Ltd.
- Post Holdings Inc.
- Bagrry India Pvt. Ltd.
- Nature's Path Foods
- BARBARA'S
- Purelyelizabeth
- Viz Branz Limited
The key players are constantly investing in strategic initiatives, such as adoption of new technologies, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in February 2024, Marico introduced four gourmet-style flavors in Saffola Oats range and in October 2023, The Quaker Oats Co., a subsidiary of PepsiCo, Inc., launched first breakfast cereal under the Quaker Chewy brand: Quaker Chewy Granola.
Additionally, in February 2024, Nestle Cereals launched its first Nesquik media campaign to enhance its cereal offerings. The campaign promotes the Nesquik non-HFSS cereal range, which includes Nesquik Chocolate, Nesquik Mix, and Nesquik Choco Waves. It highlights the delicious taste and nutritional benefits of Nesquik cereals, which contain whole grains, B vitamins, calcium, and iron.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 173 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $50.71 Billion |
| Forecasted Market Value (USD) by 2029 | $66.65 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Breakfast Cereals Market Analysis
3.2 Global Breakfast Cereals Market Product Analysis
3.3 Global Breakfast Cereals Market Ingredient Type Analysis
3.4 Global Breakfast Cereals Market Distribution Channel Analysis
4. Regional Market Analysis
4.1 North America Breakfast Cereals Market Analysis
4.2 Europe Breakfast Cereals Market Analysis
4.3 Asia Pacific Breakfast Cereals Market Analysis
4.4 Latin America Breakfast Cereals Market Analysis
4.5 Middle East and Africa Breakfast Cereals Market Analysis
5. Impact of COVID-19
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rapid Urbanization
6.1.2 Increasing Disposable Income
6.1.3 Growing Demand for an Easy-to-prepare and Ready-to-eat Meal
6.1.4 Increasing Adoption of Western Dietary Patterns
6.1.5 Increasing Number of Convenience Stores
6.1.6 Diverse Product Offerings
6.2 Challenges
6.2.1 Changing Perception towards Processed Foods
6.2.2 Presence of Cheaper Breakfast Options
6.3 Market Trends
6.3.1 Online Shopping and E-commerce
6.3.2 Plant-Based and Alternative Ingredients
6.3.3 Sustainable and Eco-Friendly Practices
6.3.4 Snacking and On-the-Go Breakfast Solutions
6.3.5 Rising Sale of Gift Snack Items
6.3.6 Health and Wellness Trends
6.3.7 Global Expansion and Market Penetration/ Tapping Developing Regions
7. Competitive Landscape
7.1 Competitive Landscape
7.2 Recent Developments
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/88fat1
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