The global breakfast cereal market is expected to reach USD 50.7 billion by 2030, growing at a CAGR of 3.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market is expected to be driven by the rising demand for convenient ready-to-eat breakfast cereal options and increasing demand from new regions such as the Asia Pacific and Central & South America brought about by westernization in consumer habits.
Breakfast Cereal Market Report Highlights
- North America contributed a majority of the share in value in 2021. The high demand for convenient and healthy breakfast options is the major factor driving the demand for breakfast cereals in this region.
- The market segmented on the basis of product is expected to be driven by the ready-to-eat segment. The consumer preference for healthy and quick-to-prepare breakfast options is driving the market.
- Supermarkets & hypermarkets distribution channels held the largest value share in 2021 commanding nearly 50% market globally.
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Breakfast cereal is a traditional breakfast food made from processed cereal grains. It is traditionally eaten as part of breakfast or snack food. They include grain food, usually precooked or ready-to-eat and eaten with milk or cream for breakfast in the United States and elsewhere, often sweetened with sugar, syrup, or fruit. The best breakfast cereal you can eat is made up of whole grains that include oatmeal, barley, brown rice, wild rice, buckwheat, millet, or rye. High-fiber and low-sugar options are the best for people with diabetes. Many cereals are high in carbohydrates, which can cause blood glucose levels to rise.
Breakfast is amongst the most important meals of the day since it refuels the body after a night of fasting. A nutritious breakfast boosts both children’s and adults’ mental and physical performance. Breakfast mostly consists of foods that are low in fat, and cholesterol, and abundant in vitamins and minerals. The expanding demand for ready-to-eat morning cereals highlights the market. Because of the rising health risks associated with highly processed foods, cereal consumption is crucial. As a result, demand for these products has risen as a result of changing lifestyles and a booming food industry.
The ready-to-eat (RTE) segment held the largest market share in 2021 and is expected to sustain its dominance during the forecast period due to the convenience offered by it. RTE cereals consumption is majorly driven by the millennial demographics, who have fast-paced lifestyles and less time for cooking breakfast. Further, increasing awareness about the importance of a healthy breakfast is influencing consumers to switch to the convenient RTE segment.
The emergence of COVID-19 has led to an increase in online buying of breakfast cereals. However, supermarkets & hypermarkets still dominated the market sales in 2021, accounting for nearly 50% of the overall global sales. The large-scale proliferation of supermarkets in the U.S., which is now becoming a significant factor in emerging economies as well, is propelling the sales of breakfast cereals through supermarkets & hypermarkets
As a result of the COVID-19 pandemic, health and well-being have become key trends in breakfast cereals. Consumers are increasingly looking for foods that will help increase immunity and are rich in vitamins, minerals, and antioxidants. For instance, in July 2021 Kellogg’s RX brand launched a new cereal made with a plant-based protein called RX Cereal. RX Cereal uses a mix of pea protein, almonds, and brown rice to provide its protein. Each serving of the cereal contains 11 to 12 grams of protein and three to four grams of fiber depending on the flavor. The cereal comes in three varieties: Chocolate Almond, Vanilla Almond, and Strawberry.
Breakfast Cereal Market Insights By Demographics
Food habits have changed due to the varied health issues faced by consumers across the globe. People are shifting to consume nutritional food products. North America held the largest market share globally. The region has the highest penetration in the world, with per capita consumption of both hot and ready-to-eat kinds of cereal exceeding that of other regions. The Asia Pacific is predicted to be the fastest-growing region. The industry growth is significantly driven by the rising consumption of processed food products in countries such as Japan, China, India, and others. Asia-Pacific is proving to be a lucrative market for manufacturers around the globe.
Competitive Analysis By Major Brands
The market is fragmented with the presence of global and regional players offering a variety of cereal options customized to the local palates. These players are focusing on increasing their customer base by cashing in on the nostalgia factor and rising demand for healthy breakfast options during the pandemic period. The major players engaged in the market include PepsiCo, Nestlé, Marico, Calbee, Bagrry India Pvt. Ltd., General Mills Inc., Kellogg Co., B&G Foods, Inc., and Nature’s Path Foods., and Bob’s Red Mill Natural Foods among others.
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Breakfast Cereal Market Segmentation
Grand View Research has segmented the global breakfast cereal market on the basis of product, distribution channel, and region.
- Product Outlook (Revenue, USD Billion; 2017 – 2030)
- Distribution Channel Outlook (Revenue, USD Billion; 2017 – 2030)
- Regional Outlook (Revenue, USD Billion; 2017 – 2030)
- List of Key Players in Breakfast Cereal Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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