Global Breakfast Cereal Market Size To Grow At A CAGR Of 7.4% In The Forecast Period Of 2023-2028
The ‘Global Breakfast Cereal Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global breakfast cereal market, assessing the market on the basis of its segments like product type, distribution channel, and major regions.
The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 7.4%
The easy availability of breakfast cereals among the different distribution channels, such as convenience stores, departmental stores, supermarkets, and hypermarkets are driving the breakfast cereal market across the globe. Going further, the rise in the demand for ready-to-eat food for breakfast is further supporting the market demand for breakfast cereals. The advancing food retail infrastructure, coupled with the increasing awareness regarding the health advantages of consuming grain-based breakfasts, is further expected to propel the market growth of breakfast cereals globally over the coming years.
Based on product type, the ready-to-eat cereals segment is holding the breakfast cereal market share across the globe due to the increasing popularity of the ready-to-eat breakfast option as it is nutritious and convenient. With the fast-paced lifestyle and the increasing young working population, the market demand for breakfast cereals has increased all over the globe.
Meanwhile, the hot cereal segment is expected to propel the market growth of breakfast cereal over the coming years due to the surging popularity of hot cereals, such as muesli and oats. Further, the manufacturers are responding by adding up savory alternatives that are healthy as well as pleasant to expand their consumer base.
Breakfast cereal Industry Definition and Major Segments
Breakfast cereal is known as a traditional breakfast food generated from processed cereal grains. It is further categorised as cold cereal or warm cereal. It is usually eaten as part of snack food or breakfast, mainly in western societies. It includes grain food, which is generally ready-to-eat or precooked, that is typically eaten with milk or cream for breakfast mostly sweetened with syrup, fruit, or sugar.
On the basis of product type, the market is divided into:
• Ready-to-Eat Cereals
• Hot Cereals
By distribution channel, the market is classified into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Store
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
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Breakfast Cereal Market Trends
The global breakfast cereal market is anticipated to register growth during the forecast period on account of the rising trend of adopting cereal as a breakfast among people, along with the growing working population. With the growing availability of flavoured and innovative options in breakfast cereals, especially in emerging economies, the market growth of breakfast cereals is likely to rise in the upcoming years. The improving food retail infrastructure, coupled with the rising popularity of the advantages of eating grain-based breakfasts, are expected to fuel the market demand for breakfast cereals.
Increasing disposable income among people, growing consciousness regarding the significance of a healthy breakfast, changing food habits, and rapid urbanization are some of the key factors that are driving the growth of the market. These aspects are expected to enhance the growth of breakfast cereal over the upcoming years.
On the basis of the distribution channel, the supermarket and hypermarket segment are holding considerable growth in the market due to the growing retail infrastructure, coupled with the resulting boost in the number of hypermarkets and supermarkets in urban areas.
Meanwhile, the online segment is expected to fuel the market growth of breakfast cereal owing to factors like easy deliveries, along with attractive discounts. The Asia Pacific region is expected to gain momentum in the market growth on account of the growing consumption of processed food products in countries like China, Japan, and India, among others.
Key Market Players
The major players in the global breakfast cereal market
• Nestlé Group
• Kellogg’s Company
• Bob’s Red Mill Natural Foods
• General Mills, Inc.
• Post Consumer Brands, LLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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