by The Breakfast Cereals Market is estimated to be valued at US$ 51,374.54 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Breakfast cereals refers to cereal grains that are processed and eaten for breakfast like oats, wheat, corn etc. Different types of breakfast cereals includes ready-to-eat cold cereals, hot cereals and packaged cereals. They are usually enriched with vitamins like thiamin, niacin and iron. Breakfast cereals are convenient and easily digestible foods that provide energy and nutrients required to start the day. They come in different flavors, textures and forms to suit different tastes of consumers.
Market Dynamics:
Growing health and wellness trend among consumers is driving the demand for healthy breakfast options, especially cereal products. Breakfast cereals are considered healthier than traditional breakfast choices like fried foods as they are lower in fat, calories and sodium. Moreover, cereals enriched with essential vitamins, minerals, whole grains and fiber promote heart health, weight management and digestive health. This is fueling the growth of the breakfast cereals market. Another key driver is the increasing demand for organic and plant-based breakfast cereal products. The demand for organic cereals is rising owing to rising health consciousness and concerns regarding pesticide residue in conventionally produced foods. Plant-based products provide an alternative for consumers reducing or eliminating animal products from their diet.
Segment Analysis
The global breakfast cereals market is segmented into hot cereals and ready-to-eat cereals. The ready-to-eat cereals segment dominates the market and is expected to grow at a higher CAGR during the forecast period. Ready-to-eat cereals are gaining popularity due to the busy lifestyle of people and convenience offered by these cereals. These cereals can be consumed directly from the packet without requiring cooking.
PEST Analysis
Political: Government initiatives to promote nutritional labelling and standards are positively impacting the market. Setting of healthy dietary guidelines influence consumer choices.
Economic: Rising disposable incomes and growing working population is driving the demand for convenience foods like ready-to-eat cereals.
Social: Changing social patterns with dual-income families fuelling the need for nutritious yet convenient breakfast options. Gradual shift toward healthy eating preferences.
Technological: Advancements in processing and packaging technologies aid in developing innovative product formats with longer shelf life and improved nutritional profiles.
Key Takeaways
The Global Breakfast Cereals Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing health consciousness among consumers. The market size for 2023 is US$ 51374.54 Mn.
Regional analysis:
North America dominates the global market led by the US and Canada. Europe is anticipated to witness the fastest growth over the forecast period owing to increasing health awareness.
Key players operating in the breakfast cereals market are Kellogg Co., General Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The Weetabix Food Company. Kellogg Co. leads the global cereal market with iconic brands like Special K, Frosties, and Corn Flakes. General Mills offers a wide range of healthy cereals under brands such as Cheerios, Chex, and Fiber One.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
