The global breakfast cereal market size is expected to reach USD 54.31 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.3% during the forecast period. Growing adoption of convenience foods and rising health consciousness are likely to augment the demand for breakfast cereals over the forecast period.
Surging demand for on-the-go breakfast options such as biscuits and cereal bars is anticipated to stoke market growth. Besides this, expanding base of health-conscious consumers and rising purchasing power are estimated to provide a fillip to the market. In recent times, a large number of consumers are focused on reducing calorie intake by cutting down their portion sizes and replacing traditional breakfast options with breakfast cereals. Moreover, rise in vegetarianism is influencing the market positively.
With increasing demand for breakfast cereals, manufacturers are adopting newer technologies and equipment to enhance shelf life of products. Innovative enzyme technologies and bioprocessing coupled with high-pressure processing technology are being utilized to improve the overall safety, quality, and nutritional traits of oats-based foods.
Consciousness among people to consume healthy products, mostly in western countries, plays a vital role in generating demand. Rising awareness among people in emerging economies regarding health benefits associated with breakfast cereals is poised to create ample opportunities for new market entrants.
Breakfast cereals are distributed across the globe through three primary channels including supermarkets, convenience stores, and e-commerce. Supermarkets dominated the market in 2016 and held over 51.0% of the overall revenue. They offer tremendous benefits such as wide display, huge product lines, attractive product pricing, product promotions, and replacement options.
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Breakfast Cereal Market Report Highlights
• Global sales of breakfast cereals are projected to reach 9.5 million tons by 2025 and exhibit a CAGR of 3.8% during the forecast period
• In terms of revenue, the ready to eat cereals segment is expected to register a CAGR of 3.8% over the forecast period
• Supermarket distribution channel dominated the global market with a share of over 50% in 2016. E-commerce distribution channels are increasingly attaining attention in emerging economies owing to rising penetration of internet and mobile phones
• Asia Pacific is likely to experience the highest CAGR of 7.0% in terms of revenue during the forecast period. Surging demand for breakfast cereals in the region can be attributed to rising geriatric population in Japan, China and Singapore and increasing disposable income and improving healthcare infrastructure in China, India, and Malaysia
• The market is highly competitive with presence of established market players such as B&G Foods, Inc.; Marico Limited; Bob’s Red Mill Natural Foods, Inc.; Bagrrys India Limited; and PepsiCo, Inc.
• The Kellogg Company, Nestle SA, and Cereal Partners Worldwide, which is a joint venture between Nestle CPW and General Mills Inc., are working into a collaborative agreement along with the Australian Government and other public health groups to promote incorporation of healthy and nutritious food into diets of Australians.
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Breakfast Cereal Market Segmentation
Grand View Research has segmented the global breakfast cereal report on the basis of product, distribution channel, and region:
Breakfast Cereal Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
• Ready-to-eat (RTE)
• Hot cereals
Breakfast Cereal Distribution Channel Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
• Convenience Stores
Breakfast Cereal Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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