Breakfast Cereals Market is Segmented By Product Type (Flakes, Bars, Fillows, Granola, Others), By Source (Wheat, Oats, Rice, Corn, Mixed Grain, Others), By Flavor (Non-Flavored, Flavored), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Breakfast Cereals Market Size
The Global Breakfast Cereals Market US$ 101.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 175.1 billion by 2031. The market is growing at a CAGR of 7.1% during the forecast period 2024-2031. Gluten-free breakfast cereals, often made from grains like rice, corn, or quinoa, cater to this consumer segment.
There is a growing demand for healthier breakfast cereals that offer nutritional benefits. Consumers are increasingly seeking options with low sugar content, higher fiber content, and added functional ingredients like vitamins, minerals, and antioxidants. The demand for gluten-free options has surged due to increased awareness and diagnoses of gluten-related. Manufacturers are responding by introducing healthier variants and fortifying their products to cater to this trend. The rise of plant-based diets and the increasing popularity of alternative ingredients have influenced the breakfast cereals market. Consumers are looking for cereal grains made from whole grains like oats, quinoa, and ancient grains, as well as alternatives like rice, almond, soy, or coconut milk. Plant-based and alternative ingredient-based cereals are gaining traction and contributing to market growth.
Breakfast Cereals Market Summary
| Metrics | Details |
| CAGR | 7.1% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Product Type, By Source, By Flavor, By Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Breakfast Cereals Market Trends
Consumers' Increasing Preference for Convenient and Healthy Food Options is Driving the Growth of the Breakfast Cereals Market
Consumers are increasingly becoming health-conscious and seeking nutritious food options. 40 grams (or 1 cup) of fortified total breakfast cereals contain 40 mg of iron, representing 100% of the recommended daily intake. These healthier options cater to consumers' desire for balanced and nutritious breakfast choices, thus driving the market growth.
Busy lifestyles and time constraints have led to a growing demand for convenient food products. Breakfast cereals provide a quick and hassle-free breakfast solution. With minimal preparation time required, consumers can easily incorporate breakfast cereals into their daily routines. The convenience factor is particularly appealing to individuals who have limited time for meal preparation, contributing to the market's growth.
Rapid Urbanization and Shifting Consumer Lifestyles are Driving the Market Growth
Urbanization is often accompanied by fast-paced and busy lifestyles. Breakfast cereals provide a quick and easy-to-prepare meal that requires minimal time and effort. This convenience factor resonates with urban dwellers who have limited time for breakfast preparation, thus driving the demand for breakfast cereals. For instance, according to OECD‑FAO Agricultural Outlook 2021-2030, the expected rise in cerealconsumption from 2.7 billion tonnes in the base period to 3 billion tonnes by 2030 will be mostly due to increased feed usage (+163 Mt), followed by increased food use (+146 Mt). In developing nations, the absolute growth in food use (+140 Mt) will likewise exceed the growth in feed use (+124 Mt).
Urban lifestyles often involve commuting and a greater emphasis on productivity. As a result, consumers prefer breakfast options that can be consumed on the go. Breakfast cereals, especially those packaged in single-serve portions, offer a portable and convenient breakfast solution. They can be easily consumed at home, during travel, or at the workplace, catering to the needs of urban consumers who prioritize efficiency and convenience.
Availability of Affordable and Healthful Meal Options can Hamper the Market Growth of Breakfast Cereals
Breakfast cereals, especially branded and specialty options, can be relatively more expensive compared to some other breakfast alternatives. Low-cost meal options like homemade meals, oatmeal, bread, or fruit can provide a more affordable breakfast solution for price-sensitive consumers. The availability of these cost-competitive alternatives may lead consumers to choose them over breakfast cereals, limiting market growth.
Consumers increasingly seek fresh, unprocessed, and whole food options for their breakfast. Alternatives such as fruits, vegetables, yogurt, or freshly made sandwiches appeal to those who prioritize natural and nutrient-dense choices. These alternatives are often perceived as healthier and may draw consumers away from packaged breakfast cereals.
Breakfast Cereals Market Segmentation Analysis
The global breakfast cereals market is segmented based on product type, source, flavor, distribution channel, and region.
Convenience and Ease of Consumption of Ready-to-eat Breakfast Cereals Drives the Segment Growth
Based on product type, the breakfast cereals market is divided into hot cereals and ready-to-eat cereals.
In 2022, ready-to-eat breakfast cereals dominate the market due to the busy lifestyle. Ready-to-eat cereals are designed to be consumed without any additional cooking or preparation. They can be enjoyed straight out of the box with milk or other preferred toppings. This convenience factor appeals to busy individuals and those looking for quick and hassle-free breakfast options.
Ready-to-eat cereals offer a wide range of flavors, textures, and formulations. Manufacturers cater to diverse consumer preferences by introducing various combinations of grains, fruits, nuts, and other ingredients. This variety allows consumers to choose cereals that align with their taste preferences and dietary needs, contributing to the popularity and market share of ready-to-eat cereals.
Breakfast Cereals Market Geographical Share
High Consumption and Large Market Size in North America Region
In 2022, North America accounted for the highest market share among all of the regions. The breakfast cereals market in North America is well-developed and has a long history of consumption. It is deeply ingrained in the breakfast culture of the region, with a significant portion of the population regularly consuming breakfast cereals. According to The World Bank, in 2021, 452,628,439 metric tons of cereals are produced in the United States.
North American consumers have shown a strong preference for convenient and ready-to-eat breakfast options. Breakfast cereals align well with these preferences as they offer quick and hassle-free breakfast solutions that fit into the fast-paced lifestyles of North American consumers. Hence, the consumer Preference for cereals has helped drive market growth in the region.
Breakfast Cereals Companies
The major global players include Nestle S.A., The Kellogg Company, General Mills, Inc., Clif Bar & Company, PepsiCo, Inc., Bagrrys India Limited, Freeland Foods, The Quaker Oats Company, Bob's Red Mill, Post-Consumer Brands
COVID-19 Impact on Breakfast Cereals Market
COVID-19 Impact
The outbreak of the novel coronavirus has had a limited impact on the sales of breakfast cereals in 2020. Demand from consumers for nutritious, processed food witnessed growth owing to increasing concern of consumers towards health. The sales of breakfast cereals also increased during the pandemic, owing to rising in-home consumption. The convenience offered by these food products is gaining a new customer base among the time-pressed population. Also, COVID-19 is likely to pose a long-term positive impact on the market as the interest in nutrition diet is significantly increased during the pandemic.
Key Developments
- In August 2022, PepsiCo India, supplier of complementary beverage and convenient foods, decided to enter into the ready-to-eat Breakfast Cereals segment with the launch of Quaker Oats Muesli.
- In November 2022, General Mills, an American multinational manufacturer and marketer of branded processed consumer foods, announced the launch of two new cereals in 2023. The cereals include Lucky Charms S’mores and Hot Wheels Cereal.
- In December 2022, Quaker, Chicago-based American manufacturer of oatmeal and other food and beverage products. expands its Portfolio with Ready-To-Eat Breakfast Cereals and introduced Quaker Oats Muesli.
Why Purchase the Report?
- To visualize the global breakfast cereals market segmentation based on product type, source, flavor, distribution channel, and region understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous breakfast cereals market-level data points all for segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The Global Breakfast Cereals Market Report Would Provide Approximately 69 Tables, 69 Figures and 102 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
