Breakfast Cereals Market Size, Share | Industry Analysis 2028

The breakfast cereals market is projected to reach US$ 57,482.17 million by 2028 from US$ 44,831.48 million in 2022. It is expected to grow at a CAGR of 4.2% during 2022-2028.

The market's growth is attributed to consumers' rapidly growing preference for convenience foods. These days, people have different lifestyles and social values, which is fueling the demand for convenience food. The digital technology enabling them to do faster shopping has increased their dependence on ready-to-eat meals. These products are available in various varieties and forms, such as microwave meals, takeaway meals, instant pot noodles, and other types of meals, which has increased food availability in the UK. The rise in consumption of ready-to-eat food has led consumers to purchase more ready-to-eat meals in the region. However, owing to the lockdowns caused by the COVID-19 outbreak, consumers have resorted to cooking at home, which hampered the market to some extent.

In 2021, North America held the key share of the global breakfast cereals market. However, Asia Pacific is estimated to register the highest CAGR in the market during the forecast period. The market in Asia Pacific is segmented into China, India, Japan, South Korea, and Australia. APAC countries, such as South Korea, China, and Japan, are among the major food and beverage markets. The region is also home to numerous breakfast cereals manufacturers, which are growing due to increased domestic demand for packaged beverages. The rising production of beverages in Asia Pacific and increasing preference for ready to eat foods would contribute to the market growth in the region during the forecast period.

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Breakfast Cereals Market: Strategic Insights

Breakfast Cereals Market

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  CAGR (2022 - 2028)

  4.2%
• Market Size 2022
  US$ 44.83 Billion
• Market Size 2028
  US$ 57.48 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• The Kellogg Company
• WEETABIX
• Bob s Red Mill Natural Foods
• General Mills Inc
• Nestl SA
• Nature s Path Foods
• The Quaker Oats Company
• Carman s Fine Foods Pty Ltd
• Calbee Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product Type

• Ready to Eat and Ready to Cook

Category

• Organic and Conventional

Type

• Low Sugar and Regular

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

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Impact of COVID-19 Pandemic on Breakfast Cereals Market

The COVID-19 pandemic significantly disrupted the manufacturing sector in terms of operational efficiency, owing to extended lockdowns across different regions, manufacturing unit shutdowns, restrictions on travel, international trades, and supply chain, and shortages in the raw materials supply, which eventually hampered the breakfast cereals market. The disruption of the food & beverages industry due to the economic slowdown caused by the outbreak also hindered the market's growth. However, businesses have recovered thus as previously imposed limitations are being eased across various countries.

Moreover, the introduction of COVID-19 vaccines by governments of different countries has further eased the situation, leading to a rise in business activities worldwide. Furthermore, governments of different countries are planning to develop modern and technologically advanced infrastructure to mitigate the economic impacts of the pandemic. During the lockdown, consumers purchased many packaged foods and beverages at once instead of food service items. Thus, despite the negative impacts of the COVID-19 pandemic, the breakfast cereals market is expected to grow significantly in the coming years.

Market Insights

Growing consumption of RTE products

Ready-to-eat food products turned into one of the few industries that have witnessed a surge in immense demand during the COVID-19 pandemic. With countries on lockdown and most people working from home, the consumption of ready-to-eat food products has surged. Young consumers spend most of their income on convenient ready-to-eat food products, making them the prime target of these products. Thus, the increased demand and consumption of ready to eat food is driving the breakfast cereals market.

Category Insights

Based on category, the global breakfast cereals market size is segmented into organic and conventional. In 2021, the conventional segment accounted for a larger market share. However, the organic segment is expected to rise at a higher CAGR during the forecast period. Consumers have become more aware of the importance of a strong immune system and healthy lifestyle, resulting in a preference for organic and natural foods. The shift in mindset is expected to continue to boost the organic food market during the forecast period. Organic food products are prepared with zero preservatives and contain no synthetic chemicals. Therefore, people are accepting organic food products into their diet, which will help the market grow in the forecast period.

The Kellogg Company; WEETABIX; Bob’s Red Mill Natural Foods; General Mills Inc.; Nestlé SA; Nature's Path Foods; The Quaker Oats Company; Carman's Fine Foods Pty Ltd.; Calbee, Inc.; and Guilin Seamild Foods Co. Ltd. are the players operating in the breakfast cereals market. These companies provide a wide range of product portfolios for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the market. Market players are developing high-quality, innovative products to meet customer requirements.

Breakfast Cereals Market Report Scope

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Report Spotlights

• Progressive industry trends in the breakfast cereals market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the breakfast cereals market from 2020 to 2028
• Estimation of global demand for breakfast cereals
• Porter’s five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook and factors driving and restraining the growth of the breakfast cereals market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the breakfast cereals market size at various nodes
• Detailed overview and segmentation of the market, as well as the breakfast cereals industry dynamics
• Size of the breakfast cereals market in various regions with promising growth opportunities

The "Global Breakfast Cereals Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global breakfast cereals market trend analysis. The report aims to provide an overview of the market with detailed market segmentation.

The breakfast cereals market is analyzed on the basis of material, application, and geography. Based on product type, the market is segmented into ready to eat and ready to cook. Based on category, the market is segmented into organic and conventional. Based on type, the market is segmented into low sugar and regular. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.

Company Profiles

• The Kellogg Company
• WEETABIX
• Bob’s Red Mill Natural Foods
• General Mills Inc.
• Nestlé SA
• Nature's Path Foods
• The Quaker Oats Company
• Carman's Fine Foods Pty Ltd.
• Calbee, Inc.
• Guilin Seamild Foods Co. Ltd.