Breakfast Cereal Market to Reach US$68.86 Billion by 2029, Driven by Convenience and Health Trends
The global breakfast cereal market is projected to grow at a steady CAGR of 4.8% from 2023 to 2029, reaching a value of US$68.86 billion, according to a recent report. This growth is driven by increasing urbanization, busy lifestyles, and rising demand for convenient and healthy breakfast options.
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Market Overview:
- The breakfast cereal market was valued at US$49.59 billion in 2022 and is expected to reach US$68.86 billion by 2029.
- Rising disposable incomes and changing consumer preferences towards healthy and convenient breakfast choices are key drivers of the market.
- Increasing penetration of e-commerce and growing awareness about fortified and organic cereals are further stimulating market growth.
Report Scope:
This report provides a comprehensive overview of the global breakfast cereal market, including:
- Market size and growth projections
- Key market trends and drivers
- Regional analysis
- Competitive landscape
- Future outlook
Research Methodology:
The report utilizes a combination of primary and secondary research methodologies, including:
- In-depth interviews with industry experts and key players
- Analysis of relevant research reports, government data, and industry publications
- Quantitative data analysis using advanced statistical tools
Segmentation:
The report segments the market based on:
The ready-to-eat and hot cereal segments of the worldwide breakfast cereal industry are split based on product. With a 72% market share in 2022, the ready-to-eat category had the most share. The demand for healthy, ready-to-eat meals the night before going to bed has greatly increased due to clients' hectic lifestyles. Cereal, bars, and cookies for all ages are included in this category. Nonetheless, over the course of the forecast period, the hot cereal is anticipated to expand at a higher CAGR of % in the worldwide breakfast cereal market. The demand for multigrain cereals containing grains, nuts, and lentils is being driven by the rising desire for nutritious breakfast options.
The global breakfast cereal market is divided into supermarket, e-commerce, convenience store, and others segments based on the distribution channel. In 2022, the Supermarket category accounted for 44.2% of the total market share. because supermarkets are becoming more and more popular, especially in developing countries. Additionally, throughout the course of the forecast period, the global breakfast cereal market's E-Commerce segment is anticipated to rise at the highest CAGR of %. as consumers' use of cellphones and the internet grows. The growing trend of online shopping among customers and the growing popularity of e-commerce websites are driving positive growth in the worldwide breakfast cereal industry.
Regional Insights:
The breakfast cereal market in the world is led by Asia Pacific for the projected period of 2022–2029. In 2022, Asia Pacific accounted for 51.3% of the market share. Population increase in this area, along with rising middle-class spending power, is expected to fuel the expansion of the worldwide breakfast cereal industry. Additionally, the desire for convenient, ready-to-eat meals has increased due to rising urbanisation and industrialization, which is positively driving the growth of the worldwide breakfast cereal market. The commercial domination of breakfast cereals in the Asia Pacific region can be attributed to this. Because there are important manufacturers in both China and India, the expansion of the global breakfast cereal market is anticipated to be fueled by their presence.
Key Players:
1. Marico Limited
2. B&G Foods Inc.
3. Bagrrys India Ltd.
4. Kellogg Company
5. General Mills, Inc.
6. Nestlé S.A.
7. PepsiCo, Inc.
8. Alara Wholefoods Ltd.,
9. Post Holdings, Inc. (Attune Foods LLC)
10. Archer Daniels Midland Company
11. Bob's Red Mill Natural Foods Inc.
12. Weetabix Limited
13. Jordans & Ryvita Company
14. TreeHouse foods, Inc
15. Attune foods
16. Sanitarium Health
17. NutriPur
18. Clextral
19. VVR Baltic
20. Endaxi company
Major players in the global breakfast cereal market include Kellogg Company, General Mills, Inc., Nestlé S.A., PepsiCo, Inc., and Post Holdings, Inc. Additionally, regional players like Marico Limited, B&G Foods Inc., and Bagrrys India Ltd. are gaining traction.
About the Report:
This report provides valuable insights for industry stakeholders, including cereal manufacturers, distributors, retailers, and investors, to make informed business decisions and capitalize on growth opportunities in the global breakfast cereal market.
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About Maximize Market Research:
At Maximize Market Research, our commitment to excellence permeates every facet of our comprehensive approach to market research and consulting. Our team comprises a diverse array of experts from various industries, ensuring a rich tapestry of knowledge and experience that we bring to our clients' projects. We take pride in our extensive coverage across a broad spectrum of sectors, guaranteeing our ability to address the unique requirements of clients operating in diverse fields, whether it be medical devices, pharmaceuticals, technology, or any other industry. Our suite of services encompasses meticulously validated industry estimations, strategic consultancy, and competitive analysis, all meticulously designed to furnish clients with the insights and guidance essential for thriving in today's dynamic business landscape. With an unwavering focus on precision and actionable intelligence, we aspire to be the trusted ally that businesses depend on to navigate the intricacies of the market and emerge as trailblazers in their respective domains.
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