Breakfast Cereal Market
Growth Factors of Breakfast Cereal Market
The breakfast cereal market size was valued at USD 36.38 billion in 2023, and the market is now projected to grow from USD 38.12 billion in 2024 to USD 58.35 billion by 2032, exhibiting a CAGR of 45.55% during the forecast period of 2024-2032.
The demand for the product extended appreciably during the COVID-19 pandemic. As people were constrained in their houses, as opposed to ingesting breakfast from foodservices, domestic consumption multiplied, and the demand for processed cereal breakfast multiplied. New products that have been launched helped purchasers reminisce approximately childhood memories, which expanded the product demand.
The developing reputation of the on-the-go life-style has expanded the demand and popularity of cereals which consist of ready-to-eat merchandise among clients. The boom in inflation has also amplified the demand for cost-friendly products amongst customers. Products in smaller packaging with smaller charge labels are becoming popular among value- aware purchasers. Moreover, processed ingredients including breakfast cereals are famous among customers as they may be handy and have a higher shelf existence. The products are available in a huge number of flavors and shapes, appealing to a wide purchaser phase that ranges from youngsters to adults.
Clean-label merchandises are becoming popular among purchasers. Products with labels together with ""GMO-free"" and ""Gluten-free"" are perceived as healthy, and thus, cereal manufacturers are launching merchandise with comparable claims to cater to such consumer segments. Fortification of the product with vitamins and minerals is likewise gaining prominence in the worldwide market due to the growing demand for healthy meals products.
Comprehensive Analysis of Breakfast Cereal Market
The cereal market consists of hot cereals, prepared-to-devour types, and home-cooked warm cereals. Ready-to-devour cereals have the largest market share because of their comfort and variety. Hot cereals are popular among consumers who prefer home-cooked warm cereals. Conventional and organic cereals are also available, with the former being more popular due to their wide availability and budget-friendly nature. Natural and organic merchandise have become greater famous due to issues about environmental pollution, consisting of insecticides and pesticides, which purpose 85% of cancers. Distribution channels consist of supermarkets/hypermarkets, comfort stores, on-line retail, and vicinity of know-how stores. The COVID-19 pandemic has boosted the adoption of on-line retail, with first-time clients moving to online systems for diverse purchases. Overall, the breakfast cereal market growth is developing.
The Nort America region lead the breakfast cereal market share by benefitting a market size of USD 16.57 billion in 2023 due to the region is dominated by major manufacturers like General Mills, Kelloggs, and Post Holdings. These companies are launching various products to meet growing demand, but a significant portion are high in sugar, contributing to obesity in the region. Health associations in the region are encouraging consumers to buy products with lower sugar content to raise awareness and limit their sugar intake. This is a key strategy to combat obesity in the region.
The market is semi-consolidated, with major manufacturers like Kelloggs Company, General Mills, and Post Holdings dominating. They are launching various products to satisfy developing call for, targeting health-aware consumers and presenting component-managed, budget-friendly options. Manufacturers are also centered on untapped markets in Asia, Middle East, and South America. Key organizations embody Nestle S.A., Post Holdings, General Mills, Pepsico, Margico, Bagrrys India, G ingredients, and Bob's Red Mill Natural Foods.
April 2024 Kelloggs India released a brand new breakfast cereal product providing named Froot Loops for customers. The product is focused specifically for kids and offers a fruity and colorful offering to clients.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.47% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
- Hot Cereals
- Ready –to-Eat Cereals
By Category
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience stores
- Online Retail
- Others
By Region
- North America (By Type, Category, Distribution Channel, and Country)
- U.S. (By Category)
- Canada (By Category)
- Mexico (By Category)
- Europe (By Type, Category, Distribution Channel, and Country)
- U.K. (By Category)
- Germany (By Category)
- France (By Category)
- Spain (By Category)
- Italy (By Category)
- Denmark (By Category)
- Netherlands (By Category)
- Rest of Europe (By Category)
- Asia Pacific (By Type, Category, Distribution Channel, and Country)
- China (By Category)
- India (By Category)
- Japan (By Category)
- Australia (By Category)
- Vietnam (By Category)
- Philippines (By Category)
- South Korea (By Category)
- Rest of the Asia Pacific (By Category)
- South America (By Type, Category, Distribution Channel, and Country)
- Brazil (By Category)
- Argentina (By Category)
- Rest of South America (By Category)
- Middle East and Africa (By Product Type, Category, Distribution Channel, and Country)
- Turkey (By Category)
- Saudi Arabia (By Category)
- South Africa (By Category)
- Rest of the Middle East & Africa (By Category)
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