Overview and Scope
Breakfast cereal is a food that is made from processed cereal grains such as maize, oats, wheat, and others consumed for breakfast or snacks.
Sizing and Forecast
The breakfast cereal market size has grown strongly in recent years. It will grow from $64.11 billion in 2023 to $67.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer shift to convenient breakfast options, advertising and branding campaigns, health and nutritional awareness, packaging and portability, cultural and regional breakfast habits.
The breakfast cereal market size is expected to see strong growth in the next few years. It will grow to $83.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to emphasis on health and wellness, sustainability practices, plant-based and functional ingredients, global culinary influences, targeting specific demographics. Major trends in the forecast period include innovation in shapes and textures, sustainable packaging practices, customization and personalization, digital engagement and marketing, protein-enriched options.
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The breakfast cereal market covered in this report is segmented –
1) By Type: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal
2) By Product: Ready-to-Eat (RTE), Hot Cereals
3) By Packaging: Boxes, Pouches, Other Packagings
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Asia-Pacific was the largest region in the breakfast cereal market in 2023. North America was the second-largest region in the breakfast cereal market. The regions covered in the breakfast cereal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Many countries across the globe are experiencing falling prices of crops due to overcapacity. This is expected to result in low raw material costs for food and beverage companies. For instance, in November 2022, according to the report Frontline, an India-based national magazine on agriculture, the bailout package of $842 million (Rs 7000 core), announced by the Cabinet Committee on Economic Affairs, for farmers involved in the sugar production sectors to fix the minimum selling price of refined sugar of Rs 29 per kilogram (prices dropped to Rs 23-24 recently due to overproduction and to create a buffer stock of 3 million tonnes of sugar for one year. Thus, overproduction of certain crops is likely to result in higher profit margins for food and beverage companies, including breakfast and cereal manufacturing companies. Higher profit margins will enable food and beverage companies to increase their productivity and drive the market going forward.
Key Industry Players
Major companies operating in the breakfast cereal market report are Nestlé S.A., PepsiCo Inc., Abbott Nutrition, The Kraft Heinz Company, Associated British Foods plc, General Mills Inc., Kellanova, The Campbell Soup Company, Post Holdings Inc., Gruma S.A.B. de C.V., The Jordans & Ryvita Company Ltd., The Oetker Group, The Quaker Oats Company, TreeHouse Foods, Calbee Inc., B&G Foods Inc., The Hain Celestial Group Inc., MOM Brands Company, Marico Limited, McKee Foods Corporation, Cereal Partners Worldwide S.A., Grain Millers Inc., Weetabix Limited, Nature’s Path Foods Inc., Back to Nature’s Food Company LLC, Carman’s Fine Foods, Bob’s Red Mill Natural Foods Inc., Bagrrys’s India Limited, Freedom Foods Group Limited, The Muesli Company Pty Limited, Nature’s Best Inc., The Great Canadian Cereal Company Ltd., Attune Foods, Malt-O-Meal, Roman Meal Company
The breakfast cereal market report table of contents includes:
1. Executive Summary
2. Breakfast Cereal Market Characteristics
3. Breakfast Cereal Product/Service Analysis -Product/Service Examples
4. Breakfast Cereal Market Trends And Strategies
……..
68. Global Breakfast Cereal Market Competitive Benchmarking
69. Global Breakfast Cereal Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Breakfast Cereal Market
71. Breakfast Cereal Market Future Outlook and Potential Analysis
72. Appendix
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