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The global breakfast cereal market size is anticipated to witness significant growth during the forecast period, due to increasing demand for convenient and healthy packaged breakfast cereals across developed as well as developing economies. With the increase in number of people suffering from diabetes, high blood pressure, obesity, and cardiovascular diseases, the demand for healthy and low-calorie breakfast options is fostering, which in turn is expected to fuel the breakfast cereal market in the forthcoming years.
Key companies operating in the global breakfast cereal market are focusing on the launch of innovative and healthy breakfast cereal and expand their international reach to remain prominent in the market. Nestle S.A., Bagrrys’s India Limited, Kellogg Company, and PepsiCo, Inc. are some of the key companies performing in the global market.
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Breakfast cereals are breakfast foods that are manufactured after processing cereal grains, such as wheat, barley, oats, millets, and others. The product’s demand was earlier limited to only western countries, but the demand for the product is witnessing significant growth across the globe due to an increasing number of diet or health-conscious population, who are focusing on eating healthy.
The rapid increase in number of people suffering from chronic diseases is anticipated to escalate the demand for low-calorie and healthy breakfast options, which is expected to boost the global breakfast cereal market growth during the forecast period. Increased product launches and the launch of products that have exotic and healthy ingredients within them such as oats, flax seeds, and chia seeds is anticipated to foster the market growth in the coming years. Furthermore, rising demand for breakfast cereals in the production of infant food is expected to contribute positively to the growth of the breakfast cereal market.
Difficulties faced by manufacturers in sourcing or procurement of raw materials for breakfast cereal and high procurement prices can hinder the breakfast cereal market growth, during the forecast period. Increasing demand for gluten-free products, coupled with rising commodity prices is further expected to obstruct the growth of the market.
By Product Type
By Distribution Channel
On the basis of product type, the global breakfast cereals are segmented as hot cereals and RTE cereals (ready-to-eat). RTE cereals segment is anticipated to hold the major market share in the global breakfast cereal market, owing to increasing demand for ready meals and on-the-go meals across developed as well as developing economies. Hot meals are anticipated to rise at a faster pace during the forecast years, due to increasing consumer inclination towards nutritional breakfast meal option.
On the basis of the distribution channels, the global breakfast cereal market has been segmented into specialty retailers, supermarkets/hypermarkets, online retail, convenience stores, and others. Supermarkets/hypermarkets segment presently holds the major market share in the global breakfast cereal market and it is anticipated to continue dominating the market during the forecast period. High consumer dependency on the aforementioned distribution channel for grocery shopping, coupled with rapid rise in number of supermarkets and hypermarkets across the globe is projected to influence the breakfast cereal industry positively during the forecast period.
North America is anticipated to hold the major market share in the global breakfast cereal market during the forecast period, due to growing health concerns among the American population, which is resulting in the shift of diet preferences and adoption of healthy diet. Increased demand for low-calorie or low-fat diet, due to rising incidences of cardiovascular diseases and diabetes across North American countries is further projected to boost the breakfast cereal market of the region. The market in Asia Pacific is projected to rise at a significant pace, owing to the rapidly rising population of the region, coupled with increased adoption of western lifestyle by the Asian population. The extensive promotional strategy adopted by breakfast cereal manufacturers and distributors across Asia Pacific is further expected to fuel the market growth in the forthcoming years.