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The global on-the-go breakfast products market is witnessing robust growth due to the rising demand for convenience food products. On-the-go breakfast products serve small proportions of food that can be consumed on the move. In recent years, consumer dietary preferences have significantly evolved due to the increasing intrest in various cuisines and adoption of experimental food choices. Food products that have convenient and instant preparation methods are gaining popularity due to the modern day hectic schedules of consumers. The quick, snack-sized instant breakfast options let consumers ensure that they do not skip the most important meal of the day.
Consumers nowadays look for innovative and nutritious appetizers in their routine, which has necessitated the manufacturers to capitalize on novel on-the-go products in the market. The increasing investments by manufacturers to develop innovative breakfast options further contribute to the growth of the market. The utilization of organic and clean-label ingredients in these breakfast products is expected to attract wider consumer base due to the growing demand for label-friendly products. Manufacturers are intensively focusing on the increased concerns of consumers over their digestive health which has led manufacturers to invest in their portfolio expansion with products that contain prebiotic and prebiotic ingredients. Rapidly developing distribution channel across the globe further fuels the growth of the market.
The rising popularity of convenience products among consumers primarily drives the growth of the market.. Globalization, growing millennial population, and hectic lifestyle are the few factors that fuel the demand for convenience food products. These products are also gaining popularity owing to their portability, and instant preparation. On-the-go breakfast products are now emerging as mainstream products due to the increasing number of individuals entering into formal workforce and adopting busy schedules. The increasing innovation and product development activities by key players are further boosting the growth of the market. For example, in September 2018, premium granola brand Lizi’s launched a nutritious breakfast drink aimed at active consumers thar are looking for a healthier on-the-go breakfast option.
Key Market Driver -
Increasing Popularity of Convenience Foods
Key Market Restraint -
Negative Health Impact Associated with On-the-go Breakfast Products
Packaged foods contain additives such as preservatives and flavour enhancers that help increase the shelf life and improve product taste and appearance. Packaged foods are perceived to be unhealthier as compared to the fresh preparations. There is a rising awareness of the negative health impacts such as risk of obesity, hypertension and elevated cholesterol caused by the exsessive consumption of sodium, sugar, & saturated fats among consumers. The growing concerns about negative health effects caused by the consumption of packaged foods among consumers hampers the growth of the market.
Kelogg Company, Nestle S.A., General Mills, Inc., Post Holdings, Inc., The Quaker Oats Comapany, The Hain Celestial Group, Inc., Danone S.A., Mondelez International, Inc., and Baggry’s India Ltd. are the key players operating in the global on-the-go breakfast products market.
Cereal-based products such as on-the-go breakfast cereals and cereal bars are mainstream products in developed markets of North America and Europe due to the rising trend of healthy breakfast in the region. Bakery products such as breakfast cookies, sandwitches, bagels and burgers are also gaining popularity in developing markets due to the rapid adoption of western diets in the regions. The key companies are focused on introducing innovative products to capitalize on the growing demand for on-the-go breakfast options, which is promoting the overall market across the world.
Supermarkets/ Hypermarkets are projected to witness robust growth owing to the offerings of wide variety of products and purchase convenience under a single roof. Specific aisles are allocated for products in such stores providing a plethora of options to consumers. The discounts and offers launched by these mass merchandisers to attract the consumers are also expected to boost their sales performance. Online retail is an emerging sector and expected to exhibit promising growth in foreseeable years on account of the easy purchase and home delivery options.
North America is expected to exhibit strong growth owing to busy work schedules and hectic lifestyles of individuals. The emerging trend of healthy snacking in the region is driving the demand for healthy breakfast options that can be consumed on-the-go. The manufacturers are launching novel products to meet the growing demand for healthy, convenient breakfast options. For instance, in July 2019, General Mills partnered with Goodbelly, a leading manufacturer of probiotics, to launch probiotic-infused breakfast cereals in the U.S. The introduction of such products in the market has contributed to the expansion of healthy & convenient breakfast products, which further aids the market growth.
Europe is projected to witness substantial growth owing to the increasing innovations and product developments in on-the-go breakfast space. The increasing demand for clean-label products is driving the development of additive-free, organic, non-GMO on-the-go breakfast products. The growing inclination towards convenience food products is fuelling the growth of the on-the-go breakfast products market. The prominent players are focusing on portfolio expansion by launching new portable breakfast products to fulfil the increasing demand for on-the-go breakfast in the region.
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Asia Pacific is projected to exhibit promising growth owing to the increasing population entering in formal workforce & adopting busy lifestyles. The rising millennial population are adopting westernized snacking culture to save their time and opting for on-the-go breakfast products in the market. The manufacturers are also reinforcing their distribution capabilities to meet the growing demand for on-the-go breakfast products in the region, which is contributing to the overall growth of the market..
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