Breakfast Cereal Market to Surpass 50.62 Billion by 2030 Drives Due to Surging Demand for Increasing Popularity of Ready-To-Eat Food
SkyQuest projects that the breakfast cereal market will attain a value of USD 50.62 billion by 2030, with a CAGR of 3.7% over the forecast period (2023-2030). The global consumption of breakfast cereals has been on a steady rise, driven by the increasing popularity of ready-to-eat foods in the breakfast cereal market. This trend is closely linked to the fast-paced lifestyles of the working population, who often find themselves pressed for time in the mornings.
Westford,USA, Oct. 20, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, cereals and snack bars, packed with essential nutrients, are becoming the go-to choices for these health-conscious consumers. The breakfast cereal market is poised for sustained expansion as this demand for nutritious and convenient breakfast solutions grows.
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- Pages – 260
- Tables – 63
- Figures – 76
The global breakfast cereal market is experiencing a notable shift in consumer preferences, with a strong inclination towards nutritious and convenient breakfast options. This shift can be attributed to the increasing global awareness of health and well-being. Customers are now actively seeking quick, nutritious breakfast choices that align with their health-conscious lifestyles.
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Prominent Players in Breakfast Cereal Market
- Kellogg Company
- General Mills, Inc.
- PepsiCo, Inc.
- Nestle S.A.
- Post Holdings, Inc.
- Cereal Partners Worldwide (CPW)
- Quaker Oats Company (PepsiCo, Inc.)
- Weetabix Limited (Post Holdings, Inc.)
- The Jordans & Ryvita Company
- Associated British Foods plc
- Grupo Bimbo S.A.B. de C.V.
- TreeHouse Foods, Inc.
- The Hain Celestial Group, Inc.
- MOM Brands Company
- The Kellogg Company of Canada
- Sanitarium Health and Wellbeing Company
- Carman’s Fine Foods Pty Ltd.
- The Jordans Company Limited
- Hero Group
- Dr. August Oetker KG
- Seven Sundays LLC
Ready-to-Eat (RTE) Segment is Expected to Grow the Market Due to their Nutritional Value
Ready-to-eat (RTE) segment emerged as the dominant force in the breakfast cereal market. Ready-to-eat foods have become a staple choice for breakfast among a vast portion of the population, primarily due to their practicality and nutritional value.
The market in North America asserted its dominance with the highest breakfast cereal market share. The region boasts the world’s highest penetration rate, and its residents exhibit a notably higher per capita consumption of hot and ready-to-eat cereal varieties.
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Hot Cereal Segment is Expected to Dominate the Market Due to the Burgeoning Economies of Asia
Hot cereal sector is poised for remarkable growth, with the fastest CAGR in the breakfast cereal market projected over the entire forecasted period. This expansion is primarily driven by Asia’s burgeoning economies, with India emerging as a prominent market player. As hot cereals such as oats and muesli gain increasing popularity in this region, manufacturers are proactively responding to this trend by introducing a range of savory options that delight the taste buds and align with health-conscious consumer preferences.
Regional markets in the Asia Pacific are poised to undergo the most rapid CAGR in the breakfast cereal market. This remarkable growth can be attributed to the surging demand for processed foods in countries such as Japan, China, India and several others within the region. These countries are witnessing a shift in dietary preferences as consumers seek convenient and nutritious options.
A comprehensive analysis of the major players in the breakfast cereal market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Breakfast Cereal market
- In 2023, PepsiCo made an exciting announcement regarding releasing an enhanced version of Pepsi Zero Sugar, promising an exceptionally delightful flavor experience. With this launch, the brand aimed to convince consumers that zero sugar can be truly delicious. To encourage people to taste and try this new offering, PepsiCo initiated a campaign where consumers could redeem up to 10 million FREE bottles of Pepsi Zero Sugar. This promotion coincided with the NFL postseason and extended through the Super Bowl, creating significant buzz around the product.
- In 2022, Post Holdings, Inc. unveiled plans to invest a substantial sum of up to US$110 million in expanding the production capacity of its Post Consumer Brands division. This strategic move highlighted the company’s commitment to meeting the growing demand for cereal products, reflecting the industry’s recognition of cereal’s enduring popularity among consumers.
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Key Questions Answered in Breakfast Cereal market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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