The Global Breakfast Cereal Market size is expected to reach $50.3 billion by 2030, rising at a market growth of 4.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,100.2 kilo tonnes experiencing a growth of 4.1% (2019-2022).
According to the US Bureau of Labor Statistics, In September 2023, the total number of employments in the United States was 161,222,000. Families with working members may prioritize quick and easy breakfast options, and breakfast cereals fit this category. Consequently, the North America region would generate a revenue of 13,970.3 million by 2022. Moreover, cereal makers are also implementing innovative strategies to increase consumption in North America to maintain customer interest in the category. Some of the factors affecting the market are rise in the number of health-conscious consumers, growing consumer demand for convenience food, and availability of counterfeit products.
Health-conscious consumers often seek nutrient-dense foods. This has led to an increased demand for breakfast cereals strengthened with essential vitamins and minerals, providing a suitable way for individuals to meet their nutritional needs. Concerns about excessive sugar intake have led health-conscious consumers to seek cereals with reduced sugar content. These may include cereals with higher protein content or those marketed as part of a balanced diet for weight control. Thus, the above factors will expand market growth. Moreover, Convenience is a crucial driver for the popularity of breakfast cereals. They offer a quick and easy-to-prepare breakfast option, requiring minimal time and effort. Consumers can pour cereal into a bowl, add milk, and have a ready-to-eat meal. Modern lifestyles are often fast-paced, and many consumers, especially those with busy schedules, seek convenient meal options. Therefore, the aspects mentioned above are expected to drive market growth.
However, Counterfeit products may not adhere to the same quality and safety standards as genuine products. Consumers unknowingly purchasing counterfeit cereals may be exposed to health risks, as the ingredients, production processes, and storage conditions may not meet regulatory standards. These products can damage the reputation of well-established and trusted breakfast cereal brands. Consumers with a negative experience with counterfeit cereals may associate the inferior quality with the genuine brand, leading to a failure of trust and loyalty. Hence, the above aspects will hamper the market growth in the coming years.
Based on distribution channel, the market is fragmented into supermarkets, convenience stores, online, and others. In 2022, the supermarket segment held the highest revenue share in the market. Supermarkets and hypermarkets offer various breakfast cereals, including different brands, flavors, types, and formulations. Consumers can find traditional options and those catering to specific dietary requirements or choices, such as gluten-free, organic, or low-sugar cereals. Supermarkets frequently run promotions and discounts on breakfast cereals, especially during seasonal sales, back-to-school periods, or promotional events. These discounts may include buy-one-get-one-free offers, price reductions, or bundled deals.
On the basis of product type, the market is segmented into ready-to-eat and hot cereals. The hot cereals segment acquired a substantial revenue share in the market in 2022. Hot cereals are known for their nutritional value, providing vital nutrients such as fiber, vitamins, and minerals. Some hot cereals are enriched or fortified to enhance their nutritional content, appealing to consumers seeking a balanced and wholesome breakfast. The focus on whole grains and ancient grains has benefited hot cereals, as many varieties, particularly those made with oats, quinoa, and other grains, are perceived as nutritious and wholesome.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 36.9 Billion |
| Market size forecast in 2030 | USD 50.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4% from 2023 to 2030 |
| Number of Pages | 269 |
| Number of Tables | 510 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | Kellogg Company, General Mills Inc., Nestle S.A., PepsiCo, Inc., Archer Daniels Midland Company, B&G Foods, Inc., Bob's Red Mill Natural Foods, Inc., Post Holdings, Inc. (Attune Foods LLC), Alara Wholefoods Ltd., Bagrrys India Ltd. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region recorded a remarkable revenue share in the market in 2022. Increasing demand for processed foods in nations including Japan, China, and India, among others, propels the expansion of the industry substantially. Dietary patterns have evolved in response to the diverse array of health concerns that consumers encounter worldwide. The trend among individuals is to consume more nutritious foods. Consequently, breakfast cereal consumption is increasing worldwide.
Free Valuable Insights: Global Breakfast Cereal Market size to reach USD 50.3 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Kellogg Company, General Mills Inc., Nestle S.A., PepsiCo, Inc., Archer Daniels Midland Company, B&G Foods, Inc., Bob's Red Mill Natural Foods, Inc., Post Holdings, Inc. (Attune Foods LLC), Alara Wholefoods Ltd., Bagrrys India Ltd.
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $50.3 billion by 2030.
Rise in the number of health-conscious consumers are driving the Market in coming years, however, Availability of counterfeit products restraints the growth of the Market.
Kellogg Company, General Mills Inc., Nestle S.A., PepsiCo, Inc., Archer Daniels Midland Company, B&G Foods, Inc., Bob's Red Mill Natural Foods, Inc., Post Holdings, Inc. (Attune Foods LLC), Alara Wholefoods Ltd., Bagrrys India Ltd.
In the year 2022, the market attained a volume of 4,100.2 kilo tonnes experiencing a growth of 4.1% (2019-2022).
The Ready-to-Eat segment is leading the Market by Product Type in 2022 thereby, achieving a market value of $40.8 Billion by 2030.
The North America region dominated the Market by Region in 2022 thereby, achieving a market value of $18.3 Billion by 2030, growing at a CAGR of 3.5 % during the forecast period.
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