by The global Breakfast Cereals Market is estimated to be valued at US$ 51374.54 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Breakfast cereals are highly nutritious food products made from grains such as oats, wheat and corn. They are convenient, portable and provide energy, vitamins and minerals to start the day. Advantages such as ease of preparation and standardized nutritional value have increased their popularity globally.
Market key trends:
One of the major trends driving the growth of the breakfast cereals market is increasing demand for healthier and organic options. Consumers are shifting preference towards meals with fewer synthetic ingredients and added sugar. To capitalize on this demand, companies are introducing product lines focused on natural ingredients, whole grains, probiotics and high fiber content. For instance, Kellogg’s launched its new range of organic cereals made from ingredients like quinoa, amaranth and flaxseeds with no artificial colors, flavors or preservatives. Such trends are expected to support the market growth during the forecast period.
SWOT Analysis
Strength: The breakfast cereals market has a wide variety of products to choose from in terms of taste, nutrition, and convenience. Cereals provide health benefits like fiber, vitamins, and minerals.
Weakness: Cereals have high sugar content which can increase calorie intake and lead to obesity and diabetes. The market is also susceptible to price fluctuations of raw materials.
Opportunity: Rising health consciousness and shifting preferences towards healthy snacks and food items present an opportunity for cereal manufacturers to offer more nutritious cereals with fewer sugars and additives. The growing number of working women also increases the demand for convenient breakfast solutions.
Threats: Changes in dietary habits and increasing consumption of alternative breakfast items like bread, eggs, yogurt pose a threat to the cereal market. Stringent regulations surrounding health claims and product labeling can adversely impact cereal launches and innovations.
Key Takeaways
The Global Breakfast Cereals Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing health consciousness among consumers. With growing obesity and diabetes rates, people are shifting to healthy yet tasty breakfast options and cereals are well-positioned to cater to this demand.
Regional analysis
North America currently dominates the global breakfast cereals market, owing to widespread cereal consumption baked into daily diets. However, Asia Pacific is emerging as the fastest growing regional market due to rising disposable incomes, urbanization, and shifting lifestyles. Countries like China, India are expected to drive the future growth in the region.
Key players
Key players operating in the breakfast cereals market are Kellogg Co., General Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The Weetabix Food Company. Kellogg Co. and General Mills have the largest market share due to their well-known brands like Corn Flakes, Cheerios, Frosties, etc. and extensive distribution networks worldwide. These companies are focusing on innovative new product launches to attract more health-conscious consumers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
