Press release
Breakfast Cereal Market Was Predicted to Reach USD 65.6 billion by 2028, growing at a CAGR of 4.8% in 2027 | Size, Share & Report Forecast
Breakfast Cereal Market
The Breakfast Cereal Market was estimated around USD 45.1 billion in 2020 and is expected to reach USD 65.6 billion by 2028, growing at a CAGR of 4.8% over the forecast period (2021-2028).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-breakfast-cereal-market/
The factors driving the growth of Breakfast Cereal Market includes growing demand for ready-to-eat food products, rising influence of western culture around the world, increase in the working population, changing eating habits of consumers and improvements in the living standards. According to the report published by Statista, the more than 522 million people in India were calculated to be employed across India in 2022, this figure is expected to reach 569 million by the end of Financial Year 2030, which will accelerate the Breakfast Cereal Market share in the approaching years. Moreover, easy availability of breakfast cereal products at supermarkets and online stores, growing awareness about the health benefits of breakfast products, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Global Breakfast Cereal Market. In addition, the increasing investments by leading players on research and development, growing demand for nutritional food products, expansion of the e-commerce platforms and rising population growth rates, are further contributing towards the market growth.
However, growth of the Breakfast Cereal Market is hindered due to increasing availability of substitute products.
The leading players operating in the market are Marico Limited, Bagrrys India Ltd., B&G Foods Inc., General Mills, Kellogg Company, Nestle S.A., Attune Foods LLC, PepsiCo Inc., Alara Whole Foods Ltd., and McKee Foods Corporation, among others.
Based on Product, the Ready to Eat Cereal segment is predicted to capture the largest market share during the forecast period
Increasing demand for instant food items and rise in the launch of innovative flavors, are pushing growth of the segment.
Based on Distribution Channel, the E-Commerce segment is projected to grow at a significant CAGR over the forecast period
E-commerce platforms are open 24*7, offers attractive discount offers along with rising internet penetration rates and growing trend of online shopping, are some of the factors propelling segment's growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Rising awareness about the nutritious benefits of breakfast cereals, increase in working population across India, China and Indonesia, rapid urbanization, growing adoption of advanced technologies by manufacturers and high population growth rates, are some of the important factors augmenting the Breakfast Cereal Market size in Asia-Pacific region.
Key Development
In 2020, General Mills introduced three new breakfast cereals i.e., Minions Vanilla Vibe, Lucky Charms Honey Clovers, and Cocoa Puffs Brownie Crunch across the globe. This expansion will help the company to cater increasing consumer demand for breakfast cereals.
Market Segmentation
Segmentation by Product
Hot Cereal
Ready to Eat Cereal
Segmentation by Distribution Channel
Supermarket
Convenience Stores
E-Commerce
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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