Breakfast Cereals Market is Estimated to Grow at a Promisable CAGR 4.2% During Forecast Period, 2022-2028, a Recent Study By The Insight Partners

According to "The Insight Partners" latest market study on "The global Breakfast Cereals Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type (Ready to Eat and Ready to Cook), Category (Organic and Conventional), Type (Low Sugar and Regular), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)," the global breakfast cereals market is projected to reach US$ 57,482.17 million by 2028 from US$ 44,831.48 million in 2022. It is expected to grow at a CAGR of 4.2% during 2022-2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Furthermore, expanding retail distribution channels is another factor behind the rising sales of breakfast cereals in rural and tier-II cities. For instance, with the continuous economic growth of China, the purchasing power of consumers has increased. These consumers are willing to pay more for high-quality products which contain organic ingredients. Many market players, such as Bailian, China Resources Vanguard, and Walmart, have attempted to expand their presence and become market leaders by setting up high-end supermarkets. Therefore, the high-end supermarket sector shows considerable promise as the number of consumers with strong purchasing power is growing.

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The demand for breakfast cereals is significantly rising due to the convenience they offer to consumers. The market is driven by the rising number of consumers with a busy lifestyle and no time to involve in long cooking processes. These products are mostly available in supermarkets, hypermarkets, and convenience stores, which constitute a significant market share in the distribution channel segment.

The Kellogg Company; WEETABIX; Bob's Red Mill Natural Foods; General Mills Inc.; Nestlé SA; Nature's Path Foods; The Quaker Oats Company; Carman's Fine Foods Pty Ltd.; Calbee, Inc.; and Guilin Seamild Foods Co Ltd. are the key players operating in the global breakfast cereals market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.

Impact of COVID-19 Pandemic on Breakfast Cereals Market

The COVID-19 pandemic had initially affected the global breakfast cereals market due to the shutdown of manufacturing units, rising prices of raw materials, shortage of labor, disruption of supply chains, and financial instability.

Breakfast cereals are part of the food & beverages industry. The industry's disruption due to the economic slowdown caused by the COVID-19 outbreak had restrained the demand for breakfast cereals. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation, leading to the rise in business activities worldwide. The pandemic has also collaterally resulted in the growth of the food & beverages industry post recovery from the production disruptions. The increased purchasing of packaged food and beverages has eventually aided the breakfast cereals market post the pandemic outbreak.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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