Breakfast Cereals Market to Observe Fastest Growth in the Online Category

The breakfast cereals market was estimated to touch USD 38.3 billion in 2023, and it will touch USD 50.9 billion, propelling at a 4.2% compound annual growth rate, by 2030.

The growth of this industry is because of the surging acceptance of ready-to-eat products, because of the busy life of the working population. Moreover, the mounting urbanization rate, surging necessity for suitability, rising disposable income, developments in the chains of supermarkets/hypermarkets, and surging consciousness of a healthy breakfast.

In 2023, the ready-to-eat category, based on product, accounted for the larger share, and it will remain the larger in the years to come. Such options for breakfast are highly consumed as they contain high-value nutrition, as well as offer more convenience. The increasing population of young people who are living a fast lifestyle has resulted in the production of ready-to-eat cereals because they involve zero cooking.

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Furthermore, in emerging economies, the developments of supermarkets & hypermarket chains and the expansion of e-commerce are also helping in the progression of this category.

The hot cereals category will propel at a faster rate in the years to come. Such cereals, for instance, oats and muesli, are increasingly becoming prevalent among populations because they are also a healthy selection.

In 2023, the supermarkets & hypermarkets category, based on distribution channel, accounted for the largest breakfast cereals market share. This can be mainly attributed to the fact that most individuals visit such places to buy food or grocery goods.

The online category is likely to propel at the fastest rate in the years to come, primarily because of the surging attraction of the population to buy such products through online platforms. Moreover, the implementation of lockdown during the COVID-19 pandemic has led to the increasing utilization of online shopping of such products all over the world.

North America is leading the industry since the continent is the highest consumer of hot and ready-to-eat cereals. This can be mainly attributed to the mounting urban populace and the mounting count of corner stores or convenience stores.

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Moreover, an enormous number of the working population exists on this continent, which has led to a busy and fast life routine, ultimately resulting in the increasing utilization of breakfast cereals as they are less time-consuming and provide great nutrition.

APAC is likely to propel at the fastest rate in the years to come, mainly because of the surging consumption of processed food goods. Moreover, the food consumption habits of many people have significantly changed over the years as the occurrence of cholesterol, obesity, nutrient deficiency, and heart illnesses surge.

With the surging acceptance of ready-to-eat products all over the world, the breakfast cereals industry will continue to progress in the years to come.

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