Breakfast Cereals Market Increase Dietary Supplements and Food Alternative for Breakfast

According to Precision Business Insights (PBI), the latest report, the market value of the Breakfast Cereals Market size was valued at USD 46.2 billion in 2023 and is anticipated to reach USD 74.8 billion by 2023, growing at an 8.2% CAGR from 2024 to 2030. The primary factors that drive the market are the growing changes in dietary patterns and lifestyle, rising health consciousness, and increasing demand for a nutritional-rich diet.

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The Breakfast Cereals Market Detailed Segmentation
Based on the product type, the market is segmented into the following:
• Hot Cereals
• Ready to Eat (RTE) Cereals
Based on the ingredients, the market is segmented into the following:
• Wheat
• Cron
• Rice
• Barley
• Oats
Based on the distribution channel, the market is segmented into the following:
• Retail Stores
• Hypermarket/ Supermarket
• Online Stores
• Convenience Stores

Ready to Eat Cereals to Dominate the Breakfast Cereals Market:
Based on product type, ready-to-eat cereals hold the highest market share. Increasing food awareness and demand for nutritional rich breakfast escalate the market growth, the consumption of cereals observed more in western countries due to traditional adoption of packaged food items, changes in lifestyle and food habits are increasing across the world, people are shifting towards new dietary patterns where cereals are the best alternative for nutrition rich diet and is anticipated to dominate the breakfast food market in the upcoming years. Hence, this will drive the global market growth at a significant rate.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific Breakfast Cereals Market:
Asia Pacific region is expected to grow significantly in the global Breakfast Cereals Market size over the forecast period. It is attributed to the increasing number of malnutrition problems and lack of unavailability of protein alternatives escalate the market growth, also People are concerned about traditional food habits but it is predicted that work culture changes will lead to an increase in the demand for packaged food in the forecast years.

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STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
The Breakfast Cereals Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.
In December 2022, Kwality launched its Zero-Maida Breakfast Cereals at Rs 49 in 6 exciting variants, including Kwality Corn Flakes, Kwality Choco Flakes, Kwality Fruit Rings, Kwality Choco Fills, Kwality Muesli Crunchy Almond & Raisins, and Kwality Muesli Fruit n Nut.
In October 2022, Kellogg Co. launched new Nutri-Grain products including three new flavor mashups within its Nutri-Grain brand, including two new fruit and vegetable breakfast bars and new "Bites."
In September 2022, PepsiCo India launched Quaker Oats Muesli. The product comes in two variants - Fruit & Nut and Berries & Seeds

Key players' profiles in the Breakfast Cereals Market report are General Mills Inc., Kellogg's Co, Nestlé SA, Bob's Red Mill Natural Food, Nature's Path Foods, Hometown Food Company, Purely Elizabeth, The Quaker Oats Company, Barbara's Bakery, Northern Quinoa Production Corporation, Gluten-Free Prairie, and Avena Foods Limited

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This release was published on openPR.