Breakfast Food Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Breakfast Food Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The breakfast food market size has grown strongly in recent years. It will grow from $431.68 billion in 2023 to $457.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increasing production staples such as cereals, eggs, and dairy products, increasing disposable incomes, spread of American-style breakfast, need for quick and convenient breakfast, and increasing working population.

The breakfast food market size is expected to see strong growth in the next few years. It will grow to $584.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growing consumer awareness, environmental sustainability, catering to vegan and vegetarian preferences, increasing preferences for ready-to-eat meals, and rise in net sales of breakfast food. Major trends in the forecast period include plant-based and alternative protein sources, launching new products with additional nutrients, variety of brands in the breakfast food, launch frozen and ready-to-eat alternatives, and instant breakfast cereals.

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Market Drivers and Trends:

The rising demand for convenience foods is expected to propel the growth of the breakfast food market going forward. Convenience foods are commercially prepared for easy consumption, often requiring minimal or no preparation. Increasing demand for convenience foods can be attributed to factors such as increased interest in health, increased disposable incomes, and growing demand for ready-to-eat meals. Breakfast foods play a crucial role in the convenience food market by offering quick, easy, and nutritious options that cater to the fast-paced lifestyles of modern consumers. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, the total value of US processed food products exported from the country increased to $36.59 billion in 2023, an increase of 1.7% compared to previous years. Therefore, the rise in demand for convenience foods drives the breakfast food market.

Major companies operating in the breakfast food market are developing innovative breakfast options such as millet and jowar-based breakfasts such as munch breakfast cereal to cater to health-conscious consumers seeking nutritious alternatives to traditional breakfast foods. The munch breakfast cereal is an innovation for an optional breakfast option made with millet and jowar along with existing ingredients such as rice and wheat, making it a healthier choice for breakfast. For instance, in June 2023, Nestle, a Switzerland-based food company, launched KOKO KRUNCH Millet-Jowar and MUNCH breakfast cereals. The addition of jowar, a nutritious millet, aims to provide more variety and appeal to health-conscious Indian consumers. MUNCH is made with three grains, such as whole grain wheat flour, rice, and corn, to provide a delicious, crunchy.

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Major Key Players of the Market:

Nestle S.A., PepsiCo Inc., Unilever PLC, Starbucks Coffee Company, The Kraft Heinz Company, General Mills Inc., Associated British Foods (ABF) PLC, The Kellogg Company, Hormel Foods Corporation, Conagra Brands Inc., Campbell Soup Company, Del Monte Food Inc., Dr. Oetker, Britannia Inc., The Hain Celestial Group, Kodiak Cakes, Beyond Meat, Impossible Foods Inc., Eat Just Inc., Annie's Homegrown

Breakfast Food Market 2024 Key Insights:

• The breakfast food market size is expected to see strong growth in the next few years. It will grow to $584.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• The Convenience Food Boom Driving the Growth of the Breakfast Food Market
• Nestle Introduces Millet And Jowar-Based Breakfast Cereals To Meet Growing Demand For Healthier Options
• North America was the largest region in the breakfast food market in 2023

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