Breakfast Cereals Market Demand will reach a value of US$ 180.3 billion by the year 2030 at a CAGR of 7.1%

The global breakfast cereals industry was estimated at $90.9 billion in 2020 and is expected to hit $180.3 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030.

Rise in number of health conscious consumers, increase in disposable income among individuals, and growing consumer demand for convenience food drive the growth of the global breakfast cereals market.

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Rise in number of health conscious consumers, increase in disposable income among individuals, and growing consumer demand for convenience food drive the growth of the global breakfast cereals market. On the other hand, availability of counterfeit products and potential threat of substitution impede the growth to some extent. However, rapid growth of online retail platform is expected to create lucrative opportunities in the industry.

The demand for breakfast cereals is expected to increase during the forecast period, owing to rise in consumer demand for convenience food providing several health benefits to consumers.

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Breakfast cereals are the type of breakfast food, which includes porridge, cornflakes, and oats. Expansion of distribution channels such as online stores, supermarkets, hypermarkets, and foodservice has made breakfast food easily available to customers, which, in turn, contributes toward the market growth. Moreover, ready-to-eat breakfast cereals is one of the new trends gaining high traction in the global breakfast cereals market.

Based on geography, North America held the major share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, at the same time, would cite the fastest CAGR of 9.7% by 2030. The other three provinces discussed in the report include Europe, and LAMEA.

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The key market players analyzed in the global global breakfast cereals market report include PepsiCo, Inc., Kellogg Co, Bagrrys India Ltd., Post holding Inc, Nature's Path Foods, Hamlyn's Of Scotland, General Mills, Bobs Red Mill Natural Foods Inc., B&G Foods Inc., and Marico Limited. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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