IMARC Group, a leading market research company, has recently releases report titled “Breakfast Cereals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the breakfast cereals market share. The global market size reached US$ 105.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 147.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
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Factors Affecting the Growth of the Breakfast Cereals Industry:
Changing Lifestyles:
Modern lifestyles are increasingly hectic, with people often rushing to work or other commitments in the morning. Breakfast cereals offer a quick and convenient option for a nutritious breakfast. They require minimal preparation, allowing individuals to save time in the morning rush. As more people are migrating to urban areas, access to traditional breakfast options like freshly cooked meals is becoming limited. Cereals, which have a longer shelf life, are readily available in urban supermarkets and stores, making them a practical choice for urban dwellers.
Health and Nutrition Awareness:
Health-conscious consumers are increasingly looking for breakfast options that provide essential nutrients while keeping unhealthy ingredients to a minimum. Breakfast cereals are often fortified with vitamins, minerals, and fiber, making them an attractive choice for those seeking a balanced start to their day. Cereals made from whole grains are gaining traction due to their high fiber content and associated health benefits. Whole grain cereals are known to support heart health and digestive well-being, making them a preferred choice among nutrition-conscious individuals.
Product Innovation:
Key manufacturers are introducing new and unique flavors to appeal to consumer tastes. These innovative flavor profiles keep consumers engaged and interested in trying different cereal options. Innovations in texture and formulations are leading to the development of cereals with varying crunchiness, chewiness, or combinations of textures. This diversity caters to different preferences and enhances the overall eating experience. Cereal brands are incorporating innovative ingredients, such as superfoods, exotic fruits, nuts, and seeds, to add nutritional value and uniqueness to their products.
Key players operating in the Breakfast Cereals industry:
Bob’s Red Mill Natural Foods
Calbee Inc.
Carman's Fine Foods
Freedom Foods Group
General Mills Inc.
Kellogg Co.
Marico Ltd
Migros
Nestlé S.A
Post Holdings Inc.
Breakfast Cereals Market Report Segmentation:
By Type:
Ready-to-Eat
Hot Cereals
Ready-to-eat represented the largest segment due to its convenience and quick preparation.
By Nature:
Conventional
Organic
Conventional accounted for the largest market share on account of its affordability and widespread availability, appealing to a broad consumer base.
By Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
Supermarkets and hypermarkets exhibit clear dominance in the market as they offer one-stop shopping convenience, and the ability to cater to a wide range of consumer preferences.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the breakfast cereals market due to its long-standing tradition of cereal consumption.
Global Breakfast Cereals Market Trends:
Consumers are increasingly seeking healthier breakfast cereal options, leading to a rise in demand for products with reduced sugar, higher fiber, and added vitamins and minerals. The growing demand for specialized cereals to cater to specific dietary needs, such as gluten-free, vegan, and organic options, is offering a favorable market outlook.
Key manufacturers are introducing innovative flavors and ingredients, including superfoods, exotic fruits, and unique grains, to create exciting and unique cereal experiences.
Other Key Points Covered in the Report:
COVID-19 Impact
Porters Five Forces Analysis
Value Chain Analysis
Strategic Recommendations
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