Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 64.37 Billion in 2021 breakfast cereals market will reach USD 95.90 Billion by 2030. Breakfast cereals' economical, accessible, simple, and tasty nature might be key to market expansion. Rising consumer awareness of the health benefits of breakfast cereals will also contribute to market expansion. Introducing new cereal types with diverse flavours in varying sizes customized to the region/country's native taste would also help the market flourish.
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Key Insight of the Breakfast Cereals Market
North America emerged as the most significant market, with a 37.65% market revenue share in 2021.
North America dominated the market, with a market share of around 37.65% in 2021. Breakfast cereals are the traditional breakfast of Americans. It is quick, flavorful, inexpensive, nutritious, and easily available, contributing to its popularity in the fast-paced American lifestyle. The region's market participants offer a wide range of breakfast cereals that cater to every market audience.
The ready-to-eat cereals segment dominated the market, with a market share of around 74% in 2021.
In 2021, the ready-to-eat cereals segment led the market, accounting for about 74% of the market. Modern busy and stressful schedules have enhanced the popularity of ready-to-eat products since they are handy, quick, economical, and accessible. The increased popularity of ready-to-eat items will boost the segment's growth.
Over the forecast period, the oats segment is anticipated to grow at the highest CAGR of 6.29%.
The oats segment is predicted to increase at the fastest CAGR of 6.29% over the projection period. Oats are cereal grains made from the seeds of the grass family's Poaceae plant. Muesli is the most popular morning cereal due to its multiple benefits. Oats are strong in protein, carbohydrates, fibre, vitamins, amino acids, minerals, and antioxidants.
The supermarkets/hypermarkets segment dominated the market, with a market share of around 69% in 2021.
In 2021, the supermarkets/hypermarkets segment led the market, accounting for about 69% of the market. Supermarkets and hypermarkets are convenient places to shop for everyday necessities. They have a big selection of high-quality brands in their stores. Because of their broad retail chains, they are extensively distributed and have expanded into tier 1 and tier 2 cities, making them more accessible to consumers.
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Market Dynamics
Driver: The increasing popularity of breakfast cereals
The population's hectic schedules have increased the appeal of ready-to-eat items since they are convenient, quick, economical, and accessible, which benefits the breakfast cereals market. Even with tight schedules, people do not want to compromise on product quality and choose healthier options. Breakfast cereals are high in fibre and contain proteins, carbohydrates, vitamins, minerals, and other nutrients. They are satisfying, nutritious, lower disease risk, promote bodily health, increase metabolism, and provide daily energy. Breakfast cereals can also help with bone and nerve health.
Restraint: Market players face difficulty in procuring raw materials
Growth in the breakfast cereals market would be limited by supply chain bottlenecks, trade restrictions, wars, and other uncertainties that would make raw material acquisition difficult for market participants. Russia and Ukraine, for example, are the leading producers of barley, wheat, oats, and maize. However, the Russia-Ukraine conflict has made it harder for market participants to obtain surplus produce from these countries.
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Some of the major players operating in the breakfast cereals market are:
• Attune Foods LLC
• B&G Foods Inc.
• Bagrrys India Ltd.
• Bob’s Red Mill Natural Foods Inc.
• Generals Mills Inc.
• Kellogg Co.
• Marico Ltd.
• Nature’s Path Foods
• Nestle SA
• PepsiCo Inc.
Key Segments cover in the market:
By Product Type:
• Hot Cereals
• Ready-To-Eat Cereals
By Ingredient Type:
• Rice
• Oats
• Wheat
• Corn
• Barley
By Distribution Channel:
• Supermarkets/Hypermarkets
• Online
• Specialty Stores
• Convenience Stores
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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