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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Breakfast cereals are highly fortified food products that incorporate various nutritional values such as minerals, vitamins, iron, zinc, etc. Breakfast cereals are derived from different grains such as barley, wheat, rice, oat, corn, and others. These breakfast cereals are processed into flour, mixed with other ingredients, cooked, dried, and shaped into different size. They are available in different forms such as flaked, puffed, and shredded with an excellent source of fiber and minerals. Breakfast cereals are easily available across supermarkets and hypermarkets, departmental stores, pharmacy, convenience stores, and others.

The global breakfast cereals market is estimated to be valued at US$ 46,811.17 million in 2021 and is expected to exhibit a CAGR of 4.1 % over the forecast period (2021-2028).

Recent Developments:

  • In August 2020, Mondelez India entered the breakfast cereals space with the launch of Bournvita Fills. With this new launch, the company further expanded its product portfolio in the region.
  • In September 2020, Kellogg’s, in partnership with Blippar, launched the first web-based Augmented Reality promotional campaign in the Middle East, including the United Arab Emirates. Kellogg became the first brand in the GCC region to pioneer WebAR technology across a multi-channel marketing campaign for its Coco Pops cereal brand.

North America held dominant position in the global breakfast cereals market in 2020, accounting for 31.99% share in terms of value, followed by RoW and Europe, respectively.

Figure 1. Global Breakfast Cereals Market Value (US$ Mn), by Region, 2020

Breakfast Cereals  | Coherent Market Insights

Drivers:

Increasing number of convenience stores has raised the brand visibility which in turn has increased the sale of such food is expected to augment the market growth of the breakfast cereals. According to the Forbes, convenience store industry sales totaled $616.3 billion in 2017 in U.S. Rapid urbanization around the globe coupled with the changing consumer breakfast habits is also expected to augment the market growth of breakfast cereals.

Changing lifestyle and consumption pattern of consumers across the Asia Pacific region coupled with the increasing population is expected to drive the market growth. Growth in the middle-class population and development of the economy in the region is also contributing to the market growth of the breakfast cereals. According to the World Economic Forum, India's 80% of households in 2030 will be middle-income, up from about 50% from now. The middle class will drive 75% of consumer spending in 2030.

Market Opportunities

Rising demand for cereals bar among health-conscious consumers is expected to provide potential growth opportunities to the market of the breakfast cereals. For instance, in September 2018, Nestlé has expanded its snacks portfolio with the launch of new fruit and nut-based snacks brand Yes! The brand’s five cereal bar variants claim no added sugar or artificial additives. Thus, the growing demand for cereal bars is expected to accelerate market growth.

Increasing focus of manufacturers in attractive packaging and effective marketing strategies is projected to open up a new avenue to the market of breakfast cereals. Growing demand for cereals with no preservatives and sugar is further projected to augment the market growth of the breakfast cereals. Furthermore, the growing demand for organic and whole grain-based cereals is further expected to bolster the market growth. 

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Breakfast Cereals Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 46,811.17 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 4.1% 2028 Value Projection: US$ 62,204.02 Mn
Geographies covered:
  • Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • Product Type: Hot cereals and Ready-to-eat cereals
Companies covered:

Kellogg Co., General Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The Weetabix Food Company

Growth Drivers:
  • Rapid urbanization and changing consumption pattern of consumers
  • Increasing number of supermarkets & hypermarkets
Restraints & Challenges:
  • Availability of alternative food 

Market Trends

Growth in the infant food industry has elevated the breakfast cereal industry due to rising demand for convenient baby food which is accelerating the market growth. For instance, in May 2019, Nestlé has launched an organic product within its Ceregrow brand of cereals for children over the age of 12 months, produced from 100% organic ragi, wheat, milk, and rice. The product is processed at the company’s Samalkha factory in Haryana, using locally grown ingredients.

Acquisition and merger among manufacturer in the market is a major trend in the market and this is expected to propel the market growth of the breakfast cereal. For instance, in May 2018, Kellogg’s has acquired a stake in packaged food manufacturer Tolaram Africa Foods (TAF), – a subsidiary of Tolaram Group – for $420 million, in order to expand its presence in the African market.

Figure 2. Global Breakfast Cereals Market Share, By Product Type 2020

Breakfast Cereals  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Ready-to-eat cereals in product type segment held dominant position in the market and accounted for 81.51% share in the global breakfast cereals market in 2020. The segment is expected to reach US$ 48,330.88 million in 2028.
  • Ready-to-eat breakfast cereals dominate the whole market owing to the convenience solution it offers to the consumers. The market is mostly driven by consumers having busy lifestyles, as these are the processed grain formulations suitable for consumption without further cooking.

Market Restraints

The availability of a low-cost substitute for breakfast cereals is expected to limit market growth over the forecast period. Alternative food range includes smoothies, shakes, eggs, yogurt, fruits, and toast. Thus, the market of breakfast cereals is facing stiff competition from the traditional breakfast option.

Lack of awareness regarding the health benefits of breakfast cereals across rural areas of developing countries is expected to hamper market growth of the breakfast cereals over the forecast period.

Competitive Section:

  1. Kellogg Co.
  2. General Mills
  3. PepsiCo.
  4. Cereal Partners Worldwide (CPW)
  5. Post Holdings
  6. The Weetabix Food Company

Breakfast cereals are a type of grain product used to satisfy one's appetite for food during the late evening and early morning. Cereal, technically pronounced chee-sorel, is a classic breakfast food made of cooked dried cereal grains. It's traditionally eaten as a light snack food, or part of a hearty breakfast, usually in Western cultures. Though breakfast cereals are available in a wide variety of flavors and ingredients, the most popular types are wheat, corn, oat, cornmeal, and soy.

Market Dynamics:

Rapid urbanization and changing lifestyle of consumer is driving growth of the breakfast cereals. Moreover, continuous launch of new and variety in product is again fostering growth of the market. For instance, in August 2021, Kellogg Company expanded its product portfolio in India adding the Froot Loops brand of cereals in the country. Froot Loops is among the fastest growing cereal brands globally and has been introduced in the Indian market based on strong consumer insights.

On the other hand, availability of alternate food range for breakfast is expected to restrict growth of the market

Key features of the study:

  • This report provides in-depth analysis of the breakfast cereals market, and provides market size (US$ Million & Mn Kg) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global breakfast cereals market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Kellogg Co., General Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The Weetabix Food Company
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global breakfast cereals market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global breakfast cereals market

Detailed Segmentation:

  • Global Breakfast Cereals Market, By Product Type:
    • Hot cereals
    • Ready-to-eat cereals
  • Global Breakfast Cereals Market, By Region:
    • North America
      • By Product Type
        • Hot Cereals
        • Ready-to-eat Cereals
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Product Type
        • Hot Cereals
        • Ready-to-eat Cereals
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Hot Cereals
        • Ready-to-eat Cereals
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Hot Cereals
        • Ready-to-eat Cereals
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type
        • Hot Cereals
        • Ready-to-eat Cereals
      • By Region
        • Middle East
        • Africa

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Breakfast Cereals Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Breakfast Cereals Market – COVID-19
    • Impact Analysis
  5. Global Breakfast Cereals Market, By Product Type, 2017- 2028 (US$ Mn & Million Kg)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Hot Cereals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Million Kg)
    • Ready-to-eat Cereals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Million Kg)
  6. Global Breakfast Cereals Market, By Region, 2017- 2028 (US$ Mn & Million Kg)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Kellogg Co.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • General Mills
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • PepsiCo.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cereal Partners Worldwide (CPW)
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Post Holdings
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Weetabix Food Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Breakfast Cereals Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The breakfast cereals market size is estimated to be valued at US$ 46,811.17 Million in 2021 and is expected to exhibit a CAGR of 4.1% between 2021 and 2028.
Changing lifestyle and rise in supermarkets are key factor driving growth of market.
The Ready-to-eat cereals in product type segment is the leading segment in the market.
Availability of alternative food range and lack of awareness regarding health benefits of cereal among consumers is expected to hinder growth of the market.
Major players operating in the market include, Kellogg Co., General Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The Weetabix Food Company
North America region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by the rising demand for innovations in the tastes and ingredients.
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