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Definition of Market/Industry:

Breakfast cereals are low calories diet that is produced from multiple grains such as oats, corn, and others. Breakfast cereals are light, easily digestible, have high fiber nutrients, and low calories content. They are almost ready to serve the meal with high nutritional value. Moreover, they are rich source of nutrition’s such as minerals, vitamins, and other nutritional content. Breakfast cereals help to re-energize the body by keeping it active for a longer time. They are available in different forms such as puffed, flaked, or shredded forms, and all act as a good source of fiber, iron, zinc, folic acid, vitamins. Ready-to-eat, whole-grain, and bran cereals are some of the types of breakfast cereals.

Market Statistics:

The global breakfast cereals market is expected to surpass US$ 62,204.02 Mn in terms of value by the end of 2028.

Drivers:

Advancement in the food retail infrastructure coupled with the growing awareness regarding the health benefits of cereals is expected to propel the market growth. A paradigm shift in the purchasing behavior of consumers across developing regions is also expected to accelerate the market growth of the breakfast cereals. Moreover, the easy availability of low-cost and nutritional cereals is further expected to augment the market growth of breakfast cereals.

Market Opportunities

Growing demand for on-the-go options of meals due to the hectic lifestyle of the consumer across developed and developing regions is expected to offer lucrative opportunities to the market. Factors such as easy to prepare, low cost, and various health benefits due to the presence of high nutritional value are expected to drive the demand for these food products. Moreover, these products have high-shelf life which is further expected to propel the market growth of breakfast cereals.

Global Breakfast Cereals Market: Recent Developments

  • In November 2019, Kellogg’s launched a new cereal, “HI! Happy Inside,” that consists of fibers, prebiotics, and probiotics and is specially designed to support digestive wellness. The expanding retail distribution channel is another factor expanding sales in rural and relatively small cities.
  • In May 2019, Nestle India launched breakfast cereals in India in line with its vision to introduce products rooted in nutrition and health. The consumer need for breakfast choices is growing, and companies need to bring more options to satisfy this need.

Market Restraints

Limited cultivation of palm oil which is one of the key ingredients used in the processing of cereals is expected to hinder the market growth. Limited availability of palm oil is creating challenges in the manufacturing of cereals. This factor is expected to restrict the market growth of the breakfast cereals.

Global Breakfast Cereals Market - Impact of Coronavirus (Covid-19) Pandemic

The market of breakfast cereals is slowly and gradually reaching its pre-COVID stage and is expected to witness a strong growth rate in the near future due to the revival of economic conditions. However, unprecedented conditions emerging owing to expected third and fourth waves are giving a gloomy outlook. 

Key Takeaways:

  • The global breakfast cereals market was valued at US$ 44,948.07 Mn in 2020 and is forecast to reach a value of US$ 62,204.02Mn by 2028 at a CAGR of 4.1% between 2021 and 2028.
  • The Ready-to-eat cereals in product type segment was valued US$ 36,637.35 Mn in 2020 and is expected to witness a CAGR of 3.5% over the forecast period. The breakfast cereals market is dominated by ready-to-eat cereals, which consist of wheat, corn and mixed grains and a few other supplements and come in the form of snacks, crunches and flakes etc.

Market Trends

Increasing demand for multi-grain cereal among consumers is expected to accelerate the market growth of the breakfast cereals. For instance, in July 2018, Nestlé India announces the launch of NESPLUS - a range of nutritious and delicious breakfast cereals. It is a combination of wholegrain and multigrain and aims to offer an array of healthy breakfast choices. Thus, the growing demand for multi-grain cereals is projected to augment market growth over the forecast period.

Rising cases of digestive health due to the sedentary lifestyle of the consumer is propelling demand for breakfast cereals that support digestive health will favor the market growth. For instance, in November 2018, Kellogg has introduced a new cereal called HI! Happy Inside featuring prebiotics, probiotics, and fiber that digestive wellness. Thus, growing breakfast cereal for specifically for digestive health is expected to augment the market growth.

Competitive Section:

Company Names 

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