The Global On the go Breakfast Market was estimated at US$ 1,404.0 Million in 2016 projecting a CAGR of 5.17% during the forecast period from 2017-2025. On the go breakfast is instant and convenient breakfast that require less or no processing or cooking. They have convenient packing, which can be easily carried and consumed while travelling. Fast paced lifestyle of the consumers coupled with increasing population of working women in emerging economies are some of the key factors for high demand of on the go breakfast products.
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Key Trends and Analysis of the on the go breakfast market:
- Among product type, breakfast cereals is the largest segment in on the go breakfast market, as it is available in various types and flavors. These cereals are good sources of fibers, vitamins, and minerals containing low sugar, salt, and fat content. It is the dominant segment due to the nutritional benefits and ease of consuming the cereals.
- Among distribution channel, online channel segment is the fastest growing segment due to increasing use of digital technology and smart phones. However, supermarkets and hypermarkets segment account for largest market share, as it is commonly preferred by the consumers.
- Increasing demand for food items that contain high fiber and protein among the consumers is another factor that has led to significant rise in demand for on the go breakfast products
Key takeaways of the market:
- Europe is the largest market for on the go breakfast market along with Germany, France and U.K. being the major contributors to the growth of Increasing number of working population coupled with high purchasing power of the consumers is one of the major factors pushing the demand for on the go breakfast products in Europe.
- North America is a highly lucrative market for on the go breakfast products, owing to the high adoption rate of products among the consumers. Further, due to heavy working hours and lack of time for cooking a proper meal consumers prefer food items that are instant as well as healthy to eat, which in turn has paved the way for on the go breakfast products.
- Asia Pacific, however is projected to be the fastest growing market for on the go breakfast products on account of changing food habits of the consumers, rapid retail penetration, and rising purchasing power of the consumers. Several manufacturers are looking to penetrate economies such as India, China, and Japan for expansion of opportunities. Emergence of local players operating this field is another major factor, which is expected push the demand for on the go breakfast products in Asia Pacific in the future. Latin America is expected to exhibit a steady growth for this market with Brazil, Argentina, and Mexico as the leading contributors for the growth of this market.
- However, the market penetration for on the go breakfast products in Middle East and Africa is low at present, due to less manufacturers operating this field and lower adoption rate.
Alara Wholefoods Ltd., Amy’s Kitchen, Baggry’s, Country Choice, General Mills, Kelloggs, MOMA, Nature’s Path, Nestle, Sanitarium, Raisio, Uncle Tobys, and Quaker Oats Company are some of the major players operating the on the go breakfast products market. Some of the major strategies adopted by these players include product and packaging innovation, merger and acquisitions, and various others.