On-the-go breakfast products are the most convenient food products that do not require any preparation. They are classified into ready-to-eat food products and contain healthy fats, a high amount of proteins, and other nutritional values. On-the-go breakfast products are categorized on the basis of type into breakfast cereals and dairy based breakfast drinks. These food products are highly popular among the working population and are easily available across Hypermarket/Supermarket, Retail Stores, Convenience Stores, and Online stores.
The global on-the-go breakfast products market is estimated to account for slightly less than US$ 1.3 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 4.3% during the forecast period (2019-2027)
Rising urbanization and increase in purchasing power are encouraging customers to spend more on prepared and ready-to-eat foods, as ready-to-eat food saves consumers and this factor is expected to propel the market growth of on-the-go breakfast products. Moreover, rising expenditure on ready-to-eat meals by the manufacture is another major factor augmenting the growth of the global on-the-go breakfast product market.
Various on-the-go breakfast food players are conducting consumer education campaigns to spread awareness regarding the importance of eating healthy breakfast and food is projected to provide a lucrative opportunity for the market of on-the-go breakfast. Moreover, companies are also conducting promotional activities and advertisement to promote their product offerings which are further expected to propel market growth. For instance, in July 2016, Kellogg NA Co. introduced a scheme for specialty retail channel in the U.K., through which consumers get a collectible breakfast pot upon purchasing two packs of Kellogg’s cereal. The breakfast pots offered through the scheme are reusable and are ideal for children and adults to eat on the go.
Lack of awareness regarding the on-the-go breakfast product among people across developing areas is expected to restraint the market growth. Moreover, lack of focus of manufacturer operating in these regions on branding and promotional activities coupled with low product visibility across retail channels are some of the other major factors projected to hinder the market growth of on-the-go breakfast products over the forecast period.
On the basis of product type, the breakfast cereals segment has dominated the global on-the-go breakfast products market in 2018 with a 70.2% of market share in terms of value, followed by dairy based breakfast cereal.
Rising focus of manufacturer to launch variety in “on-the-go line of cereal” subjected to the growing population of the busy consumer is expected to propel the market growth of on-the-go breakfast. For instance, in August 2018, Nestlé Cereals has launched its new breakfast to go range, it is the first packaged cereal and milk solution in the UK. The products come in a choice of two bowls of cereal: Shreddies or Shredded Wheat Honey & Nut. Containing a pot of cereal, milk and a spoon, the range is designed to be a simple and convenient way for consumers to enjoy some of their favorite cereals at work.
The growing trend of adopting smart strategies such as partnership &collaboration among major players is foreseen to accelerate the market growth of on-the-go breakfast. For instance, in August 2019, Dunkin enter into a partnership with Beyond Meat to launch plant-based meat the alternative at certain locations in New York. The launch makes Dunkin' the first U.S. restaurant brand to "Go Beyond" traditional on-the-go breakfast choices by serving Beyond Breakfast Sausage
Key players operating in global on-the-go breakfast products market are Quaker Oats Company, Kellogg Co., General Mills Inc., MOMA, Uncle Toby’s, Bagrry’s India Ltd., Sanitarium, Anchor, Weetabix Ltd., and Nestle S.A.
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