Breakfast Cereals Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Hot Cereal, Ready To Eat Cereals), By Product (Corn Based Breakfast Cereals, Others) By Distribution Channel (Online, Offline (Supermarkets, Convenience Stores, Others)), And By Geography - Forecasts From 2022 To 2027

Published:  Sep 2022 Report Code: KSI061613502 Pages: 124

The breakfast cereals market is estimated to grow at a CAGR of 4.46% to reach a market size of US$34.980 billion in 2027 from US$25.765 billion in 2020.

Breakfast cereals are breakfast foods that are made from processed cereal grains, primarily in Western societies. Changing food habits coupled with the rising western influence in the Asia Pacific region is expected to drive the growth of the market during the forecast period. Growing consumer awareness regarding the health benefits of grain-based breakfast is also augmenting the growth of the market. However, the availability of a substitute in the form of a traditional form of breakfast is anticipated to hinder the growth of the market in the coming years.

Expanding retail businesses like convenience stores

Over the past few years, convenience and department stores with supermarkets have witnessed an increase in sales. Established on the evolution of continence and other retail businesses in various parts of the world, the development and growth of convenience stores are directly related to economic growth and the speed of urbanization. Due to various factors, such as unbalanced industry and regional economic development in various parts of the world, most convenience stores have limited their operations to developing and expanding cities.

The  availability of substitutes is a form of the traditional form of breakfast, which is restraining the growth of the market

There is a presence of substitutes that can be used in place of breakfast cereals depending on the demographic dividend. In addition, the cost of breakfast cereals is relatively higher than the other substitutes, which is attributable to the seasonal harvesting period and the capital-intensive process requirements while producing these cereals.

Increasing household expenditure in developing countries

 It is regarded as one of the primary drivers of market growth during the forecast period. Household spending in China and Brazil increased from the US $5.640 billion and the US $1.850 billion in 2012 to nearly US $9.809 billion and the US $2.1 billion by the end of 2018. Both public and private players are investing heavily in developing countries to cater to the growing demand for breakfast cereals on account of rapid urbanization and growing health awareness.

North America holds a significant share of the market

By geography, the breakfast cereals market is segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The North American market is expected to hold a significant share of the market owing to the presence of major players coupled with the growing number of product launches in countries like the United States and Canada. In the Asia Pacific region, due to changes in breakfast consumption patterns in the last couple of years and rising western influence in countries like China and India, the market is expected to witness substantial growth over the forecast period. Besides, growing consumer awareness regarding the health benefits of cereals in the morning coupled with the product development of high fibre and multigrain breakfast cereal has also triggered market growth opportunities in the region in the coming years. In addition, rising disposable incomes and living standards are encouraging Chinese and Indians to adopt the Western lifestyle. Growing demand for ready-to-make and ready-to-eat breakfast food and beverage products is augmenting the demand for breakfast cereals across the region. Furthermore, the rising number of supermarket chains and grocery stores in Mexico also contributes to the growth of the maple syrup market by making it easily available to Mexican consumers. According to the National Association of Retailers (ANTAD), there were more than 2,658 store openings, of which 85 percent were specialized stores, 10 percent were supermarkets, and 4 percent were department stores. In 2018, Walmart announced the acquisition of Cornershop, Inc., a leading online marketplace for on-demand delivery from supermarkets and speciality food retailers in Mexico and Chile, to accelerate its growth in Latin America.

Competitive Insights

Prominent key market players in the Indian breakfast cereals market include General Mills, Nestle S.A., Attune Foods, Kellogg Company, POST HOLDINGS, INC, and B&G Foods Inc. among others. There is intense competition; different companies are adopting different strategies to improve their margins over competitors. Big market players look for strategic partnerships, including mergers and acquisitions and joint ventures, to boost their market share. Also, market players are tapering down their strategies to specific regional markets and are focusing on various country-specific breakfast habits to target the customer base and promote their brand. In addition, market players are investing heavily in research and development and product launch of innovative, fruit-flavoured, and high-fibre breakfast cereals in the market.

Recent Development and expansions

  • Froot loops, a multigrain cereal derived from corn, wheat, and oats, was introduced by Kellogg's in August 2021. These businesses are also encouraging the consumption of cereals for purposes other than breakfast. K Energy Bars from Kellogg's and Ragi Bites Snacks from Tata Soulfull are new products.
  • Tata Consumers announced plans to buy producers of soulful cereals in February 2021. The Soulfull product line is getting new branding from Tata Consumer Products Ltd. that incorporates the Tata logo—Tata Soulful.
  • The launch of Parle Agro's new product, Hide & Seek Fills, in September 2021 marked the company's entry into the breakfast cereal market. The company wants to make wholesome cereals and expand its line of goods to appeal to customers of all ages. 
  • The very first Middle East augmented reality web-based commercial campaign, featuring the United Arab Emirates, was launched by Kellogg's and Blippar in September 2020. For its Coco Pops cereal brand, Kellogg will be the first company in the GCC to use WebAR technology in a multi-channel marketing campaign.
  • The launch of Bournvita Fills by Mondelez India in August 2020 marked the company's entry into the breakfast cereal sector. The business has widened its product offering in the area with this new launch.

COVID-19 Impact on Breakfast Cereals Market

Consumer demand increased as a result of the COVID-19 lockdowns, which led to an increase in breakfast consumption at home and the comeback of breakfast cereals. When it comes to morning cereals, customers still put taste first, but since the epidemic, they have begun to place higher importance on health. Due to the outbreak, which has kept everyone inside their houses, people have started eating cereal again. It is anticipated that the habits formed during the epidemic would last, with a renewed focus on eating healthfully at home and playing a crucial role in market expansion. Due to consumer demand for dependable, satisfying products with a long shelf life during the COVID-19 pandemic, the ready-to-eat industry has seen growth.

Breakfast Cereals Market Scope:

Report Metric Details
 Market Size Value in 2020  US$25.765 billion
 Market Size Value in 2027  US$34.980 billion
 Growth Rate  CAGR of 4.46% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Type, Product, Distribution Channel, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered General Mills, Nestle S.A., Attune Foods, Kellogg Company, Dr. Oetker, Freedom Foods Group, Carman's Fine Foods, Food for Life Baking Co. Inc., POST HOLDINGS, INC, B&G Foods Inc.
 Customization Scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Hot cereals
    • Ready-to-eat cereals
  • By Product
    • Corn-based breakfast cereals
    • Others
  • By Distribution Channel
    • Online
    • Offline
      • Supermarkets
      • Convenience stores
      • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the breakfast cereals market?
A1. Breakfast Cereals Market was valued at US$25.765 billion in 2020.


Q2. What are the growth prospects for the breakfast cereals market?
A2. The global breakfast cereals market is estimated to grow at a CAGR of 4.46% over the forecast period.


Q3. What factors are anticipated to drive the breakfast cereals market growth?
A3. Growing consumer awareness regarding the health benefits of grain-based breakfast is augmenting the breakfast cereals market growth.


Q4. What will be the breakfast cereals market size by 2027?
A4. The breakfast cereals market is estimated to reach a market size of US$34.980 billion by 2027.


Q5. Which region holds the largest market share in the breakfast cereals market?
A5. North America is expected to hold a significant share of the breakfast cereals market owing to the presence of major players coupled with the growing number of product launches in countries like the United States and Canada.

1. Introduction
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology  
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Breakfast Cereals Market, By Type
5.1. Introduction
5.2. Hot cereals
5.3. Ready-to-eat cereals

6. Breakfast Cereals Market, By Product
6.1. Introduction
6.2. Corn-based breakfast cereals
6.3. Others

7. Breakfast Cereals Market, By Distribution Channel
7.1. Introduction
7.2. Online
7.3. Offline
7.3.1. Supermarkets
7.3.2. Convenience stores
7.3.3. Others

8. Breakfast Cereals Market, By Geography
8.1. Introduction
8.2. North America (US$ Billion) 
8.2.1. North America Breakfast Cereals Market, By Type, 2020 to 2027 (US$ Billion)
8.2.2. North America Breakfast Cereals Market, By Product, 2020 to 2027 (US$ Billion)
8.2.3. North America Breakfast Cereals Market, By Distribution Channel, 2020 To 2027(US$ Billion)
8.2.4. By Country
8.2.4.1. United States (US$ Billion) 
8.2.4.2. Canada (US$ Billion) 
8.2.4.3. Mexico (US$ Billion)
8.3. South America (US$ Billion) 
8.3.1. South America Breakfast Cereals Market, By Type, 2020 to 2027 (US$ Billion)
8.3.2. South America Breakfast Cereals Market, By Product, 2020 to 2027 (US$ Billion)
8.3.3. South America Breakfast Cereals Market, By Distribution Channel, 2020 To 2027(US$ Billion)
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe (US$ Billion) 
8.4.1. Europe Breakfast Cereals Market, By Type, 2020 to 2027 (US$ Billion)
8.4.2. Europe Breakfast Cereals Market, By Product, 2020 to 2027 (US$ Billion)
8.4.3. Europe Breakfast Cereals Market, By Distribution Channel, 2020 To 2027(US$ Billion)
8.4.4. By Country
8.4.4.1. UK
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Spain
8.4.4.5. Italy
8.4.4.6. Others
8.5. Middle East and Africa (US$ Billion) 
8.5.1. Middle East and Africa Breakfast Cereals Market, By Type, 2020 to 2027 (US$ Billion)
8.5.2. Middle East and Africa Breakfast Cereals Market, By Product, 2020 to 2027 (US$ Billion)
8.5.3. Middle East and Africa Breakfast Cereals Market, By Distribution Channel, 2020 To 2027(US$ Billion)
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. South Africa
8.5.4.3. Others
8.6. Asia Pacific (US$ Billion) 
8.6.1. Asia Pacific Breakfast Cereals Market, By Type, 2020 to 2027 (US$ Billion)
8.6.2. Asia Pacific Breakfast Cereals Market, By Product, 2020 to 2027 (US$ Billion)
8.6.3. Asia Pacific Breakfast Cereals Market, By Distribution Channel, 2020 To 2027(US$ Billion)
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. South Korea
8.6.4.5. Indonesia
8.6.4.6. Thailand
8.6.4.7. Taiwan
8.6.4.8. Australia
8.6.4.9. Others

9. Competitive Environment And Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Company Profile
10.1. General Mills
10.2. Nestle S.A.
10.3. Kellogg Company
10.4. Dr. Oetker
10.5. Freedom Foods Group
10.6. Carman's Fine Foods
10.7. Food for Life Baking Co. Inc.
10.8. POST HOLDINGS, INC
10.9. B&G Foods Inc.

General Mills

Nestle S.A.

Attune Foods

Kellogg Company

Dr. Oetker

Freedom Foods Group

Carman's Fine Foods

Food for Life Baking Co. Inc.

POST HOLDINGS, INC

B&G Foods Inc.

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