Newark, NJ, May 24, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global market for breakfast cereals is expected to grow from $ 44.5 billion in 2020 to $ 63.3 billion by 2028, with a CAGR of 4.8% for the forecast period 2021-2028.
The growth of the breakfast cereals market is attributed to the growing awareness of consumers regarding healthy and balanced dietary requirements. Consumer habits are a determining factor in the global demand for ready-to-eat cereals. Major players in the global market, such as Kellogg’s, General Mills, etc., face fierce competition from private labels mainly because the focus is on developing countries. Emerging economies have enormous market potential for breakfast cereals but are slightly constrained by traditional practices and customs. The rapid urbanization in these developing economies has helped overcome these restrictions as more and more consumers adjust to the fast-paced and fast-paced lifestyle, which is positively impacting the growth of the market.
The breakfast cereal market is dominated by ready-to-eat cereals, which consists of wheat, corn and mixed cereals and a few other supplements and comes in the form of snacks, crisps and flakes etc. Breakfast cereals are considered healthy because they are fortified with vitamins, minerals, and commonly used grains such as barley, oats, rice, corn, and wheat. Breakfast cereals offer the perfect solution to this generation’s demands for fast and convenient foods that are high in energy. Due to their ease of preparation and nutritional content, these products have gained prominence in the infant industry.
The factors driving the growth of the breakfast cereals market are the increasing demand for ready-made meals, the advancement and innovations in the technique of food production, the growing awareness of consumers about diet , which has resulted in a high demand for multi – a breakfast rich in dietary fiber. Globalization, combined with the changing lifestyle of the people, has led to an increase in the consumption of ready meals all over the world. Factors limiting the market are rising costs of primary ingredients such as palm oil, concern for nutrient loss during the food preparation process, added sugar content; the availability of alternatives such as yogurt, frozen waffles, etc. Emerging markets which are abundant in raw materials and have a great availability of cheap labor offer an excellent opportunity to expand the market.
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Some of the major players in the global breakfast cereal market are Kellogg, Nestle, General mills, Attune Foods, PepsiCo, Coca-Cola Co., Bob’s Red Mill Natural Foods, and Sanitarium Health.
The ready-to-eat cereals segment dominated the market and held the largest market share of 72% in 2020
On the basis of type, the global breakfast cereal market is segmented into ready-to-eat cereals and hot cereals. The ready-to-eat cereals segment dominated the market and held the largest market share of 72% in 2020. This growth can be attributed to the fast-paced lifestyles of consumers, due to which the demand for ready-to-eat foods, which is nutritious and saves time, has increased considerably. This segment includes cornflakes, bars and cookies for all age groups.
The mixed / mixed breakfast cereal segment dominated the market and held the largest market share of 65% in 2020
On the basis of product, the global breakfast cereal market is segmented into mixed / mixed breakfast cereals, corn-based breakfast cereals and others. The mixed / mixed breakfast cereals segment dominated the market and held the largest market share of 65% in 2020. This growth can be attributed to consumer preference for mixed and mixed breakfast cereals, which offer a wide range of products for all age groups. in different flavors.
The supermarket / hypermarket segment dominated the market and held the largest market with 44% share in 2020
On the basis of distribution channel, the global breakfast cereal market is segmented into supermarkets / hypermarkets, convenience stores, specialty stores, online retailers. The supermarket / hypermarket segment dominated the market and held the largest market with 44% share in 2020. This growth can be attributed to the high concentration of supermarkets, especially in emerging economies. Online retailers have become one of the largest distributors due to the increasing reliance of consumers on the internet and e-commerce for better access.
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Regional segment of the breakfast cereals market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global breakfast cereal market is categorized as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America dominated the market and held the largest market share of 38% in 2020. This growth can mainly be attributed to the high demand for processed foods in developed markets such as United States, Canada , etc. lifestyle has influenced the demand for healthy diets in these developed economies. Europe is also a leading market for breakfast cereals mainly due to product and packaging innovation. Asia-Pacific is the fastest growing market due to increasing population, increasing disposable income, influence of Western culture and growing retail infrastructure .
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About the report:
The global breakfast cereal market is analyzed on the basis of value (billion USD). All segments were analyzed globally, regionally and nationally. The study includes analysis of over 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain critical insights into the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
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Fior Markets is a futuristic business intelligence company, which helps clients develop their business strategies and make better decisions using actionable insights. With a transparent information pool, we meet client goals, high level engagements and targeting potential prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global business intelligence research reports, including sectors such as technology, pharmaceuticals, consumer goods, food and beverage, chemicals, media, materials and many others. Our strategic intelligence capabilities are purposefully planned to drive the expansion of your business and elucidate the strength of a diverse industry. We hold eminent units of highly expert analysts and consultants according to their respective fields. The global market research reports provided by us involve qualitative and quantitative analysis of the current market scenario according to the separate geographic regions and complete performance in different regions with a holistic approach. Plus, our subscribed research reports offer a comprehensive guide to keeping companies up to date with major changes coming in their fields. Fior Markets offers its clients personalized research analyzes based on their exact requirements, specifications and challenges, whether it is full documentary research, investigative work, composition of multiple methods, a detailed interview or a competitive watch. Our research experts have the experience of matching the exact people and methodology to your business needs.
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