Breakfast cereal market is projected to grow from US$ 43.3 billion in 2020 to US$ 62.8 billion by 2029. Increase in consumption of probiotic food which is rich in nutritional values is major driver for global probiotic market. The increase in the costs of the healthcare sector and the introduction of the internet age, has led to an rise in the liking for preventive health care. This has enabled consumers to self-diagnose the ailments such digestive distress, obesity, high blood pressure, and tooth decay, due to the unhealthy & sedentary lifestyle. Furthermore, increasing participation of international bodies in the research and development of probiotic products across the globe is one of the factor expected to boost growth of the target market in the near future. Decreasing the development cost by developing new processes to reduce the cost of breakfast cereal production may create new opportunity for the growth of the global probiotic market.
The report ” Global Breakfast Cereal Market, By Source (Corn, Rice, Wheat, Oats and Barley), By Product-Type (Hot and Ready- to- eat cereals), By Distribution Channel (Supermarket, Convenience Stores, Online, and Others), and Region – Global Forecast to 2029″
In 2015, Post Holdings has acquired MOM Brands Co., a small sized, private company producing breakfast cereals
Key Market Insights from the report:
The global Breakfast cereal market accounted for US$ 43.3 billion in 2020 and is projected to register a moderate CAGR of 4.2 % over the forecast period. The market report has been segmented on the basis of source, product type, distribution channel, and region.
By source, the global breakfast cereal market is segmented into corn, rice, wheat, oats and barley. Ingredients including malt and vegetable oils are used in the processing of breakfast cereals. The consumption of the breakfast cereals between the children is rising at a quick pace due to increase in the awareness among the parents about the health benefits of breakfast cereals.
By product type, the global breakfast cereal market is segmented into hot cereals and ready- to- eat cereals. This segment generally consists of biscuit, bars, cornflakes and cookies. With this, rise in the awareness about fast, easy, and inexpensive meal options offered by Ready-To-Eat cereal category is boosting the overall market. The market is also observing rise in the adoption of cereal bars amongst kids. Effective advertising strategies, attractive packaging, and improved taste are some key factors propelling its demand.
By distribution channel, the global market is bifurcated into stores, convenience online, supermarket, and others. E-commerce distribution channels are progressively achieving attention in emerging economies due to rise in the penetration of internet and mobile phones.
By region, Asia Pacific is expected to be a major market for breakfast cereal in the near future due to exploding population especially in countries like India and China.
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The prominent player operating in the global Breakfast cereal market includes are General Mills, Inc., Alara Wholefoods Ltd., Nestle SA, Kellogg Company, PepsiCo, Inc., Bagrrys India Ltd., Post Holdings, Inc., B&G Foods Inc., Archer Daniels Midland Company, and Bob’s Red Mill Natural Foods Inc.