Breakfast Cereals Market Synopsis:
The global breakfast cereal market size was valued at USD 182.5 Billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030.
What Are Breakfast Cereals Made Of?
Breakfast cereals are available in the market in different varieties, with the most used ingredient being grains. Some of the frequently used grains are rice, oats, wheat, corn, and barley. Some of the hot cereals like oatmeal are devoid of any ingredient while a few other forms sometimes contain yeast, colouring agents, minerals, salts, sweeteners, food preservatives, and vitamins. The market for granola, hot cereal, and muesli products is expanding at a stunning pace. Hot cereals are products such as oats, wheat bran, porridge, and oat bran. Consumers are increasingly opting for hot breakfast cereals, which gives a significant push to the hot breakfast cereal category. Out of the different types of hot cereals in the market, oats have garnered the highest acceptance and are enjoying immense popularity. Their high popularity could be in response to the surging awareness among consumers about their health benefits.
Palm oil is a crucial ingredient used extensively during the processing of Breakfast Cereals Market. The major sweetener that is utilized in producing breakfast cereals is malt, sourced from brown sugar, barley, corn syrup, and white sugar. Some natural breakfast cereals are sweetened using concentrated fruit juices. Different flavors are added, some of which include chocolate, cinnamon, fruit flavors, and spices, with a few other ingredient types used for flavor enhancement, such as nuts, marshmallows, and dried fruit. Additionally, essential minerals and vitamins are further added to replace all the nutrients lost during the cooking process.
Who is the industry top competitors for breakfast cereals?
Top competitors for breakfast cereals: Kellogg Co. (US), General Mills, Inc. (US), Post Holdings, Inc. (US), PepsiCo (US), Nestlé (Switzerland), Weetabix Limited (UK), The Jordans & Ryvita Company (UK), TreeHouse Foods, Inc. (US), and Nature's Path Foods (Canada)
What are the key drivers behind the growth of the breakfast cereal industry?
One of the major factors propelling the industry expansion is the growing number of health-conscious consumers looking for healthier breakfast options.
Breakfast Cereals Market Segmentation:
Based on Source: Wheat, Rice, Oat, Corn, Barley, and Others
Based on Packaging Type: Boxes, Pouches, and Others
Based on Distribution Channel: Store-Based and Non-Store-Based
Competitive Landscape:
The top vendors are focused on enhancing their brand value by way of aggressive promotional activities. Companies advertise their products on various social media platforms, and conduct events to interact with consumers. They demonstrate their new ranges of breakfast cereals to spark the attention of more consumers.
Furthermore, major brands emphasize on research & development activities to launch new products, expanding their product lines. Manny of the firms are also unveiling new varieties of breakfast cereals in multiple flavors for higher sales and overall revenue. For instance, in December 2021, Kellogg’s introduced mince pie flavoured breakfast cereal called Mince Pie Wheats. Mince Pie Flavoured Wheats contains a gently spiced, smooth sultana centre, which adding to the consumers’ Christmas spirit every morning.
Breakfast Cereals Packaging Market Trends to Look Out For:
Use of Sustainable Packaging Materials:
At present, majority of the Healthiest Breakfast Cereals packaging makes use of plastics, like polyamide, polypropylene, polyethylene, polyethylene terephthalate, ethylene vinyl alcohol, and many more. However, brands now are adopting sustainable materials, which are plant and paper-based that completely eradicates the use of plastic inner bags. These plastic inner bags are generally found in cardboard packaged breakfast cereals. But currently, many of the companies are shifting from plastic packaging to sustainable alternatives. This move helps ensure the food’s freshness for a long time, while also bringing down the concerns related to plastic waste.
Flexible Packaging:
Rapidly infiltrating the global market is the major trend of flexible packaging, overtaking conventional rigid packaging. Flexible, stand-up, and resealable bags are slated to be a highly popular breakfast cereal packaging trend, allowing companies to offer convenience and focus on innovation while cutting down the need for materials used during packaging.
Global Breakfast Cereals Market Status Quo:
Developing nations are noting a huge shift when it comes to the consumers’ buying patterns, which are affected by their eating habits. Surge in the urbanization rate and the rapidly mushrooming middle-class populace across these economies have led to changes in consumers’ lifestyle while pushing the preference for on-the-go meal options. Breakfast cereals provide a series of health advantages and take less time to prepare. This is one of the top reasons for their heightened demand among consumers worldwide. With changing dietary habits, the preference for convenience foods has shot up among consumers. The convenience food trend first started in the western countries, then spreading rapidly to other regions as well. Given the improving economic standards across Asian economies, the surge in consumers’ purchasing capacity, and the emergence of convenience food trends, the breakfast cereals market will likely remain strong in the coming years as well. Experts believe that convenience food products are witnessing a surge in demand as people are time pressed and lead a hectic lifestyle, which leaves no time to cook. Consumers are looking for ways to maximize their leisure time, with the aim to enjoy more activities they consider of value. This is projected to be a highly favourable factor for the breakfast cereals market in the years to come.
In addition to the emerging trend of convenience food products, the importance of easy to consume and high nutritional value has risen as well. As a result, breakfast cereals have become some of the most appealing food items over the years. On top of that, the blossoming population of working women especially in developing countries could be a significant growth booster for the breakfast cereal market. Escalating knowledge about the health benefits of different breakfast cereals further boosts the sales. Breakfast cereals have also gained a massive popularity within the baby food category, in view of their considerable nutritional value and ease to prepare property.
Another notable trend in the worldwide market could be premiumization in emerging countries as a surging number of consumers are opting for high-quality products with significant nutritional value instead of regular substandard quality products.
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