The Global Market for Breakfast Cereals is Projected to Exceed US$37.5 Billion by 2024

Soaring Demand for Multi-Grain & Whole Grain Based Cereals Drives Growth in the Breakfast Cereals Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Breakfast Cereals market. The global market for Breakfast Cereals is projected to exceed US$37.5 billion by 2024, driven by growing preference for healthy multi-grain and whole grain based breakfast cereals that are low-fat, low calorie, organic, and enriched with vitamins and minerals.

Breakfast cereals have evolved into an integral part of morning food of modern population, worldwide. While the availability of a wide range of products in different formats, tastes, textures, and ingredients has a major bearing on growth of breakfast cereals market, market expansion is also being driven by prevailing socio-economic factors. Rapid urbanization, growing disposable incomes, expanding working women population, and changing lifestyle trends where processed and convenience foods are given higher importance are favoring market growth. Women hard pressed for time consider breakfast cereals as a more convenient alternative to other staples which require substantial preparation time. Increased emphasis on healthy living and growing consumer inclination towards foods deemed good for health are other major drivers for the cereals market.

There has been a steady and significant shift towards good-for-health foods, and breakfast cereals, leveraging the ‘healthy food’ tag bestowed by nutritionists and healthcare experts, are benefiting immensely from the trend. Surging popularity of trans-fat free, multi-grain and whole grain based breakfast cereals that are low-fat, low calorie, organic, and enriched with vitamins and minerals is favoring the market expansion. Cereals market is especially benefiting from growing preference for fortified, functional, sugar-free, and gluten-free cereals among modern consumers. Cold Cereals, which include natural and sweetened cereals along with regular cereals, and hot cereals, which are easy to cook and can be served instantly, continue to post noticeable year-over-year growth.

Future growth in the market will be driven by growing demand for improved, nutritional and healthier breakfast cereals. Other factors poised to augment the market prospects in the near term include renewed focus on ancient grains, emergence of on-the-go cereals that does not need to be consumed with milk, popularity of cereals packaged in snack-size options for impulse purchases, growing vegetarianism, and surging demand for breakfast Cereal Bars. However, while consumers are increasingly recognizing the importance of starting a day with breakfast, cereals as a category continue to lose consumer appeal and their relative spending on food as a whole. Higher spending on meals away from home, and consumer interest in a variety of nutritious, convenient, and low-cost breakfast options pose a threat to cereals as a breakfast category.

As stated by the new market research report on Breakfast Cereals, the United States represents the largest market worldwide, followed by Europe. Innovation in new flavors and inclusion of more healthier ingredients will help spruce up consumption frequency of cereals in the US and other developed markets. On the other hand, developing regions including Asia-Pacific and Latin America, offer robust opportunities in the form of greater potential for higher market penetration and rise in per capita consumption. Exponential increase in population, urbanization drive, inclination towards western lifestyles, and expanding retail networks represent key growth drivers for cereals in developing regions. While affordability remains a major criterion, demand for breakfast cereals is also fueled by indulgence and introduction of innovative flavors. Rest of World represents the fastest growing market, trailing at a CAGR of 7.9% over the analysis period.

Key players in the market include Alara Wholefoods Ltd., Attune Foods,      AVEES Products India, B&G Foods Inc., Back to Nature Foods Company LLC, Bob’s Red Mill Natural Foods, Food For Life Baking Co. Inc., General Mills Inc., Kellogg Company, mymuesli GmbH, Mornflake Oats Limited, McKee Foods Corporation, Nestlé S.A., Post Holdings Inc., Post Consumer Brands LLC, Pristine, Quaker Oats Company, The Hain Celestial Group Inc., The Jordans & Ryvita Company, The Weetabix Food Company, and Weight Watchers International Inc. among others.

The research report titled “Breakfast Cereals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in both value and volume terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Product segments analyzed in the report for major regional markets in value terms include Hot Cereals, and Cold Cereals.

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