Cereals have a prolonged history of use by humans. Globally, cereals are defined as the edible seeds or grains of the grass family, Gramineae. Cereals are stapled foods with essential sources of nutrients in both developed and developing countries. Cereals and cereal products are considered a vital source of energy, carbohydrate, protein, and fibre and accommodate a range of micronutrients such as vitamin E, vitamin B, magnesium, and zinc. According to Renub Research latest report, the Global Breakfast Cereals Market is expected to reach US$ 60.60 Billion by 2027.
Furthermore, breakfast cereals are available in different varieties. However, the essential ingredient is grains. By ingredients, commonly used breakfast cereals include rice, wheat, corn, barley and oats. Numerous cereals are grown in different countries. As per our analysis, on a worldwide basis, by ingredients, rice is the most dominating ingredient.
Increasing demand for Quick Meals Driving the Consumption of RTE Cereals
By Type, Global Breakfast Cereals Market is classified into Ready to eat (RTE) and Hot Cereal. Ready to eat (RTE) consists of bars, cornflakes, cookies & biscuits. Globally rising demand for on-the-go meal options is driving the consumption of RTE cereals. Besides, increasing awareness regarding easy, fast, and inexpensive meal options the RTE cereal category offers boosts the overall market. Attractive packaging, compelling advertising strategies, and improved taste are the key factors fuelling demand for RTE.
In addition, common types of hot cereals include oatmeal, grits, cream of wheat, cream of rice, and mixed grain cereals. The rising adoption of nutritious meal options in breakfast is expected to register the fastest growth during the forecast period attributed to burgeoning consumption in Asian countries like India and China. The vast benefits of including the organic and whole grain-based cereals in the diet further escalate the demand for hot cereals globally. Besides, the incorporation of exotic flavours into the product variants, resulting in innovative tastes, is anticipated to rev up the market.
Distribution Channel - E-commerce is emerging as a convenient distribution channel
The Global Breakfast Cereals Market, By Distribution Channel, supermarket, convenience stores, E-commerce are the major distribution channels reviewed in the report. The number of convenience stores across the globe has seen an unprecedented acceleration in the last few years. Initially, their occupancy was concentrated in developed economies of North America and Europe, and now they have expanded the presence of convenience stores across the Asia Pacific.
Furthermore, E-commerce is also emerging as a convenient distribution channel in the global sphere. E-commerce creates considerable revenue from developed economies of North America and Europe on the widespread adoption of the internet and mobile phones. Online channels globally provide better access to branded merchandise and deliver a better shopping experience. Globally, E-commerce offers a more prosperous and personalized shopping exposure to the buyer. As per this report, Worldwide Breakfast Cereal Market Size was valued at US$ 45.90 Billion in 2020.
COVID-19 Benefited Breakfast Cereals Industry
The situation of the COVID-19 pandemic had urged a change from eating out to cooking at home as consumers solicit healthier, safe, and convenient food substitutes. With this trend awaited to continue post-pandemic, manufacturers operating in the breakfast cereals business are rolling out private label products that consumers perceive in a convenient environment to shop and cook, with the appended safety of pre-packaged constituents. The pandemic has transformed the way consumers plan their meals. New offerings give people the flexibility to shop conveniently and similarly create healthy meals to scratch cooking.
Contrarily, the consciousness has advanced among consumers and brands with the guidance of retailers vying on preserving the highest safety standard with quality and sustainability as a significant concern. Besides, COVID-19 has generated multiple opportunities for many private players to emerge in the markets to cater to inflated demand.
Regional Analysis of Breakfast Cereals Market Size
Regionally, the market revolves around North America, Europe and the Asia Pacific. Rapidly growing economies in the Asia Pacific leads to a widening populace indulging in busy lifestyles, which, in turn, is agitating up the demand for convenience foods, which is working in favour of the regional market. Surging demand for natural nutritional products owing to advancing consumer awareness concerning healthy lifestyles is poised to trigger demand for breakfast cereals in the Asia Pacific over the forecast period.
Additionally, the growing health concerns and increasing health issues such as diabetes, obesity, and digestive disorders supplement the growth of breakfast cereals market globally, especially in North America. Moreover, product & packaging innovations coupled with a high adoption rate of new products in countries in the region are estimated to play a critical role in increasing the demand for the breakfast cereals market over the forecast period. Our study suggests that Globally Breakfast Cereals Industry is expected to grow with a nominal CAGR of 4.05% from 2020-2027.
Key Companies Performance in Breakfast Cereals Industry
The breakfast cereals market is contentious, with many domestic and global players competing for market share. Some of the primary key players in the market include Marico Limited, General Mills, Inc., Nestl? S.A., Kellogg Company, Pepsico, Inc. and B&G Foods Inc. For instance, in August 2021, Kellogg Company expanded its range of breakfast cereals in India. It has added the Froot Loops brand of cereals in the country, as it hopes to benefit from a post-covid surge in in-home consumption of packaged foods.
Renub Research latest report “Global Breakfast Cereals Market, Global Forecast By Type (RTE and Hot Cereal), Distribution Channel (Supermarket, Convenience Stores, E-Commerce and Others), Ingredient (Rice, Wheat, Corn, Barley, Oats and Others), Region (North America, Europe, Asia Pacific and Rest of World), Companies (Marico limited, General Mills, Inc., Nestl? S.A., Kellogg Company, Pepsico, Inc. and B&G Foods Inc.)” provides a detailed analysis of Global Breakfast Cereals Industry.
Type the market has been covered from 2 viewpoints:
2. Hot Cereal
Distribution Channel the market has been covered from 4 viewpoints:
2. Convenience Stores
Ingredient the market has been covered from 6 viewpoints:
Region the market has been covered from 4 viewpoints:
1. North America
3. Asia Pacific
4. Rest of World
Key Players Insight:
- Recent Developments
1. Marico limited
2. General Mills, Inc
3. Nestl? S.A.
4. Kellogg Company
5. Pepsico, Inc.
6. B&G Foods Inc.