on-the-go breakfast products market The market for on-the-go breakfast goods is growing due to the increasing urbanisation and incidence of nuclear families, which leaves little time for working women to have leisurely breakfasts. There is a noticeable increase in demand for breakfast goods that can be consumed on-the-go in Asia Pacific, North America, and the European Union due to factors like hectic lifestyles, extended commutes, and a rise in the number of women joining the workforce.
The North American market for breakfast products that can be eaten on the go is predicted to reach US$ 330 million by the end of 2021, up from an estimated US$ 270 million in 2015.
The market for breakfast foods consumed on the go in North America is expected to reach US$ 415 million by the end of 2026, growing at a rate of 4.4% annually.
It is projected that the market will offer incremental opportunity worth around US$ 150 million between 2019 and 2026.
The market for portable breakfast goods is projected to expand at a remarkable 4.2% compound annual growth rate (CAGR) between 2019 and 2026. The worldwide market is anticipated to reach a valuation of around $1,900 million by the end of 2026, providing a potential growth opportunity of more than $600 million. The market was expected to be worth $1,200 million in 2015. It is expected to reach $1,500 million by the end of 2021.
The on-the-go breakfast products market is experiencing remarkable growth, fueled by urbanization, changing family dynamics, and the rise of working women facing time constraints for traditional breakfasts. In Asia Pacific, North America, and the European Union, the demand for convenient breakfast options is on the rise due to hectic lifestyles, long commutes, and increased female workforce participation.
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Key Market Insights:
- North American Dominance: The North American market for on-the-go breakfast products is set to reach US$ 330 million by the end of 2021, reflecting substantial growth from an estimated US$ 270 million in 2015.
- Steady Growth: The market for these products in North America is projected to reach US$ 415 million by the end of 2026, exhibiting a 4.4% annual growth rate. An incremental opportunity of approximately US$ 150 million is anticipated between 2019 and 2026.
- Global Expansion: The global on-the-go breakfast products market is expected to achieve a 4.2% CAGR between 2019 and 2026, reaching nearly US$ 1,900 million by the end of 2026. This presents a growth opportunity surpassing US$ 600 million, with the market poised to be valued at US$ 1,500 million by the end of 2021.
- Rising Demand for Dairy-Based Beverages: In 2015, the market for dairy-based breakfast beverages was valued at approximately $90 million, projected to surpass $140 million by 2026, with additional opportunities exceeding US$ 50 million between 2019 and 2026.
- Consumer Trends and Regional Dynamics: Urbanization, hectic lifestyles, and increased female workforce participation contribute to the rising demand for on-the-go breakfast products, especially in Asia Pacific, North America, and the European Union.
Key Takeaways:
- Robust Growth Projected: The on-the-go breakfast products market is poised for substantial growth, with an anticipated CAGR of 4.2% from 2019 to 2026, reaching a global valuation of nearly US$ 1,900 million.
- Consumer Preferences Driving Demand: The market is driven by increasing urbanization, changing family structures, and the demand for convenient breakfast solutions, especially among the growing female workforce.
- Global Market Insights: North America leads the global market, with the U.S. expected to record an incremental opportunity of nearly US$ 120 million between 2019 and 2026. Canada is also projected to witness significant growth.
- Segment-wise Growth: Breakfast cereals and dairy-based breakfast drinks are key segments, with the former expected to witness a CAGR of 4.1%, reaching US$ 275 million by 2026, and the latter showing potential growth in the dairy beverage market.
- Competitive Landscape: The market is witnessing a surge in single-person households and increased demand for high-fiber and protein products, prompting manufacturers to offer healthy and convenient on-the-go breakfast options.
In conclusion, the on-the-go breakfast products market is witnessing a surge in demand driven by changing lifestyles, urbanization, and the increasing number of working women. This presents substantial growth opportunities, particularly in North America, and emphasizes the need for convenient, healthy breakfast alternatives.
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The on-the-go breakfast products market is anticipated to create incredible growth opportunities over the forecast period by registering a CAGR of 4.2% from 2019 to 2026. The global on-the-go breakfast products market is expected to be valued at nearly US$ 1,900 Million by the end of 2026. The market is estimated to represent an incremental opportunity of more than US$ 600 Million between 2019 and 2026. According to the historic period, in 2015, the global on-the-go breakfast products market was valued at nearly US$ 1,200 Million, which is expected to reach US$ 1,500 Million by 2021 end.
In 2015, the market for dairy-based breakfast beverages was estimated to be worth around $90 million, and by the end of 2026, it’s expected to be worth more than $140 million. Additionally, it is anticipated that this market would create additional opportunities of more than US$ 50 million between 2019 and 2026. The increased popularity of breakfast foods that are quick and simple to eat on-the-go and are healthier than sugary cereals is significantly influenced by all of these factors.
Attributing to the fast-paced lifestyle, having breakfast at leisure is a thing of the past. In developing and developed nations, life has accelerated at a significant pace. More and more people are preferring convenient breakfast substitutes that can be consumed on the go or in the office.
Report Highlights
Increasing urbanization and the rising concept of nuclear families are likely to make working women juggle between domestic and work responsibilities. This has consequently resulted in no time for making or having a leisurely breakfast, as the urban populace battles increasing work commutes and a dearth of time.
Furthermore, fast-paced lifestyles and surging participation of women in the workforce paired with longer commute times are all fuelling the demand for on-the-go breakfast products all over the world, especially in the fast-growing Asia Pacific region and the developed regions of North America and the European Union.
Recent Developments
Attributing to a hectic lifestyle, there is a significant surge in single-person households and a rise in the number of women working worldwide due to which consumers have a limited amount of time to prepare meals. This has led to a shift in consumer preference for foods that are healthy and offer convenience in terms of preparation.
Competitive Landscape:
The market for on-the-go breakfast products features intense competition, with manufacturers focusing on convenient packaging. Demand for high-fiber and protein-rich products is growing, particularly in the U.S., U.K., and Japan. Manufacturers are exploring value-added products to meet the demand for healthier breakfast options.
Further Market Insights:
- North American Dominance: The North American region is expected to dominate the global on-the-go breakfast products market. In 2015, the market was valued at nearly US$ 270 million, projected to reach US$ 330 million by 2021, and US$ 415 million by the end of 2026.
- Segment-wise Growth: The breakfast cereals segment, valued at nearly US$ 180 million in 2015, is expected to witness a CAGR of 4.1%, reaching US$ 275 million by 2026. This segment is estimated to record an incremental opportunity of more than US$ 90 million.
For deeper insights into the on-the-go breakfast market, connect with an analyst to explore global and North American trends and opportunities.
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More Insights into the On-the-go Breakfast Products Market
The North American region is anticipated to dominate the global on-the-go breakfast products market over the evaluation period. In 2015, North American on-the-go breakfast products market was valued at nearly US$ 270 Million, which is expected to reach nearly US$ 330 Million by 2021 end.
The North American on-the-go breakfast products market is expected to be valued at nearly US$ 415 Million by the end of 2026, registering a CAGR of 4.4% over the evaluation period. Moreover, the market is estimated to represent an incremental opportunity of nearly US$ 150 Million between 2019 and 2026.
The global on-the-go breakfast products market in the U.S. is estimated to record an incremental opportunity of nearly US$ 120 Million between 2019 and 2026. Furthermore, in 2015, the on-the-go breakfast products market in Canada was valued at nearly US$ 70 Million and is expected to witness a CAGR of 3.3% over the forecast period to reach nearly US$ 100 Million by the end of 2026. The market in Canada is estimated to create an incremental opportunity of US$ 27 Million.
In 2015, the breakfast cereals segment was valued at nearly US$ 180 Million and is expected to witness a CAGR of 4.1% over the forecast period to reach US$ 275 Million by the end of 2026. This segment is estimated to record an incremental opportunity of more than US$ 90 Million.
Key Market Segments
By Type:
- Breakfast Cereals
- Dairy based Breakfast Drinks
By Distribution Channel:
- Hypermarket/Supermarket
- Retail Stores
- Convenience Stores
- Online Selling
- Others (Direct Selling)
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
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