The on-the-go breakfast products market is poised for impressive growth, with a projected CAGR of 4.2% from 2019 to 2026. By the end of 2026, the global market is expected to reach nearly $1,900 million, signifying an incremental opportunity of over $600 million between 2019 and 2026. In 2015, the market was valued at around $1,200 million, and it is projected to reach $1,500 million by the end of 2021.
The on-the-go breakfast products market is anticipated to create incredible growth opportunities over the forecast period by registering a CAGR of 4.2% from 2019 to 2026. The global on-the-go breakfast products market is expected to be valued at nearly US$ 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.
The market for dairy-based breakfast beverages was valued at close to US$ 90 million in 2015, and by the end of 2026, it is anticipated to exceed US$ 140 million. Additionally, it is predicted that between 2019 and 2026, this market will generate additional opportunities worth more than US$ 50 million. All of these elements play a significant role in the rising popularity of breakfast items that can be consumed quickly and easily on-the-go and are healthier than sugary cereals.
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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.
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Competitive Landscape
Rising consumer preferences for convenient products have significantly led manufacturers to offer on-the-go breakfast food packed in pots. Demand for products with high fiber and protein content is increasing significantly in countries like the U.S., the U.K., and Japan. Increasing demand for value-added products in various countries is prompting manufacturers to offer healthy breakfast products with additional nutrients.
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.
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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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