The global breakfast cereal market is expected to increase at a 4.4% compound annual growth rate and reach a valuation of around US$ 65.1 billion by 2032.
Cereal is commonly consumed as a filler and snack in between meals because it is a healthier alternative to cooked breakfast. In North America and Europe, ready-to-eat cereals like cornflakes and muesli have become popular choices for breakfast due to the increased demand for gluten-free products.
Sales of hot cereal are expected to rise within the estimated time frame. The growing trend of multigrain cereals, which combine grains, legumes, and seeds, is a response to customer desire for nutrient-dense breakfast options.
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The demand for hot cereals is being driven by growing knowledge of the health benefits of whole grain and organic cereals. In addition, it is anticipated that the addition of unique flavours to products would increase demand because they will produce novel tastes.
Breakfast cereal consumption is highest in North America, where both ready-to-eat and hot cereals are highly preferred. International players are establishing their distribution networks in nations like India, Japan, and China, and East Asia and South Asia are following suit.
“Surging demand for organic ingredients in packaged food products, along with the introduction of fortified cereals and health-benefit based cereals will create opportunities for growth in the market,” says an FMI analyst.
Key Takeaways:
- Based on nature, sales of conventional breakfast cereals are anticipated to account for around 86% of the total market share in 2022.
- The North American breakfast cereal market is anticipated to dominate the global market with a market share of around 27.9% in 2022, but East Asia is expected to witness a lucrative growth rate during the forecast period.
- On the basis of sales channels, modern trade is expected to hold a dominating share in 2022.
- Based on product type, ready-to-eat breakfast cereal is dominating the global market with a market share of more than 60% in 2022.
Competitive Landscape
The top breakfast cereal manufacturers are likely to expand their market presence attributed to the increasing demand for convenient and healthy food products. In recent years, most consumers have focused heavily on minimizing their calorie intake by adopting top cereal brands and replacing the traditional breakfast choices with better and healthier breakfast cereal brands.
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Breakfast cereal Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Ready-to-Eat
- Hot Cereal
By Sales Channel:
- Modern Trade
- Traditional Grocery Stores
- Convenience Stores
- Specialty Stores
- Online Retail Stores
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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