The “Global Breakfast Cereals Market: Trends and Forecast to 2029” report is now available on ResearchAndMarkets.com. As of 2023, the global breakfast cereals market was valued at US$48.15 billion and is expected to reach US$66.65 billion by 2029, with a projected CAGR of 5.62% from 2024 to 2029.
The market is driven by increasing consumer demand for convenient breakfast options, influenced by factors such as urbanization, rising disposable incomes, and the adoption of Western dietary patterns. However, shifting preferences towards fresh, natural foods present challenges, encouraging innovation in plant-based and alternative ingredients. This trend includes the rise of vegan cereals made from whole grains, legumes, and starches, reflecting a broader consumer shift towards health-conscious and sustainable choices.
Key segments include ready-to-eat cereals dominating market share in 2023, with hot cereals seeing rapid growth due to heightened awareness of whole grain benefits. Ingredient-wise, wheat leads due to its availability and consumer preference, while oats are gaining popularity for their health benefits like cholesterol reduction.
Distribution channels like hypermarkets/supermarkets and e-retailers are pivotal, catering to convenience-seeking behaviors through extensive product varieties and online accessibility. Regionally, North America leads, driven by longstanding cereal traditions and robust market presence, while Asia Pacific shows rapid growth due to urbanization, changing lifestyles, and increasing health awareness.
The competitive landscape is diverse, with key players like Kellogg’s, General Mills, and PepsiCo investing in innovation and market expansion strategies to maintain competitive edges. Recent developments include product launches and strategic initiatives to tap emerging markets and adapt to evolving consumer preferences.
For further details, visit: ResearchAndMarkets.com
