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| Global Breakfast Cereals Market Size |
The global Breakfast Cereals Market is estimated to be valued at US$ 51,374.54 Mn in 2023 and is
expected to exhibit a CAGR of 4.8% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Breakfast cereals contain nutrients and fibers that provide sustained energy.
They are easy to prepare and consume on-the-go. Popular varieties include corn
flakes, bran flakes, oats, and muesli.
Market key trends:
One of the key trends in the breakfast cereals market is the rise in demand for
organic and healthy cereals. Consumers are increasingly health-conscious and
prefer natural ingredients with fewer additives. They look for whole grains,
fewer sugars, and higher protein content. To cater to this demand, companies
offer varieties made from ancient grains like quinoa, amaranth, and millet.
They also focus on different flavors and textures to make cereal consumption
more enjoyable as a snacking option.
Segment Analysis
Breakfast Cereals Market is segmented on the basis of product type into hot
breakfast cereals and cold breakfast cereals. Cold breakfast cereals dominate
the market as they are easily available in different flavors and textures and
are affordable. Owing to busy lifestyle of consumers, ready-to-eat cereals
provide instant breakfast solution.
Key Takeaways
The Global
Breakfast Cereals Market Size is expected to witness high growth,
exhibiting CAGR of 4.8% over the
forecast period, due to increasing demand for convenient and healthy breakfast
options.
The North America region dominated the breakfast cereals market in 2022. Rising
health-conscious population preferring ready-to-eat cereals containing vitamins
and minerals. However, Asia-Pacific is expected to witness the fastest growth
rate over the forecast period. Rising disposable income of consumers in
developing countries like India and China is driving the demand for breakfast
cereals in this region.
Key players operating in the Breakfast Cereals Market are Kellogg Co., General
Mills, PepsiCo., Cereal Partners Worldwide (CPW), Post Holdings, and The
Weetabix Food Company. Kellogg Co. holds the largest market share with popular
products like Corn Flakes, Frosted Flakes, etc. General Mills offers variety of
cereal options under brands like Cheerios, Lucky Charms, Cinnamon Toast Crunch,
etc. to cater to changing consumer tastes.
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