The global Breakfast Cereal Market is estimated at USD 43.87 billion in 2023. The market is projected to grow at a CAGR of 4.6% from 2023 to 2033, suggesting that the global worth of the breakfast cereal market is anticipated to soar to USD 68.87 billion by 2033.
| Attributes | Key Statistics |
|---|---|
| Breakfast Cereal Market Value (2023) | USD 43.87 Billion |
| Anticipated Market Value (2033) | USD 68.87 Billion |
| CAGR (2023 to 2033) | 4.6% CAGR |
Key Market Highlights
Consumer Demand for Clean Label Products Fuels Breakfast Cereal Market Growth
The breakfast cereal market has witnessed remarkable growth in recent years, driven by evolving consumer preferences and an increasing demand for convenient and nutritious breakfast options. Clean labeling has emerged as a major factor in the market expansion of breakfast cereals as more consumers become conscious about their health. The demand for breakfast cereals will experience a noticeable surge as consumers seek breakfast items made with minimal, natural, and recognizable ingredients.
There is an appealing factor associated with homegrown, untreated, and minimally processed breakfast food items, and key players in the market leverage this opportunity to expand their consumer base. Gluten and allergen-free options are considered best for breakfast. As a result, many breakfast cereal brands have launched products in these lines, thus contributing to the growth in revenue share of the breakfast cereals market.
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The breakfast cereal market is heavily reliant on the changing dietary preferences of consumers across the world. As more individuals turn toward quick, on-the-go breakfast options, the demand for breakfast cereals is likely to experience a surge. Historically speaking, the breakfast cereal market has steadily grown in the last few years. During the COVID-19 outbreak, when most of the restaurant chains and small eateries had to shut down, consumers worldwide chose cereals to start their day. During these times, individuals stocked up huge supplies of cereals, fearing the chance of shortages. With the opening up of restaurants post-pandemic, it can be observed that there is a slight plunge in the market demand for breakfast cereals.
| Attributes | Key Statistics |
|---|---|
| Breakfast Cereal Market Value (2018) | USD 36.19 Billion |
| Historical Market Value (2022) | USD 42.34 Billion |
| Estimated Growth (2018 to 2022) | 4.0% CAGR |
Principal Consultant
Ready-to-eat breakfast cereals are in great demand as they are associated with improved nutrient intake. They contain less fat and sucrose and more fiber, protein, and micronutrients like vitamin B, calcium, magnesium, and phosphorus. Based on type, the market for breakfast cereals is segmented into hot cereal and ready-to-eat alternatives, where the latter dominates the market with an overall share of 65.5%.
| Top Product Type | Ready-to-Eat |
|---|---|
| Market share, 2023 | 65.5% |
Consumers also prefer RTE breakfast cereals as they help them maintain healthier body weight and reduce the risk of lifestyle-related disorders like hypertension, diabetes, and other cardiovascular diseases. RTEs are also chosen over other breakfast options as they are a good source of antioxidants and phytoestrogens. Whole-grain RTE cereals are rich in essential vitamins, minerals, and phytochemicals.
Supermarket chains have penetrated every nook and corner of the world and have been a preferred choice for consumers to buy their groceries. Based on sales channels, the market for breakfast cereals is segmented into online platforms and supermarkets, where the latter dominates the market with a global revenue share of 38.50%. Supermarkets offer a wide array of cereal brands, flavors, and types, allowing consumers to browse and choose from diverse options in one place.
| Top Sales Channel | Supermarkets |
|---|---|
| Market share, 2023 | 38.50% |
Supermarkets contribute significantly to the breakfast cereal market as families and individuals looking to buy cereals in bulk can efficiently stock up their supplies. Supermarkets also have large discounts and in-store promotions, which makes consumers visit them regularly. The continued preference for supermarkets in purchasing breakfast cereals can be attributed to the convenience, variety, and immediate access they offer to consumers.
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| Countries | CAGR (2023 to 2033) |
|---|---|
| Australia | 14.6% |
| Germany | 9.2% |
| Japan | 7.9% |
| The United States | 7.9% |
| China | 7.4% |
Australia has a growing emphasis on health and wellness, with consumers seeking convenient and nutritious breakfast options. Breakfast cereals, especially those with low sugar and high fiber content, are found in almost all supermarket chains and online platforms, driving the growth of the breakfast cereal market. As a sports-loving country, numerous health carts and breakfast joints have included cereals in their menus, catering to athletes and fitness enthusiasts looking for a nutritious and energy-packed start to their day.
As most of the Australian population resides in the coastal regions, some of the busiest cities in the world, there is little to no time for working professionals to make conventional breakfast. As a result, consumers are increasingly turning to breakfast cereals as a quick and convenient breakfast option. The ease of pouring cereal into a bowl and adding milk, yogurt, or a plant-based alternative saves time. It aligns with the fast-paced urban lifestyle prevalent in major Australian cities.
With more people following the ongoing trend of natural and cleanly labeled packaged food items for their every meal, the breakfast cereals market in Germany is anticipated to grow at a remarkable rate of 9.2% CAGR through 2033. Key players in the German breakfast cereal market have collaborated with social media influencers and fitness gurus with millions of followers for the promotion of their products.
This demand has driven manufacturers to introduce cereals with minimal additives, preservatives, and artificial flavors, meeting the evolving preferences of German consumers. As a result, breakfast cereals have become a preferred choice for those looking for a convenient and wholesome morning meal, contributing to the robust growth of the market in Germany.
Japanese culinary culture is said to be the most welcoming culture when it comes to incorporating Western cuisines into their diets. Owing to this, key players in the Japanese breakfast cereal market have regionalized their products by local cuisines to appeal to a wider consumer base. Based on current market trends, it can be confidently projected that the market for breakfast cereals in Japan is very likely to exhibit a moderate expansion at a 7.9% CAGR over the forecast period.
These companies have introduced cereal options with matcha (green tea) flavor, kinako (roasted soybean) toppings, or yuzu (citrus fruit) extracts. These strategies have resulted in good consumer response for the manufacturers, eventually aiding the market.
The United States is the largest consumer of breakfast cereals in the world. As per the report, the breakfast cereal market is anticipated to expand by a modest 7.9% CAGR. This growth is primarily driven by the enduring popularity of breakfast cereals among American consumers, who value the convenience and versatility of these products as a quick and nutritious morning meal.
With an increasingly health-conscious population, cereal manufacturers are also focusing on introducing innovative and healthier cereal options meeting the evolving dietary preferences of consumers.
The presence of numerous companies that fulfill the demands of local and global markets has saturated the breakfast cereal market. The dominance of international brands in the market has made it difficult for start-ups and small-scale enterprises to enter the market. Brands in this market have to regularly update their product portfolios to fulfill the demands of consumers whose dietary preferences always change. Despite these challenges, the steady demand for breakfast cereal remains, and established brands continue to innovate by introducing new flavors, healthier options, and convenient packaging, ensuring their relevance in an ever-evolving market.
Recent Developments in the Breakfast Cereal Market
The breakfast cereal market is valued to be at USD 43.87 billion in 2023.
Kellogg’s and Nestle are the market leaders in the breakfast cereal market.
The breakfast cereal market is expected to grow by a 4.6% CAGR from 2023 to 2033
By the end of 2033, the market is estimated to hold a valuation of USD 68.87 billion.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Organic 5.2. Conventional 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Ready-to-Eat 6.2. Hot Cereal 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Modern Trade 7.2. Traditional Grocery Stores 7.3. Convenience Stores 7.4. Specialty Stores 7.5. Online Retail Stores 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Kellogg Company 18.2. Marico Ltd. 18.3. B&G Foods Inc. 18.4. Bagrrys India Ltd. 18.5. General Mills Inc. 18.6. Nestle S.A. 18.7. Pepsico Inc. 18.8. Bob’s Red Mill 18.9. Weetabix Ltd 18.10. Erewhon 18.11. Post Holding Inc. 18.12. MOM Brands Company 19. Assumptions & Acronyms Used 20. Research Methodology
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Breakfast Cereal Market
