Having a breakfast at leisure is a thing of the past, especially in rapidly developing and developed countries due to the pace of life that has accelerated to mind boggling levels. More and more people are preferring convenient breakfast substitutes that can be consumed on the go or in the office, as per extensive research done by Future Market Insights in the year 2019.
Fast paced lifestyles and increasing participation of women in the workforce and 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.
In addition, increasing urbanisation and the concept of nuclear families make working women juggle domestic and work responsibilities and consequently there is no time for making or having a leisurely breakfast, as the urban populace battles increasing work commutes and a dearth of time.
All these factors contribute heavily to the popularity of on-the-go breakfast products that are convenient, easy to consume and healthy as compared to sugary cereals.
In 2015, the global on-the-go breakfast products market was valued at nearly USD 1,200 Million, which is expected to reach USD 1,500 Million by 2021 end, registering a CAGR of 4.2% over the forecast period (2019 to 2026).The global on-the-go breakfast products market is expected to be valued at nearly USD 1,900 Million by the end of 2026. The market is estimated to represent incremental opportunity of more than USD 600 Million between 2019 and 2026.
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In 2015, the North America on-the-go breakfast products market was valued at nearly USD 270 Million, which is expected to reach nearly USD 330 Million by 2021 end
On-the-go Breakfast Products Market to Exhibit Higher CAGR in the USA than Canada
In 2015, the on-the-go breakfast products market in the USA was valued at nearly USD 200 Mn and is expected to register a CAGR of 4.7% over the forecast period to reach nearly USD 320 Million by the end of 2026
Demand for Healthier and Low-calorie Breakfast Boosts Growth Prospects in North America
Breakfast Cereals
Dairy based Breakfast Drinks
Consumers are looking for more convenience and added nutrition in their breakfast
Owing to a hectic lifestyle, increasing number of single person households and rise in the number of working women globally, 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.
Increasing consumer preference for convenient products has led manufacturers to offer on-the go breakfast food packed in pots. Demand for products with high fibre and protein content is increasing significantly in countries like the USA, UK, and Japan. Increasing demand for value-added products in various countries is prompting manufacturers to offer healthy breakfast products with additional nutrients.
Demand for on-the-go breakfast products is likely to grow at a CAGR of 4% through 2032.
Sales of on-the-go breakfast products is likely to exceed a valuation of USD 2309.18 million by 2032.
Adoption of on-the-go breakfast products is likely to reach a valuation of USD 1560 million in 2022.
Western Europe is the key on-the-go breakfast products market contributor.
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On-the-go Breakfast Products Market
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