According to Future Market Insights research, during the projected period, the Porridges market is expected to grow at a CAGR of 5.5%. The market value is projected to increase from US$ 591.6 million in 2022 to US$ 1,010.5 million by 2032. The Porridges market was valued at US$ 567.2 million at the end of 2021 and is anticipated to exhibit a CAGR growth of 4.3% from 2016 to 2021.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | US$ 591.6 million |
| Market Forecast Value in 2032 | US$ 1,010.5 million |
| Global Growth Rate (2022 to 2032) | 5.5% CAGR |
| Forecast Period | 2022 to 2032 |
| CAGR of the United Kingdom in Europe | 5.9% |
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Large numbers of single people and working women have caused consumers' preferences for fully prepared breakfast food products to change. Porridges are breakfast foods produced from starchy plants, particularly grains like wheat, barley, oats, and others.
Porridge is currently being positioned and promoted to consumers as an immediate, ready-to-eat breakfast choice. The market is anticipated to develop during the forecast period due to rising customer preference for convenience food items and rising consumption of breakfast foods with added health benefits.
A new report published by Future market insights, titled, Porridges Market - Global Opportunity Analysis and Industry Forecast, 2022 to 2032, projects the global Porridges market to reach US$ 1,010.5 million by 2032. The market was valued at US$ 459.5 million in 2016 and is expected to grow at a CAGR of 5.5% from 2022 to 2032.
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The global porridge market is further divided by geography, with the Middle East, Africa, and Asia Pacific excluding Japan, North America, Latin America, Western Europe, Eastern Europe, and Japan included. Geographically, Western Europe is anticipated to be the leading porridge marketplace in terms of value, as consumers' preferences for easy breakfast options are on the rise. In terms of porridge consumption, the United Kingdom is predicted to continue to lead the other nations, followed by Germany.
The porridge market in North America has a promising future. According to FMI experts, the industry will keep expanding due to rising supply and demand. The porridge market in North America has expanded significantly in recent years. A number of variables, including an increase in demand from both consumers and corporations, are to blame for this. The market's recent expansion is the result of a variety of factors. An increase in demand from both consumers and corporations is among the most significant. This is because people are becoming more aware of the advantages of porridges, including their high nutritional value and capacity to aid in weight loss.
The porridge market is predicted to grow quickly in Asia Pacific. China is anticipated to consume the most porridge in the area. The country's market growth is anticipated to be supported by ongoing new product launches. Singapore is also anticipated to constitute a potential market among ASEAN nations in terms of consumption volume and value. The growth in the region is driven by the rising population, growing income levels, and changing lifestyle patterns. The region is also witnessing a growing demand for convenient and healthy food options.
The Asia Pacific region accounts for a significant share of the global porridge market due to the large population and growing income levels. The market in the region is further bolstered by the changing lifestyle patterns and rising demand for convenient and healthy food options.
The global market for porridges is anticipated to be driven by an increase in working women and the number of single people worldwide. Additionally, throughout the course of the forecast period, the market is anticipated to develop as a result of the ongoing launch of novel porridge products including porridges with fruits and nuts.
During the projected period, manufacturers' active advertising campaigns aimed at raising customer awareness are anticipated to fuel market expansion. Additionally, rising demand for convenience breakfast goods and rising per capita spending on prepared food are anticipated to support market expansion in the near term.
There are three main sources for the extraction of porridges: oats, barley, and wheat. Oats are the most popular source of porridge, as they are high in fiber and have a nutty flavor. Barley is also a common source of porridge, as it is rich in vitamins and minerals. Wheat is less commonly used for porridge, as it has a higher gluten content and can be difficult to digest.
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The Porridges in the market are expected to grow at a CAGR of 5.5% during the forecast period of 2022 to 2032. The global porridge market is also segmented on the basis of distribution channel which includes hypermarket/supermarket, retail stores, convenience stores, online, and others. Among all these segment hypermarket/ supermarkets is expected to account for a relatively higher value share over the forecast period.
Increasing penetration of the retail industry especially in developing countries is expected to support the segment growth in the porridge market over the forecast period. Convenience stores are further expected to account for favorable growth during the forecast period.
In a world filled with instant oatmeal and microwaveable oatmeal packets, it can be easy to forget about the humble porridge. But this humble breakfast food is making a comeback, thanks to the growing demand for healthy, whole foods.
While there are many brands of porridge on the market, the competitive landscape is fairly limited. The top three brands - Quaker, Old Fashioned oats, and McCann's Irish Oatmeal - hold a combined market share of 80%. This leaves little room for smaller brands to compete.
The reason for this limited competition is that porridge is a fairly simple product to make. There are only a few key ingredients - oats, water, milk - and the manufacturing process is not complex. This means that there are relatively few barriers to entry for new brands looking to enter the market.
Porridges have been a staple food in many cultures for centuries. With the rise of health consciousness and the popularity of plant-based diets, porridges are enjoying a renaissance. The porridge market is growing and becoming more competitive. Here's a look at the current landscape of porridge markets.
There are two main types of porridge: savory and sweet. Savory porridge is usually made with grains like rice, oats, or barley. They can be flavored with vegetables, meat, or fish. Sweet porridge is made with fruits, nuts, and sweeteners like honey or syrup. Porridges are typically made from oats, rice, wheat, or other grains. They are usually cooked in water or milk and can be sweetened or savory. Porridges can be served hot or cold and are a popular breakfast food in many parts of the world.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | US$ million for Value and Units for Volume |
| Key Regions Covered |
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| Key Countries Covered |
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| Key Segments Covered |
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| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Porridges market will reach a valuation of US$ 591.6 Million by the end of 2022.
The global Porridges market is forecasted to surpass US$ 1,010.5 Million by the end of 2032.
USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Porridges Market.
The USA Porridges Market is contributing 30.1% of the total value share in the global market.
The German Porridges Market is contributing 29.6% of the total value share in the global market.
In Japan Porridges Market is contributing 11.8% of the total market share which be valued in the year 2022.
In India Porridges Market is contributing 5.4% of CAGR for the latest period.
In China Porridges Market is contributing 4.9 % of CAGR for latest period.
In Australia Porridges Market is contributing 2.9% of the total value share in the global market.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Analysis and Forecast 6.1. Type 6.2. End-Use 6.3. Source 6.4. Distribution Channel 7. Global Analysis and Forecast, By Type 7.1. Beta-Sitosterol 7.2. Camp Sterol 7.3. Stigmasterol 8. Global Analysis and Forecast, By End-Use 8.1. Food And Beverage 8.2. Dietary Supplements 9. Global Analysis and Forecast, By Source 9.1. Rice 9.2. Barley 9.3. Oats 10. Global Analysis and Forecast, By Distribution Channel 10.1. Pharmacies/Drugstores 10.2. Health & Beauty stores 10.3. Hypermarket/Supermarket 10.4. Direct Selling 10.5. Online 11. Global Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Oceania 11.6. Middle East and Africa (MEA) 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East and Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Type, End-Use, Source, and Distribution Channel for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Quaker Oats Company 20.2. Kellogg Co. 20.3. General Mills Inc. 20.4. Dole Food Company Inc 20.5. Weetabix Limited 20.6. H. J. Heinz Company
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Porridges Market
