Artificial Intelligence
The breakfast cereals market is projected to reach US$ 57,482.17 million by 2028 from US$ 44,831.48 million in 2022
New York, July 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Breakfast Cereals Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type, Category, Type, and Distribution Channel” – https://www.reportlinker.com/p06295655/?utm_source=GNW
Thus, the key players are innovating their product portfolio to attract a more consumer base.The demand for the breakfast cereal market is anticipated to grow in the forecast period due to increasing awareness concerning health and nutrition.
People are careful with their food intake, and this is making them more conscious about the amount of fat, sugar, and other ingredients quality while buying the packed food products. Hence, the shift in consumption trends has forced firms in the breakfast cereal industry to come up with innovative and healthier products.
Based on type, the global breakfast cereals market is segmented into low sugar and regular.In 2021, the regular segment accounted for a larger market share, and low sugar is expected to register a higher CAGR during the forecast period.
The demand for breakfast cereal containing whole grains and low sugar is higher due to the growing incidence of diabetes, obesity, and other diseases.In addition, growing disposable income has led to the increasing consumption of healthy food items containing vitamins, minerals, and other nutrients.
According to NHS, an adult in the UK should not have more than 30g of free sugar on a daily basis.
The consumption of breakfast cereal products is growing rapidly among children due to increasing awareness of health and wellness.For instance, the US Department of Health and Human Services (HHS) and the US Department of Agriculture (USDA) publish the dietary guidelines for Americans every 5 years, highlighting the importance of healthy dietary patterns at every life stage and providing recommendations from infancy to older adulthood.
The company, such as Kellogg, has entered into an agreement to acquire Chicago Bar Company LLC, maker of RXBAR, and later in 2021, they have launched a plant-based protein bar named RX Cereal, which contains low sugar. Therefore, the added protein and the avoidance of artificial colors, flavors, ingredients, or preservatives may help the company stand out and attract more consumer base.
By region, the breakfast cereals market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).In 2020, North America held the largest share of the market.
However, APAC is estimated to register the highest CAGR in the market during the forecast period.The region includes developing countries, such as China and India, which are densely populated and have high breakfast cereals consumption among the masses.
Consumer perception of ready-to-eat meals is constantly improving where convenience and high-speed cooking time are ideal.The online distribution channel is the most recognized channel for ready-to-eat meals.
Key players are focusing on online retailing to market their products to expand their market share and increase their customer base. Therefore, due to cost-effectiveness, demand for these packed meals is anticipated to increase in the forecast period.
The Kellogg Company; WEETABIX; Bob’s Red Mill Natural Foods; General Mills Inc.; Nestlé SA; Nature’s Path Foods; The Quaker Oats Company; Carman’s Fine Foods Pty Ltd.; Calbee, Inc.; and Guilin Seamild Foods Co Ltd. are the players operating in the breakfast cereals market. These companies provide a wide range of product portfolios for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for market growth. Market players are developing high-quality, innovative products to meet customer requirements.
The size of the global breakfast cereals market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights into the topic. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the breakfast cereals market.
Read the full report: https://www.reportlinker.com/p06295655/?utm_source=GNW
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