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Breakfast Cereal Market Size Worth $50.7 Billion by 2030: Grand View Research, Inc.
Breakfast is amongst the most important meals of the day since it refuels the body after a night of fasting. A nutritious breakfast boosts both children's and adults' mental and physical performance. Breakfast mostly consists of foods that are low in fat, and cholesterol, and abundant in vitamins and minerals. The expanding demand for ready-to-eat morning cereals highlights the market. Because of the rising health risks associated with highly processed foods, cereal consumption is crucial. As a result, demand for these products has risen as a result of changing lifestyles and a booming food industry.
The ready-to-eat (RTE) segment held the largest market share in 2021 and is expected to sustain its dominance during the forecast period due to the convenience offered by it. RTE cereals consumption is majorly driven by the millennial demographics, who have fast-paced lifestyles and less time for cooking breakfast. Further, increasing awareness about the importance of a healthy breakfast is influencing consumers to switch to the convenient RTE segment.
The emergence of COVID-19 has led to an increase in online buying of breakfast cereals. However, supermarkets & hypermarkets still dominated the market sales in 2021, accounting for nearly 50% of the overall global sales. The large-scale proliferation of supermarkets in the U.S., which is now becoming a significant factor in emerging economies as well, is propelling the sales of breakfast cereals through supermarkets & hypermarkets
As a result of the COVID-19 pandemic, health and well-being have become key trends in breakfast cereals. Consumers are increasingly looking for foods that will help increase immunity and are rich in vitamins, minerals, and antioxidants. For instance, in July 2021 Kellogg's RX brand launched a new cereal made with a plant-based protein called RX Cereal. RX Cereal uses a mix of pea protein, almonds, and brown rice to provide its protein. Each serving of the cereal contains 11 to 12 grams of protein and three to four grams of fiber depending on the flavor. The cereal comes in three varieties: Chocolate Almond, Vanilla Almond, and Strawberry.
The global market is fragmented in nature. The major players engaged in the market include PepsiCo, Nestlé, Marico, Calbee, Bagrry India Pvt. Ltd., General Mills Inc ., Kellogg Co., B&G Foods, Inc., and Nature's Path Foods., and Bob's Red Mill Natural Foods among others
Grand View Research has segmented the global breakfast cereal market on the basis of product, distribution channel, and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
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