Enjoy complimentary customisation on priority with our Enterprise License!
The ready-to-eat (RTE) breakfast cereal market is estimated to grow at a CAGR of 5.67% and the size of the market is forecast to increase by USD 5,697.8 million between 2022 and 2027. The growth of the market depends on several factors, including increasing demand for RTE breakfast cereals, expanding vegan population base, and product launches.
This report extensively covers market segmentation by distribution channel (offline and online), type (corn, wheat, rice, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The expanding vegan population base is notably driving the market growth, although factors such as the rise in food safety concerns may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The expanding vegan population base is notably driving the market growth. Veganism is a lifestyle choice that discourages animal cruelty. A vegan diet is a part of the vegan lifestyle. It is a way of living that seeks to exclude all forms of exploitation and cruelty to animals for food. The growing popularity of this lifestyle has propelled the sales of RTE breakfast cereals.
Over the years, the vegan population base has increased. The rising veganism population and the awareness of the impacts of meat consumption are driving the demand for meat-free products in countries, such as the US. The appeal of vegan products is significantly extending beyond the small groups of people who avoid meat products for ethical reasons to the much larger base of consumers who now seek healthy food. Moreover, vegan products attract vegetarians primarily because consumers associate vegan diets with healthier and cleaner ingredients. Therefore, the shift to veganism will drive the global market during the forecast period.
Increasing internet and e-Commerce users are an emerging trend in the market. The ready-to-eat (RTE) breakfast cereal market is growing as more consumers are opting to purchase cereal products online. This trend is driven by the increasing internet and e-commerce users, as well as the growing number of smartphone users. New market players are entering the market for online distribution, and established companies such as Amazon.com Inc. are also expanding their presence in the market. Online distribution channels allow cereal manufacturers to reach consumers in remote locations, and subscriptions offered by e-commerce companies help consumers easily repurchase cereal products. These factors are expected to drive market growth during the forecast period.
The rise in food safety concerns is a major challenge facing the RTE cereal market. Health risks associated with the consumption of RTE cereals, such as chronic kidney diseases, dementia, diabetes, and other health-related issues, can impede the market growth. These cereals are often processed and stored at low temperatures to increase shelf life, but this can also lead to the substitution of healthier ingredients with low-cost alternatives, artificial extracts, and sweeteners. Additionally, RTE cereals are often high in fats and calories, which can contribute to obesity if consumed regularly. These concerns about food safety and health risks can hinder the growth rate of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global RTE Breakfast Cereal Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alara Wholefoods Ltd. - The company under this segment operates as a producer of organic muesli and other organic food products. The key offerings of the company include RTE breakfast cereals.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. The offline distribution channel in the global ready-to-eat (RTE) breakfast cereal market includes supermarkets, hypermarkets, convenience stores, and other retail stores. Supermarkets and hypermarkets are popular distribution channels for the global market.
Get a glance at the market contribution of various segments Request a PDF Sample
The wide prevalence of organized retail is increasing the sales of these breakfast cereals. Large shelf spaces and storage areas in these stores accommodate a wide variety of products from vendors allowing consumers to choose based on their preferred flavors and brands. Furthermore, hypermarkets and supermarkets offer discounts and give away free products when consumers purchase products worth a certain amount, which increases sales through these channels. The increasing penetration of supermarkets and hypermarkets in developing economies such as China and India is driving the growth of the segment. Other factors contributing to the market growth include increasing disposable incomes and rapid urbanization shifting consumers' buying preferences from neighbourhood convenience stores to supermarkets and hypermarkets. Therefore, such factors will drive the growth of the segment during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Various lifestyle disorders in the region, such as high cholesterol, diabetes, obesity, and growing cardiac issues, have led people to consume low-cholesterol and fibre-rich nutrient food such as oat, wheat, and corn-based cereals. Additionally, there has been a recent trend of consuming whole grain and gluten-free breakfast cereals in the region. According to the American Heart Association, more than 70% of sodium comes from packaged, prepared, and restaurant food. Hence, vendors in the region also offer low-sodium breakfast cereals to address this challenge. With zero mg sodium per serving, these convenient, whole-grain breakfast cereal options are ideal for a healthy diet. Therefore these are the primary factors that will drive the regional market during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted the market in the region. However, by the end of 2020, the demand for packaged food and beverages rebounded as retail outlets such as grocery stores, convenience stores, hypermarkets, and supermarkets reopened in the region. Additionally, the pandemic also urged a change from eating out to cooking at home as consumers preferred healthier, safer, and more convenient food alternatives. This trend is expected to continue during the forecast period. Furthermore, vendors in the region are also launching new products to cater to this increased demand for their products. Hence, factors like these will drive the growth of the ready-to-eat (RTE) breakfast cereal market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
RTE Breakfast Cereal Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
167 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.67% |
|
Market growth 2023-2027 |
USD 5,697.8 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
5.43 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 36% |
|
Key countries |
US, Canada, China, Japan, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Alara Wholefoods Ltd., Associated British Foods Plc, B and G Foods Inc., Bagrry India Pvt. Ltd., Bobs Red Mill Natural Foods Inc., Calbee Inc., Food For Life Baking Co. Inc., General Mills Inc., Kellogg Co., Mohan Meakin Ltd., Mornflake, mymuesli AG, Nestle SA, Orkla ASA, Patanjali Ayurved Ltd., PepsiCo Inc., Post Holdings Inc., Pristine Organics Pvt. Ltd., The Hain Celestial Group Inc., and WW International Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
