The breakfast food market has grown significantly, increasing from $431.68 billion in 2023 to $457.71 billion in 2024, with a CAGR of 6.0%. This growth is driven by the increased production of staples such as cereals, eggs, and dairy products, rising disposable incomes, the spread of American-style breakfasts, the need for quick and convenient options, and a growing working population. The market is expected to continue its strong growth, reaching $584.44 billion by 2028 at a CAGR of 6.3%. Future growth is supported by growing consumer awareness, environmental sustainability, catering to vegan and vegetarian preferences, rising demand for ready-to-eat meals, and increased net sales of breakfast foods. Key trends include the rise of plant-based and alternative protein sources, new product launches with added nutrients, a variety of brands, frozen and ready-to-eat alternatives, and instant breakfast cereals.
Major Driver In The Breakfast Food Market
The rising demand for convenience foods is expected to boost the breakfast food market. Convenience foods, designed for easy consumption with minimal preparation, are becoming more popular due to heightened health awareness, increased disposable incomes, and a preference for ready-to-eat meals. Breakfast foods, which offer quick and nutritious options, are integral to this trend. The total value of U.S. processed food exports reached $36.59 billion in 2023, marking a 1.7% increase from previous years, according to the United States Department of Agriculture. The growing interest in convenience foods is anticipated to propel the growth of the breakfast food market.
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Breakfast Food Market Competitive Landscape
Nestle S.A., PepsiCo Inc., Unilever PLC, Starbucks Coffee Company, The Kraft Heinz Company, General Mills Inc., Associated British Foods (ABF) PLC, The Kellogg Company, Hormel Foods Corporation, Conagra Brands Inc., Campbell Soup Company, Del Monte Food Inc., Dr. Oetker, Britannia Inc., The Hain Celestial Group, Kodiak Cakes, Beyond Meat, Impossible Foods Inc., Eat Just Inc., Annie's Homegrown
Key Breakfast Food Market Trend
The breakfast food market is seeing innovation as companies introduce healthier options like millet and jowar-based breakfast cereals to appeal to health-conscious consumers. For example, in June 2023, Switzerland-based Nestle launched KOKO KRUNCH Millet-Jowar and MUNCH breakfast cereals in India. These products include a combination of nutritious millet and jowar with traditional ingredients such as rice and wheat, offering a healthier breakfast alternative.
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Breakfast Food Market Segmentation
The breakfast food market covered in this report is segmented –
1) By Type: Breakfast Bars, Cereal Meals, Sausages And Salamis, Beverages, Bakery Products, Other Types
2) By Packaging: Films And Wraps, Rigid Boxes, Pouches And Sachets, Bottles And Jars, Trays, Cans
3) By Form: Solid, Liquid
4) By Distribution Channel: Hypermarkets And Supermarkets, Independent Retail Stores, Specialty Stores, Convenience Stores, Online Sales Channel
By Geography:The regions covered in the breakfast food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the breakfast food market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Breakfast Food Global Market Report 2024 furnishes information about the global breakfast food market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
