Global Breakfast Cereals Market Growth, Demand & Forecast to 2024
Breakfast cereal is a food mainly processed from grains or multiple grains such as oats, corns and others that is eaten as first meal of the day. Breakfast cereal grain is light and contains low cholesterol, high fiber and high nutrient.
Traditionally, home cooked food such as porridges, breads and buns, eggs and noodles were taken in breakfast but increasing adoption of ready to serve meals for the breakfast is escalating the global breakfast cereals market. Porridges, made up of barley, used to be a major breakfast meal, which is now replaced by fiber rich cereals. Breakfast cereal has become a nearly irreplaceable product of modern kitchen, owing to busy lifestyle and rapid modernization.
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Various lifestyle disorders such as high cholesterol, diabetes, obesity and growing cardiac issues have led people to consume low cholesterol and fiber rich nutrient food. Further, the factors such as tough dietary preferences and demanding lifestyles are also contributing to the growth of the global breakfast cereal market.
Various product types available in the global breakfast cereals market include wheat ingredient, corn ingredient, barley ingredient, oat ingredient and rice ingredient. The global breakfast cereals market can be broadly categorized as hot cereals and ready-to-eat (RTE) cereals. Further, ready-to-eat (RTE) cereals include multi-cereal flakes, cereals high in fiber, cornflakes, mueslis, and other wheat bran cereals. No preparation is required for ready-to-eat cereals and can be consumed directly; whereas, hot cereals requires preparation before consumption. The consumption of ready-to-eat cereals is more compared to hot breakfast cereals.
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Increasing number of convenience stores, growth of breakfast cereals in Asia-Pacific region, growing brand visibility, rising adoption of western food culture and increasingly shifting breakfast habits towards a healthier breakfast choices are some of the factors driving the growth of the global breakfast cereals market. New taste with different flavors, increasing obesity concerns and increasing new consumer groups extends further growth opportunities for global breakfast cereals market.
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Geographically, North America dominated the global breakfast cereals market in 2014; followed by Asia-Pacific. Asia-Pacific region is expected to be the fastest growing breakfast cereals market during the forecast period, attributed to intensifying disposable incomes, changing consumer preferences towards healthy breakfast options and innovative marketing.
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