Global Breakfast Food Market - Growth, Trends and Forecasts (2018 - 2023)
The Global Breakfast Food Market size in 2016 was estimated USD 9.2 billion and is estimated to increase at a compound annual growth rate (CAGR) of 5.1% during the forecast period (2018 - 2023). is expected to grow at a CAGR of 4.6% during the forecast period (2018 - 2023). Kellogg\'s is raising its stake in the all-day breakfast segment and has opened a new cafe in New York City, with dishes made entirely from the company’s cereals. New Product Innovations in Breakfast Consumer preference for breakfast food is based on their nutrient levels, and health benefits. The primary factors considered are fat content, cholesterol level and other similar factors. Around 60% of consumers prefer high-fiber products for breakfast which is an important factor driving the market growth.
Another important factor is the quality of packaged food, where organic pre-packaged food has high-preference. As the health-conscious population is growing globally, the preference for breakfast is increasing, which is a key driver for the breakfast food and services market, worldwide. Breakfast Cereals Market Holds Major Share in Breakfast Food Market The global breakfast food market is segmented into breakfast cereals, beverages, snack bars, ready meals and others. The largest share of breakfast food market is held by breakfast cereals, closely followed by the ready meals segment. The breakfast-food formulators use grains with high-fiber, dairy products, fruits and vegetables for making the healthier products. There has been a decline in the consumption of sugary cereals. Asia-Pacific the Fastest Growing Region The North America market holds the majority of 26% in the global breakfast food market demand, followed by Europe. Asia-Pacific is predicted to grow at a faster rate over the forecast period 2018-2023.
Consumers in Asian countries like China and India prefer hot cereals containing rice or wheat as major ingredients. These nations are anticipated to register a high growth rate owing to rise in consumer preferences for ready to eat meals coupled with busy lifestyles in this region. The breakfast pattern of the US consumers has changed from the past. Ready-to-eat cereal is the largest breakfast category in the US The frozen breakfast food products market is on the rise, as sales of frozen waffles, pancakes and French toast have jumped by 4.5% (CAGR), as the preferred choice of working population.
KELLOGG\'S, GENERAL MILLS, DEL-MONTE, NESTLE, MCVITIE\'S, KRAFT HEINZ, HEALTHY CHOICE, UNILEVER, DR. OETKER, BRITANNIA, Inc., HERITAGE FOODS
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Global Breakfast Food Market Research Report
• Value chain analysis
• Consumer behavior analysis in country level
Published By: Mordor Intelligence
Published Date: Q1 2018