Breakfast Food Market size in 2019 is estimated to be $25 billion, growing at a CAGR of 4.5% during the forecast period 2020-2025. Breakfast means breaking the fasting time of the night. It is one of the important diets in everyday food consumption. Fibre-rich ingredients foods such as fruits, nuts, breads & grains are mostly used in breakfast food. Growing health awareness among consumers and increasing demand of easy availability of breakfast food are the major factors driving the growth of the market. Moreover, new product innovation in breakfast and changing lifestyle further enhance the overall market demand for breakfast food during the forecast period 2020-2025.
Product Type – Segment Analysis
Based on the Product Type, Breakfast Food Market is segmented into Cereals, Beverages, Snack Bars, Bakery Products, and Others. The cereals segment is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 3.9% during the forecast period 2020-2025. This is mainly owing to innovation in flavours and ingredients in cereals. Moreover, it provides proteins & minerals and good source of antioxidants that can help lower the blood cholesterol levels that are contributing the growth of this segment.
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Source – Segment Analysis
Based on the Source, Breakfast Food Market is segmented into Wheat, Rice, Oat, Corn, Barley, and Others. In 2019, corn held the largest share in the breakfast food market. This is mainly owing to lower cholesterol level and increases energy of body. Moreover, it reduces the risk of anemia and provides healthy skin is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the breakfast food market share accounting for 43% of the market in 2019. This is mainly owing to increasing production capacity and changing consumer preference towards consumption patterns.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing awareness among people about health and changing lifestyle.
Drivers – Breakfast Food Market
Growing Health Awareness Among Consumers
Growing health awareness among consumers owing to increasing prevalence of chronic lifestyle diseases are some factors driving the growth of breakfast food market. Moreover, changing dietary patterns and increasing demand of low fat content breakfast items such as brown bread, salad are also set to increase the market growth.
Increasing Demand of Easy Availability of Breakfast Food
Rising demand of easy availability of breakfast food and rising demand of ready-to-eat breakfast product are some factors driving the growth of the market. Moreover, new product innovation in breakfast further contributing the growth of breakfast food market.
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Challenges – Breakfast Food Market
Busy life of consumers are challenging the growth of the market. According to Food and Drug Administration, 31 million people are skipping breakfast each day owing to busy schedule are further restraining its market growth during the forecast period 2020-2025.
Breakfast Food Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Breakfast Food Market. Breakfast Food top 10 companies are Kellogg’s, General Mills, Dr. Oetker, Nestle S.A., Del-monte , Healthy Choice, Kraft Heinz, McVitie’s, Unilever Ltd, and Campbell Soup Company.
On April 2017 Dr. Oetkar has launched new product, peanut butter which are packed with monosaturated fatty acids that helps to lower the bad cholesterol.
On 2 July 2018 Nestle India launched NESPLUS for breakfast food that provides a wholegrain and multigrain that helps to provide high quality nutritious breakfast option.
In 2019, North America dominates the breakfast food market owing to increasing production capacity and changing consumer preference towards consumption patterns.
Growing health awareness among consumers and increasing demand of easy availability of breakfast food is driving the market growth of breakfast food.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the breakfast food market report.
Busy life of consumers are challenging the growth of the market.
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