The Breakfast Cereal Global Market Expects Steady Growth, Surpassing $83 billion by 2028

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How Much Has The Breakfast Cereal Market Grown In Recent Years, And What Are The Drivers For This Growth?

The breakfast cereal market size has witnessed notable growth in recent years, reaching from $64.11 billion in 2023 to $67.89 billion in 2024 at a compound annual growth rate CAGR of 5.9%. This expansion during the historical period is primarily driven by consumers' shift towards convenient breakfast options, advertising and branding campaigns, increased health and nutritional awareness, innovations in packaging and portability, as well as cultural and regional breakfast habits.

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Are There Predicted Trends For The Breakfast Cereal Market Beyond 2024?

Indeed, the breakfast cereal market is projected to experience substantial growth in the coming years, rising to $83.1 billion in 2028 with a CAGR of 5.2%. This forecasted growth can be attributed to the increasing emphasis on health and wellness, sustainable practices, the usage of plant-based and functional ingredients, global culinary influences, and strategies targeting specific demographics. Apart from these factors, major trends influencing the future growth of the market include innovations in shapes and textures, sustainable packaging practices, customization and personalization of products, increasing digital engagement and marketing, and the introduction of protein-enriched options.

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What Is Driving The Profit Margins For Food And Beverage Companies, Including Breakfast And Cereal Manufacturers?

One crucial driver to note is the falling prices of crops due to overcapacity in many countries globally. This pattern is projected to result in lower raw material costs for food and beverage companies, leading to increased profit margins. For example, in November 2022, a bailout package of $842 million was announced by the Cabinet Committee on Economic Affairs for farmers in the sugar production sectors in India, as reported by Frontline, a national magazine on agriculture. This package was intended to set a minimum selling price and create a buffer stock of sugar due to a recent price drop caused by overproduction. Overproduction of certain crops is therefore likely to result in higher profit margins for food and beverage companies, including breakfast and cereal manufacturing companies, potentially leading to increased productivity and market growth onwards.

What Players Dominate The Breakfast Cereal Market?

Key industry players involved in the breakfast cereal market include Nestlé S.A., PepsiCo Inc., Abbott Nutrition, The Kraft Heinz Company, Associated British Foods plc, General Mills Inc., Kellanova, The Campbell Soup Company, Post Holdings Inc., Gruma S.A.B. de C.V., and more. They have continuously shaped the market landscape and contributed to its growth.

What Are The Emerging Trends In The Breakfast Cereal Manufacturing Industry?

Breakfast cereal manufacturing companies are progressively adopting robotic and automation technology to maximize production efficiency. Systems like these automate the batching, conveying, processing, storage, and packaging of cereal products, reducing production cycle time and boosting output. The automation process in these plants is also enhancing plant conditions, reducing contamination, and minimizing human interaction, making the whole process safer for both workers and consumers.

The breakfast cereal market is segmented as follows:

1 By Type: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal
2 By Product: Ready-to-Eat RTE, Hot Cereals
3 By Packaging: Boxes, Pouches, Other Packagings
4 By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Asia-Pacific was the largest region in the breakfast cereal market in 2023, followed by North America falling second in place. The report provides comprehensive coverage of various geographical regions, such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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