Breakfast Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global Breakfast Food market is projected to grow at a CAGR of 4.6% during the forecast period (2020 - 2025).

• An increase in health awareness among people globally, making consumers preferring towards highly nutritious quick breakfast diets. Further, the increase in the number of fitness enthusiasts who demand healthy foods such as cereals, and snack bars on regular basis is driving the growth for the market during the forecast period.​
• The instant versions of hearty breakfast cereals are considered convenient and satisfying among consumers, worldwide. The flavor varieties of breakfast cereals along with its health-promoting traits are driving the global market.
• The breakfast sanctification has also prompted prominent companies operating in different processed food segments of  Asian Markets to diversify their offerings and enter into the breakfast cereals category. For instance: Britannia Industries, a major bakery, and dairy products manufacturer in India introduced new breakfast items such as oats and porridge in India.​

IMPACT OF COVID-19 ON THE MARKET

• As the lockdown was imposed in most part of the world, the habit of breakfast consumption at home improved significantly as major restaurants and cafes were shut for a considerable amount of time owing to pandemic situation. Moreover, rising health consciousness among the consumers in order to build immunity and sustain during the coronavirus outbreak, demand for healthy breakfast cereals, and snacks has significantly improved over the year, and likely to improve in the forecast period as well. Moreover, there is shift in general retailing as consumers became habitual of ordering their daily groceries online during the pandemic period. Hence, online retail segment is likely to attain an significant growth rate in the years to come.

Scope of the Report

The breakfast food market offers different product types such as cereals, beverages, snack bars, ready meals, and others. By distribution channel, the market is segmented under hypermarkets and supermarkets, specialist retailers, convenience stores, online retailers and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America and the Middle East and Africa.

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Key Market Trends

Rising demand For Ready-To-Eat Foods In Breakfast

The prevalence of hectic lifestyles across developed, as well as developing nations, has led to a trend of skipping breakfast meals, propelled mostly by the millennial segment. Therefore, this has resulted in leveraging the business of ready-to-eat food products owing to the increasing understanding of perception among consumers in devouring traditional breakfast meals throughout the day, thus considering RTE foods as the closest alternative to regular food. This segment is growing at a fast pace as a result of the high consumer acceptance for such breakfast food globally. Also, innovative products in functional ingredients, convenience, and organic foods and advancement in areas of packaging technology are expected to provide a future growth opportunity in the sector.

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