Market Trends of Breakfast Food Industry
Rising Demand for Ready-to-eat Food
Due to busy lifestyles in developed and developing countries, a tendency to skip morning meals has emerged, mainly led by the millennial generation. Customers' increasing understanding of the concept and the importance of having breakfast at the start of the day have boosted the ready-to-eat food industry. Ready-to-eat foods are the nearest alternatives to traditional breakfast meals. The widespread consumer acceptance of such breakfast foods is expanding the ready-to-eat food category.
Consumers are more inclined toward food that provides nutrition, health, and safe food apart from the taste. Market players are manufacturing products that are easy to carry and ready to eat within a few minutes of cooking. For instance, in July 2021, J.M. Smucker Co.'s Uncrustables brand launched uncured pepperoni roll-ups and pepperoni bites for lunch times. Bread bites are made with marinara sauce, natural uncured pepperoni, and mozzarella cheese, while roll-ups are made with natural uncured pepperoni and 100% real provolone and Neufchâtel cheeses with seasoning. It takes less than 60 seconds to prepare.
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North America Holds Largest Share in the Market
The demand for breakfast foods in the global market is dominated by North America, followed by Europe. Market expansion in the region is driven by excess production capacity, purchase behavior, and consumption patterns. North American people are becoming health conscious, and they demand their food to be easy to cook and quicker to make. Due to the rising working population and college-going students in the region, ready meals and snack bars have become the trend.
Manufacturers are also focused on the health and wellness trend in North America, with an emphasis on youths and the working class. For instance, in October 2022, Campbell Soup Company launched four new soups with four different flavors such as Spicy Steak and potato, Spicy Chicken Noodle, Spicy Sirloin Burger, and Spicy Chicken and Gumbo. Consumers' changing lifestyles, including incorporating smaller meals, are leading to an increase in breakfast food consumption, which is likely to drive the demand for snack bars, cereals, and other breakfast foods in the region.
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