The global breakfast food market size was valued at $398.1 billion in 2020, and is projected to reach $729.5 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030.
Breakfast food is the meal that is consumed most often in the early morning before starting with the day's work. Breakfast food includes oats, muesli, cornflakes and other cereals, eggs, yogurt, and RTE (ready to eat) breakfast food. Breakfast food is easily available in the market through various distribution channels including supermarkets, hypermarkets, convenience stores, and departmental stores, which drives the breakfast food market demand, in terms of value sales. Moreover, grab to go breakfast is one of the new trends gaining high traction in the global market.
Attractive marketing and promotion strategies of companies have helped in increasing health and fitness awareness among consumers. Innovative value propositions related to health and fitness offered by market players have considerably led to rise in net sales of their products. Key market players such as Unilever and Kellogg Company have heavily invested in television and social media advertising to increase awareness on improving health and fitness of consumers by consuming foods such as oats and packaged soups. Thus, all such factors collectively contribute toward the global breakfast food market growth.
The global breakfast food industry is segmented on the basis of product type, nature, sales channel, and region. By product type, it is classified into breakfast cereals, bakery products, dairy products, and others.
Depending on nature, it is divided into conventional and organic. As per sales channel, it is segregated into supermarkets/hypermarkets, specialty stores, online stores, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia & New Zealand, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and others).
By Nature
The Conventional segment dominates the global Breakfast Food market and is expected to retain its dominance throughout the forecast period.
On the basis of product type, the bakery product segment accounted for the highest breakfast food market share in 2020, and is expected to continue this trend during the forecast period. This is attributed to surge in demand for bakery items majorly bread, owing to busy lifestyle and increase in preference for fresh & ready-to-eat breakfast food. Surge in consumption of bakery products, especially packaged variety drive the overall growth of the market, in terms of values sales. However, the breakfast cereal segment is expected to be the fastest growing segment during the forecast period.
Depending on nature, the conventional segment dominated the global breakfast food market in 2020, owing to easy availability of breakfast food in the market through various sales channels, including supermarkets, specialty stores, convenience stores, and online stores. However, the organic segment is projected to grow at a notable rate during the forecast period.
By Product Type
The Bakery products segment dominates the global Breakfast Food market and is expected to retain its dominance throughout the forecast period.
As per distribution channel, the supermarkets/hypermarkets segment registered highest market share in 2020. The segment is gaining high popularity, owing to availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing propel popularity of supermarkets/hypermarkets in developed and developing regions. Furthermore, these stores offer variety of brands in the breakfast food product category, including breakfast cereals, bakery items, and dairy products, thus offering more options for customers to buy breakfast food as per their choice of flavors, types, price range, and others. However, the online segment is expected to witness a significant growth during the breakfast food forecast period.
Region wise, North America garnered highest market share in 2019, owing to rise in adoption of healthy lifestyle in the region, which leads to rise in demand for breakfast food. However, Asia-Pacific is anticipated to exhibit fastest growth during the breakfast food market forecast year.
By Distribution Channel
The Supermarket/Hypermarket segment dominates the global Breakfast Food market and is expected to retain its dominance throughout the forecast period.
COVID-19 Impact Analysis
- COVID-19 has positively impacted growth of the breakfast food market.
- This is attributed to the fact that during the COVID-19 outbreak, consumers have become more concerned about their overall health and wellness, as COVID-19 has impacted mental and physical well-being. This, in turn, has driven consumers toward healthy breakfast food.
- Consumers across the globe are now seeking for healthy foods & beverages, including healthy breakfast to keep themselves, which, in turn, is expected to propel growth of the market in the future.
Key players operating in the global breakfast food market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global industry analyzed in this report include PepsiCo, Inc., General Mills, The Kraft Heinz Company, NESTLE, The Hain Celestial Group, THE HAPPY EGG CO., HORMEL FOODS, Kellogg Co, Trillium Farm Holdings, LLC, and Unilever.
By Region
The North America segment dominates the global Breakfast Food market and is expected to retain its dominance throughout the forecast period.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current breakfast food market trends, estimations, and dynamics of the market size from 2021 to 2028 to identify the prevailing opportunities.
- The key countries in four major regions have been mapped depending on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and market size and segmentation assist to determine the prevailing breakfast food market opportunities.
- Major countries in each region have been mapped according to their revenue contribution to the global industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes regional as well as global breakfast food market analysis, key players, market segments, application areas, and growth strategies.
Breakfast food Market Report Highlights
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Analyst Review
The global breakfast food market has witnessed significant growth over the years and is expected to grow at a steady pace during the forecast period. This is attributable to rise in number of health-conscious consumers across the globe who are increasingly willing to spend on healthy food products, including breakfast food.
According to the key market players, increasing consumer demand for convenience food across the globe boosts growth of the breakfast food market. Thus, the key players are focused on investing in R&D activities to launch improved products for consumers and maintain their position in the market.
According to some key breakfast food companies, rise in trend using convenience food especially among the working class due to their busy lifestyle has fueled the demand for breakfast food across the globe. Moreover, key manufacturers are providing breakfast food in different attractive packaging including bottles, cups and more available in with different portion size to make consumption easy and convenient for consumers. This in turn is fueling the growth of the breakfast food market.
However, the easy availability of counterfeit product in the market globally is hampering the growth of the breakfast food market in terms of value sales.
The global breakfast food market is projected to register a CAGR of 6.3% from 2021 to 2030.
The global breakfast food market size is projected to reach $729.5 billion by 2030.
Rising number of health conscious consumers along with rising demand for the convenience food are the top impacting factors of Breakfast Food market growth.
The major players in the breakfast food market include PepsiCo, Inc., General Mills, The Kraft Heinz Company, NESTLE, The Hain Celestial Group, THE HAPPY EGG CO., HORMEL FOODS, Kellogg Co, Trillium Farm Holdings, LLC, and Unilever.
The global breakfast food industry is segmented on the basis of product type, nature, sales channel, and region.
Partnership, acquisition and product launch were the key growth strategies adopted by the breakfast food market players.
By Product Type, bakery products segment is expected to exhibit the highest Share during the forecast period.
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