According to Future Market Insights research, during the projected period, the Porridges market is expected to grow at a CAGR of 5.5%. The market value is projected to increase from US$ 591.6 million in 2022 to US$ 1,010.5 million by 2032. The Porridges market was valued at US$ 567.2million at the end of 2021 and is anticipated to exhibit a CAGR growth of 4.3% from 2016 to 2021.
Market Size Value in 2022
US$ 591.6 million
Market Forecast Value in 2032
US$ 1,010.5 million
Global Growth Rate (2022 to 2032)
5.5%CAGR
Forecast Period
2022 to 2032
CAGR of the United Kingdom in Europe
5.9%
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Introduction
Large numbers of single people and working women have caused consumers' preferences for fully prepared breakfast food products to change. Porridges are breakfast foods produced from starchy plants, particularly grains like wheat, barley, oats, and others.
Porridge is currently being positioned and promoted to consumers as an immediate, ready-to-eat breakfast choice. The market is anticipated to develop during the forecast period due to rising customer preference for convenience food items and rising consumption of breakfast foods with added health benefits.
Comparing historical outlook and projections for the world's Porridges
A new report published by Future market insights, titled, Porridges Market - Global Opportunity Analysis and Industry Forecast, 2022 to 2032, projects the global Porridges market to reach US$ 1,010.5 million by 2032. The market was valued at US$ 459.5 million in 2016 and is expected to grow at a CAGR of 5.5% from 2022 to 2032.
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Country-wise Insights
What is the overview of the market of Porridges in the world?
The global porridge market is further divided by geography, with the Middle East, Africa, and Asia Pacific excluding Japan, North America, Latin America, Western Europe, Eastern Europe, and Japan included. Geographically, Western Europe is anticipated to be the leading porridge marketplace in terms of value, as consumers' preferences for easy breakfast options are on the rise. In terms of porridge consumption, the United Kingdom is predicted to continue to lead the other nations, followed by Germany.
What is the outlook of North America in the market of Porridges in the world?
The porridge market in North America has a promising future. According to FMI experts, the industry will keep expanding due to rising supply and demand. The porridge market in North America has expanded significantly in recent years. A number of variables, including an increase in demand from both consumers and corporations, are to blame for this. The market's recent expansion is the result of a variety of factors. An increase in demand from both consumers and corporations is among the most significant. This is because people are becoming more aware of the advantages of porridges, including their high nutritional value and capacity to aid in weight loss.
What is the outlook of Asia Pacific in the market of Porridges in the world?
The porridge market is predicted to grow quickly in Asia Pacific. China is anticipated to consume the most porridge in the area. The country's market growth is anticipated to be supported by ongoing new product launches. Singapore is also anticipated to constitute a potential market among ASEAN nations in terms of consumption volume and value. The growth in the region is driven by the rising population, growing income levels, and changing lifestyle patterns. The region is also witnessing a growing demand for convenient and healthy food options.
The Asia Pacific region accounts for a significant share of the global porridge market due to the large population and growing income levels. The market in the region is further bolstered by the changing lifestyle patterns and rising demand for convenient and healthy food options.
Category-wise Insights
What are the major drivers for Porridges in the Market?
The global market for porridges is anticipated to be driven by an increase in working women and the number of single people worldwide. Additionally, throughout the course of the forecast period, the market is anticipated to develop as a result of the ongoing launch of novel porridge products including porridges with fruits and nuts.
During the projected period, manufacturers' active advertising campaigns aimed at raising customer awareness are anticipated to fuel market expansion. Additionally, rising demand for convenience breakfast goods and rising per capita spending on prepared food are anticipated to support market expansion in the near term.
What is the different source for the extraction of Porridges?
There are three main sources for the extraction of porridges: oats, barley, and wheat. Oats are the most popular source of porridge, as they are high in fiber and have a nutty flavor. Barley is also a common source of porridge, as it is rich in vitamins and minerals. Wheat is less commonly used for porridge, as it has a higher gluten content and can be difficult to digest.
What is the major application for Porridges in the Market?
Porridges are a type of food that is made by boiling oats or other grains in water or milk. They are usually eaten for breakfast, but can also be eaten as a snack or dessert.
There are many different types of porridge, including oatmeal, rice, barley, and wheat. Porridges can be sweetened with honey or sugar, or savory with salt and pepper.
The major application for porridges in the market is as a breakfast food. They are quick and easy to make and can be eaten hot or cold. Porridges are also a healthy option for breakfast, as they are high in fiber and low in calories.
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Supermarket and Industrial Distributors Are Propelling the Growth Porridges in Market-
The Porridges in the market are expected to grow at a CAGR of 5.5% during the forecast period of 2022 to 2032. The global porridge market is also segmented on the basis of distribution channel which includes hypermarket/supermarket, retail stores, convenience stores, online, and others. Among all these segment hypermarket/ supermarkets is expected to account for a relatively higher value share over the forecast period.
Increasing penetration of the retail industry especially in developing countries is expected to support the segment growth in the porridge market over the forecast period. Convenience stores are further expected to account for favorable growth during the forecast period.
Competitive Landscape
In a world filled with instant oatmeal and microwaveable oatmeal packets, it can be easy to forget about the humble porridge. But this humble breakfast food is making a comeback, thanks to the growing demand for healthy, whole foods.
While there are many brands of porridge on the market, the competitive landscape is fairly limited. The top three brands - Quaker, Old Fashioned oats, and McCann's Irish Oatmeal - hold a combined market share of 80%. This leaves little room for smaller brands to compete.
The reason for this limited competition is that porridge is a fairly simple product to make. There are only a few key ingredients - oats, water, milk - and the manufacturing process is not complex. This means that there are relatively few barriers to entry for new brands looking to enter the market.
Porridges have been a staple food in many cultures for centuries. With the rise of health consciousness and the popularity of plant-based diets, porridges are enjoying a renaissance. The porridge market is growing and becoming more competitive. Here's a look at the current landscape of porridge markets.
There are two main types of porridge: savory and sweet. Savory porridge is usually made with grains like rice, oats, or barley. They can be flavored with vegetables, meat, or fish. Sweet porridge is made with fruits, nuts, and sweeteners like honey or syrup. Porridges are typically made from oats, rice, wheat, or other grains. They are usually cooked in water or milk and can be sweetened or savory. Porridges can be served hot or cold and are a popular breakfast food in many parts of the world.
Porridges Market Report Scope
Attribute
Details
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2022
Market Analysis
US$ million for Value and Units for Volume
Key Regions Covered
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
Key Countries Covered
USA
Canada
Mexico
Germany
United Kingdom
France
Italy
Spain
China
Japan
India
South Korea
Australia
Brazil
Argentina
South Africa
UAE
Key Segments Covered
By Type
By Source
By End-user
By Region
By Distribution Channel
Key Companies Profiled
Quaker Oats Company
Kellogg Co.
General Mills Inc.
Dole Food Company Inc
Weetabix Limited
H. J. Heinz Company
Report Coverage
Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Porridges Market segmentation
By Type, the Porridges Market is segmented as:
Beta-Sitosterol
Camp Sterol
Stigmasterol
By End-use, the Porridges Market is segmented as:
Food And Beverage
Dietary Supplements
By Source, the Porridges Market is segmented as:
Rice
Barley
Oats
By Distribution channel, the Porridges Market is segmented as:
Pharmacies/Drugstores
Health & Beauty stores
Hypermarket/Supermarket
Direct Selling
Online
By Region, the Porridges Market is segmented as:
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
Frequently Asked Questions
What is the market Share value of Porridges in 2022?
The global Porridges market will reach a valuation of US$ 591.6 Million by the end of 2022.
What is the demand outlook forecast for the Porridges market?
The global Porridges market is forecasted to surpass US$ 1,010.5 Million by the end of 2032.
Which are the major countries driving demand for Porridges Market?
USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Porridges Market.
What is the, USA PAorridges Market Outlook?
The USA Porridges Market is contributing 30.1% of the total value share in the global market.
What is the, Germany Porridges Market Outlook?
The German Porridges Market is contributing 29.6% of the total value share in the global market.
What is the, Japan Porridges Market Outlook?
In Japan Porridges Market is contributing 11.8% of the total market share which be valued in the year 2022.
What is the, India Porridges Market Outlook?
In India Porridges Market is contributing 5.4% of CAGR for the latest period.
What is the, China Porridges Market Outlook?
In China Porridges Market is contributing 4.9 % of CAGR for latest period.
What is the, Australia Porridges Market Outlook?
In Australia Porridges Market is contributing 2.9% of the total value share in the global market.
