Global On-the-go Breakfast Products Market Exhibits Strong Growth Supported by Rising Demand Healthier and Better Quality Food
Having a breakfast at leisure is a thing of the past, especially in rapidly developing and developed countries due to the pace of life that has accelerated to mind boggling levels. More and more people are preferring convenient breakfast substitutes that can be consumed on the go or in the office, as per extensive research done by Future Market Insights in the year 2019.
Fast paced lifestyles and increasing participation of women in the workforce and longer commute times are all fuelling the demand for on-the-go breakfast products all over the world, especially in the fast growing Asia Pacific region and the developed regions of North America and the European Union. In addition, increasing urbanisation and the concept of nuclear families make working women juggle domestic and work responsibilities and consequently there is no time for making or having a leisurely breakfast, as the urban populace battles increasing work commutes and a dearth of time.
All these factors contribute heavily to the popularity of on-the-go breakfast products that are convenient, easy to consume and healthy as compared to sugary cereals.
In 2015, the global on-the-go breakfast products market was valued at nearly US$ 1,200 Mn, which is expected to reach US$ 1,500 Mn by 2021 end, registering a CAGR of 4.2% over the forecast period (2019 - 2026). The global on-the-go breakfast products market is expected to be valued at nearly US$ 1,900 Mn by the end of 2026. The market is estimated to represent incremental opportunity of more than US$ 600 Mn between 2019 and 2026.
Rising Demand for Improved Convenience Products Drives North America Market
In 2015, the North America on-the-go breakfast products market was valued at nearly US$ 270 Mn, which is expected to reach nearly US$ 330 Mn by 2021 end
- The North America on-the-go breakfast products market is expected to be valued at nearly US$ 415 Mn by the end of 2026, registering a CAGR of 4.4% over the forecast period
- The market is estimated to represent incremental opportunity of nearly US$ 150 Mn between 2019 and 2026
On-the-go Breakfast Products Market to Exhibit Higher CAGR in the U.S than Canada
In 2015, the on-the-go breakfast products market in the U.S. was valued at nearly US$ 200 Mn and is expected to register a CAGR of 4.7% over the forecast period to reach nearly US$ 320 Mn by the end of 2026
- The market in the U.S. is estimated to record incremental opportunity of nearly US$ 120 Mn between 2019 and 2026
- In 2015, the on-the-go breakfast products market in Canada was valued at nearly US$ 70 Mn and is expected to witness a CAGR of 3.3% over the forecast period to reach nearly US$ 100 Mn by the end of 2026
- The market in Canada is estimated to create incremental opportunity of US$ 27 Mn between 2019 and 2026
Demand for Healthier and Low-calorie Breakfast Boosts Growth Prospects in North America
Breakfast Cereals
- In 2015, the breakfast cereals segment was valued at nearly US$ 180 Mn and is expected to witness a CAGR of 4.1% over the forecast period to reach US$ 275 Mn by the end of 2026
- This segment is estimated to record incremental opportunity of more than US$ 90 Mn between 2019 and 2026
Dairy based Breakfast Drinks
- In 2015, the dairy based breakfast drinks segment was valued at nearly US$ 90 Mn and is expected to exhibit a CAGR of 4.8% over the forecast period to reach a market valuation in excess of US$ 140 Mn by the end of 2026
- This segment is estimated to create incremental opportunity of more than US$ 50 Mn between 2019 and 2026
Analyst Viewpoint
“Consumers are looking for more convenience and added nutrition in their breakfast”
Owing to a hectic lifestyle, increasing number of single person households and rise in the number of working women globally, consumers have a limited amount of time to prepare meals. This has led to a shift in consumer preference for foods that are healthy and offer convenience in terms of preparation.
Increasing consumer preference for convenient products has led manufacturers to offer on-the go breakfast food packed in pots. Demand for products with high fibre and protein content is increasing significantly in countries like the U.S., U.K., and Japan. Increasing demand for value-added products in various countries is prompting manufacturers to offer healthy breakfast products with additional nutrients.
FREQUENTLY ASKED QUESTIONS ABOUT ON-THE-GO BREAKFAST PRODUCTS MARKET
At what rate of growth will the on-the-go breakfast Product Market rise?
The global on-the-go breakfast product market is forecast to show a steady growth between 2019 and 2026. According to Future Market Insights, the market is likely to exhibit a CAGR of 4.2% during the aforementioned time-frame.
What is the present and future market potential of on-the-go breakfast market by product?
The global on-the-go breakfast product market is bifurcated into breakfast cereals and dairy-based breakfast drinks in terms of product. Of these, breakfast cereals are expected to remain the leading segment in the market
Which region will dominate the global on-the-go breakfast product market?
Western Europe is expected to hold the lion’s share in the global market, followed by North America.
What are the chief factors driving market?
Changes in living pattern and choice of preferences have fuelled the demand for ready-to-go meals. This in turn is driving the on-the-go breakfast products market.
Which segment based on distribution channel will report the highest CAGR through the forecast period?
In terms of distribution channel, increasing sales in hypermarket/supermarket will give considerable impetus to the on-the-go breakfast products market.
Key Market Segments
By Type
- Breakfast Cereals
- Dairy based Breakfast Drinks
By Distribution Channel
- Hypermarket/Supermarket
- Retail Stores
- Convenience Stores
- Online Selling
- Others (Direct Selling)
By Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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