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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Breakfast Food Market Size
The global breakfast food market was around USD 463.51 billion in the year 2023. The market is estimated to grow at a CAGR of 5.1% between 2024 and 2032, reaching a value of nearly USD 725.20 billion by 2032.
Key Trends in the Market
Breakfast food is the first meal of the day and is considered an important meal. It includes a variety of foods, such as cereals, snack bars, beverages, waffles, and pancakes. Breakfast foods can vary across cultures. For instance, while cereals, pancakes, and eggs, are common in the USA, Germans enjoy bread rolls served with meats, cheese, or spreads.
- Working consumers prefer breakfast from quick-service restaurants or fast-food establishments as they are convenient and time-saving. Brands seeking to attract these customers, need to pay attention to their demographics. For instance, while low household income shoppers are likely to spend at mass retail locations on toaster pastries, high-income millennials buy nutrition bars online.
- The popularity of organic foods is rising as these foods are grown naturally with no chemical inputs. As a result, they are safe for the environment and human consumption. Hence, consumers, worldwide are increasingly preferring organic breakfast foods, including fruits, bread, cereals, milk, and meat, which is expected to favour the breakfast food market demand.
- There is a surge in the number of people adopting vegan lifestyle around the world. As of 2022, there were 8 billion vegan people globally. These consumers support the demand for plant-based breakfast options such as protein powders and dairy alternatives for cheese, milk, and yoghurt, such as coconut yoghurt and oat milk yoghurt.
Breakfast Food Market Report Snapshots
Breakfast Food Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 463.51 billion.
The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032to reach USD 725.20 billion by 2032.
The major market drivers include the increasing preference for ready-to-eat breakfast foods, changing consumer lifestyles, rising demand for healthy organic breakfast foods, the prevalence of breakfast stalls/kiosks and convenience stores, and coffee shops selling a variety of breakfast foods, and rising urbanisation driving the demand for premium breakfast foods.
The key trends aiding the market expansion include rising awareness that breakfast is a crucial meal of the day, the launch of new breakfast cereals to cater to the needs of consumer’s taste preferences, a rising vegan population demanding plant-based breakfast foods, and a growing working population preferring convenient breakfast foods from quick service restaurants.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa.
The key distribution channels for breakfast food are supermarkets and hypermarkets, speciality stores, and online, among others.
The key players in the market are General Mills Inc., Conagra Brands, Inc., The Kellogg Company, Nestlé S.A., Dr. August Oetker Nahrungsmittel KG, Unilever Plc, The Kraft Heinz Company, Del Monte Food Inc., ITC Limited, and Pladis Foods Ltd., among others.
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