Breakfast Food Market

Breakfast Food Market - Overview

The global breakfast food market is projected to witness significant growth from 2021 to 2031 (forecast period). The appeal of several types of breakfast food products has increased significantly in recent years. The global breakfast food market is expected to grow substantially in the next years as a result of numerous fundamental factors, including increased urbanization in many industrialized and developing countries around the world. Furthermore, a rise in the global working-class population and increased attempts by industry competitors to offer their goods at competitive costs are likely to provide revenue-generation opportunities in breakfast food market.

Breakfast Food Market - Competitive Landscape

Leading players in the breakfast food market are The Hain Celestial Group, PepsiCo, Inc., The Kraft Heinz Company, General Mills, THE HAPPY EGG CO., HORMEL FOODS, NESTLE, Kellogg Co, Unilever, and Trillium Farm Holdings, LLC.

Companies in the breakfast food market are concentrating on the usage of various tactics to increase sales volume. Numerous breakfast food manufacturers, for example, are focusing more on raising awareness about the value of health and fitness. Such initiatives are expected to generate income potential in the breakfast food market.

Moreover, to attract their intended audience, players in the breakfast food market are boosting their spending on marketing and promotional operations. Furthermore, they are concentrating on novel value propositions related to health and fitness. These activities are projected to propel the global breakfast food market during the forecast period.

Breakfast Food Market - Trends and Opportunities

Increasing customer health awareness, as a result of the rising incidence of chronic diseases such as diabetes and obesity, is one of the primary aspects anticipated to drive the global breakfast food market. Accordingly, the busy schedules of the bulk of the working population have altered food preferences and dietary patterns, which is also projected to boost the market growth. Moreover, a growing consumer preference for organic, vegan, and gluten-free breakfast foods is prompting producers to introduce ready-to-eat and frozen options in different flavors and appealing packaging. Breakfast cereals, for example, are now available in a wide range of flavors, as are various other food items with low fat, sugar, and sodium content. Other factors, such as strong promotional efforts by manufacturers and the expansion of online retail platforms that offer consumers a seamless shopping experience, are expected to propel the global breakfast food market even further.

The COVID-19 outbreak has profoundly affected people's food preferences and habits all around the world. Consumers have resorted to healthful foods that boost the immune system. Cognitive health, digestive health, and weight management have also attracted attention, resulting in increased demand for food products branded with these concerns. Breakfast foods are the most influenced by this trend, with many new product introductions in 2020 for inexpensive, healthy, and easily digestible breakfast foods. Due to the increased interest in breakfast foods, the market is expected to gain a significant number of new customers in the near future.

Nevertheless, the outbreak also had a negative influence on the global breakfast food market in 2020, as seen by the reduced revenue of the majority of the market's major players. The main reason for the decrease in sales volume was the enforced lockdowns and shutdown of food service businesses. However, this decrease is partially compensated by a rise in domestic demand and the entry of new customers into the market. Online shopping is the most recent trend in the worldwide industry, with strong growth rates, and it is being aided by a change in consumer buying choices during the pandemic.

Breakfast Food Market - Regional Landscape

North America is anticipated to witness substantial growth in the global breakfast food market during the projected period due to the demand for organic breakfast foods such as organic bread, organic oats, and others, as well as a propensity for convenience breakfast foods such as packaged soup and nutrition bars.

Asia Pacific is projected to contribute significantly to the global breakfast food market owing to the region's explosive growth of the food and beverage sector, the existence of high-potential markets such as China and India, and a surge in urbanization.