The Insight Partner
Breakfast Cereals Market is driven by the rising number of consumers with a busy lifestyle and no time to involve in long cooking processes.
NEW YORK, UNITED STATES, October 20, 2022 /EINPresswire.com/ — According to our latest market study, titled “Breakfast Cereals Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Ready to Eat and Ready to Cook), Category (Organic and Conventional), Type (Low Sugar and Regular), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)”. The breakfast cereals market is projected to reach US$ 57,482.17 million by 2028 from US$ 44,831.48 million in 2022. It is expected to grow at a CAGR of 4.2% during 2022-2028.
Global Breakfast Cereals Market Growth Values, Regional and Industry Scope:
Market Size Value in- US$ 44,831.48 million in 2022
Market Size Value by- US$ 57,482.17 million by 2028
Growth rate- CAGR of 4.2% from 2022 to 2028
Forecast Period- 2022-2028
Base Year- 2022
No. of Pages -198
No. of Tables- 111
No. of Charts & Figures- 78
Historical data available- Yes
Segments covered- Product Type, Category, Type, and Distribution Channel
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The demand for breakfast cereals is significantly rising due to the convenience they offer to consumers. The market is driven by the rising number of consumers with a busy lifestyle and no time to involve in long cooking processes. These products are mostly available in supermarkets, hypermarkets, and convenience stores, which constitute a significant market share in the distribution channel segment.
During the recent decades, women’s participation in labor has increased tremendously. According to the “International Labor Organization,” the female employment rate in Germany was 42.50% in 1990 and has increased to 54.91% by 2020. Similarly, the female employment rate in other countries, such as the US, France, Chile, and Mexico, has increased. This significant rise in women’s employment is strongly influencing the growth of the Breakfast Cereals market with the rising preference for convenience food.
Breakfast Cereals Market: Competitive Landscape and Key Developments
The Kellogg Company; WEETABIX; Bob’s Red Mill Natural Foods; General Mills Inc.; Nestlé SA; Nature’s Path Foods; The Quaker Oats Company; Carman’s Fine Foods Pty Ltd.; Calbee, Inc.; and Guilin Seamild Foods Co Ltd. are the key players operating in the global breakfast cereals market.
These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.
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Impact of COVID-19 Pandemic on Breakfast Cereals Market
The COVID-19 pandemic had initially affected the global breakfast cereals market due to the shutdown of manufacturing units, rising prices of raw materials, shortage of labor, disruption of supply chains, and financial instability.
Breakfast cereals are part of the food & beverages industry. The industry’s disruption due to the economic slowdown caused by the COVID-19 outbreak had restrained the demand for breakfast cereals. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation, leading to the rise in business activities worldwide. The pandemic has also collaterally resulted in the growth of the food & beverages industry post recovery from the production disruptions. The increased purchasing of packaged food and beverages has eventually aided the breakfast cereals market post the pandemic outbreak.
Breakfast Cereals Market Insights
Based on product type, the global breakfast cereals market size is segmented into ready to eat and ready to cook. Based on category, the market is segmented into organic and conventional. Based on type, the market is segmented into low sugar and regular. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others.
By geography, the breakfast cereals market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is segmented into Brazil, Argentina, and the Rest of South and Central America.
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Article originally published on www.einpresswire.com as Breakfast Cereals Market Size Worth $57,482.17 Million by 2028 | CAGR 4.2%
originally published at Global News - Social Gov