According to a recent study, Future Market Insights projects that the global for on-the-go breakfast products market will rise at 4.2% CAGR from 2019 to 2026, reaching US$ 1,853.2 million by the end of 2026. In the report, titled “On-the-go Breakfast Products Market: Global Industry Analysis & Opportunity Assessment, 2019-2026,” Future Market Insights estimates that moderate consumption of on-the-go breakfast products in the world is factored by low consumer awareness. While the convenience in consuming & manufacturing packaged food products favours the growth in popularity of on-the-go breakfast products, a majority of consumers are likely to be less aware of the benefits of replacing regular breakfasts with such products
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.
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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
“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.
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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
Key Insights into Market
- Quaker Oats Company is expected to continue being recognised as one of the largest manufacturers of on-the-go breakfast products in the world.
- Throughout the forecast period, the demand for breakfast cereals will continue remain high, accounting for more than 65% of the global market revenues.
- Supermarkets will continue accounting for more than 50% of global distribution of on-the-go breakfast products.
- Expanding market presence through launch of new on-the-go breakfast products such as cereals, drinks or dairy-based items, will be a key strategy for Kellogg’s Co.
- Other companies partaking in the growth of global on-the-go breakfast products market includes, MOMA, Uncle Toby’s, Sanitarium, General Mills, Inc., Anchor, Bagrry’s India Ltd., Weetabix Ltd., and Nestlé S.A.
Key Market Segments
- Breakfast Cereals
- Dairy based Breakfast Drinks
By Distribution Channel
- Retail Stores
- Convenience Stores
- Online Selling
- Others (Direct Selling)
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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.
Table Of Content
1. Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Taxonomy
5. Global On-the-Go Breakfast Products Market Analysis Scenario
6. Market Dynamics
7. Global On-the-Go Breakfast Products Market Analysis and Forecast, By Product Types
8. Global On-the-Go Breakfast Products Market Analysis and Forecast, By Distribution Channel
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