Having breakfast at leisure is becoming a rarity, especially in rapidly developing and developed countries where the pace of life has accelerated significantly. Extensive research by Future Market Insights reveals that more people prefer convenient breakfast substitutes that can be consumed on the go or in the office. This trend is particularly noticeable in the fast-growing Asia Pacific region and the developed regions of North America and the European Union. As lifestyles become more hectic, and with the increasing participation of women in the workforce, longer commute times, and urbanization, the demand for on-the-go breakfast products continues to rise.
The global on-the-go breakfast products market was valued at nearly US$ 1,200 million. This value is expected to reach US$ 1,500 million by 2021, registering a CAGR of 4.2% over the forecast period (2019-2026). By the end of 2026, the market is projected to be valued at nearly US$ 1,900 million, representing an incremental opportunity of more than US$ 600 million 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 million. This figure is expected to reach nearly US$ 330 million by the end of 2021. By 2026, the North America market is projected to be valued at nearly US$ 415 million, registering a CAGR of 4.4% over the forecast period. The market is estimated to represent an incremental opportunity of nearly US$ 150 million between 2019 and 2026.
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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 million and is expected to register a CAGR of 4.7% over the forecast period, reaching nearly US$ 320 million by the end of 2026. The market in the U.S. is estimated to record an incremental opportunity of nearly US$ 120 million between 2019 and 2026.
In Canada, the market was valued at nearly US$ 70 million in 2015 and is expected to witness a CAGR of 3.3% over the forecast period, reaching nearly US$ 100 million by the end of 2026. The market in Canada is estimated to create an incremental opportunity of US$ 27 million 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 million and is expected to witness a CAGR of 4.1% over the forecast period, reaching US$ 275 million by the end of 2026. This segment is estimated to record an incremental opportunity of more than US$ 90 million between 2019 and 2026.
Dairy-based Breakfast Drinks: In 2015, the dairy-based breakfast drinks segment was valued at nearly US$ 90 million and is expected to exhibit a CAGR of 4.8% over the forecast period, reaching a market valuation in excess of US$ 140 million by the end of 2026. This segment is estimated to create an incremental opportunity of more than US$ 50 million between 2019 and 2026.
“Consumers are looking for more convenience and added nutrition in their breakfast,” says Nandini Roy Choudhury, Principal Consultant at Future Market Insights. Owing to hectic lifestyles, an increasing number of single-person households, and a rise in the number of working women globally, consumers have limited 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 foods packed in pots. Demand for products with high fiber and protein content is increasing significantly in countries like the U.S., U.K., and Japan. The growing demand for value-added products in various countries is prompting manufacturers to offer healthy breakfast products with additional nutrients.
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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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 steady growth between 2019 and 2026, with a projected CAGR of 4.2%.
- What is the present and future market potential of the on-the-go breakfast market by product? The global market is bifurcated into breakfast cereals and dairy-based breakfast drinks. Breakfast cereals are expected to remain the leading segment.
- 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 the market? Changes in living patterns and preferences have fueled the demand for ready-to-go meals, driving the on-the-go breakfast products market.
- Which segment based on distribution channel will report the highest CAGR through the forecast period? Increasing sales in hypermarket/supermarket distribution channels will provide considerable impetus to the market.