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).
In today’s fast-paced world, leisurely breakfast meals are increasingly becoming a thing of the past. The rapid acceleration of daily life, especially in rapidly developing and developed countries, has driven a significant shift in dietary habits. As more people juggle demanding work schedules and longer commutes, the preference for convenient, on-the-go breakfast substitutes has surged. This trend is supported by extensive research conducted by Future Market Insights in 2019.
Key Drivers of Market Growth
The demand for on-the-go breakfast products is primarily driven by several critical factors:
- Fast-Paced Lifestyles: The global pace of life has reached unprecedented levels, leaving little time for traditional, sit-down breakfasts.
- Increased Workforce Participation: The growing participation of women in the workforce and longer commute times are significant contributors to the demand for quick and convenient breakfast options.
- Urbanization and Nuclear Families: The rise in urbanization and the prevalence of nuclear families require working women to balance domestic and professional responsibilities, leading to a preference for easy-to-consume breakfast products.
Market Valuation and Forecast
In 2015, the global on-the-go breakfast products market was valued at nearly USD 1,200 million. It is expected to reach approximately USD 1,500 million by the end of 2021, registering a compound annual growth rate (CAGR) of 4.2% over the forecast period from 2019 to 2026. By the end of 2026, the market is projected to be valued at nearly USD 1,900 million, representing an incremental opportunity of more than USD 600 million between 2019 and 2026.
Regional Insights
North America
The North American market for on-the-go breakfast products has shown substantial growth. In 2015, the market was valued at nearly USD 270 million and is expected to reach nearly USD 330 million by the end of 2021. By 2026, the market is anticipated to be valued at approximately USD 415 million, registering a CAGR of 4.4% over the forecast period. This represents an incremental opportunity of nearly USD 150 million between 2019 and 2026.
United States and Canada
In the United States, the on-the-go breakfast products market was valued at nearly USD 200 million in 2015 and is expected to register a CAGR of 4.7% over the forecast period, reaching nearly USD 320 million by the end of 2026. This represents an incremental opportunity of approximately USD 120 million between 2019 and 2026.
In Canada, the market was valued at nearly USD 70 million in 2015 and is expected to witness a CAGR of 3.3% over the forecast period, reaching nearly USD 100 million by the end of 2026. This represents an incremental opportunity of USD 27 million between 2019 and 2026.
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Product Segment Insights
Breakfast Cereals
The breakfast cereals segment was valued at nearly USD 180 million in 2015 and is expected to witness a CAGR of 4.1% over the forecast period, reaching USD 275 million by the end of 2026. This segment is estimated to record an incremental opportunity of more than USD 90 million between 2019 and 2026.
Dairy-Based Breakfast Drinks
The dairy-based breakfast drinks segment was valued at nearly USD 90 million in 2015 and is expected to exhibit a CAGR of 4.8% over the forecast period, reaching a market valuation in excess of USD 140 million by the end of 2026. This segment is estimated to create an incremental opportunity of more than USD 50 million between 2019 and 2026.
Market Segmentation
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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