Global breakfast cereal market forecast to reach $36B by 2028

The global breakfast cereals market is expected reach a market size of $36 billion by 2028 with a compound annual growth rate of 4.21%, according to a new data forecast by ResearchandMarkets.com.

“The market is driven by changing consumer lifestyles, increasing health awareness, and the availability of a wide variety of cereal options,” said the forecast. “Breakfast cereal manufacturers constantly innovate to offer new flavors and textures to cater to consumer tastes. Major players heavily influence the market, but many smaller companies offer unique and niche cereal products, contributing to the industry’s competitiveness. Factors driving the growth of the breakfast cereals market include the increasing demand for healthy and convenient breakfast options, the introduction of new and innovative cereal products, and market expansion into new regions.”

The North American market is forecast to command “a significant share of the global breakfast cereals market due to the rising demand for convenient and healthy breakfast options. Consumers in the region, especially those with busy lifestyles, prefer quick and easy breakfast choices like breakfast cereals. Additionally, consumers’ growing health-consciousness drives the popularity of breakfast cereals marketed as healthy and nutrient-rich options.”

Ultimately, the report added, the breakfast cereal industry’s expansion will depend on “continuous innovation, product differentiation, and expanding distribution networks to reach a broader customer base.”