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North America Breakfast Cereals Market Outlook, 2027

North America Breakfast Cereals Market Outlook, 2027

Bonafide Research 30-11-2022 80 Pages Figures : 14 Tables : 22
Region : North America Category : Food & Beverages Food

1. Nestle SA

2. General mills Inc.

3. Kellogg Company

4. Nature's Path Foods Inc

5. PepsiCo Inc.

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In North America region, breakfast cereals are considered essential foods with more than 60% of households saying they are a regular part of their grocery basket. However, times have never been more challenging for these core products as competition for the breakfast dollar has strengthened considerably over the past decade or so. Owing to the increasing consumption of functional foods and meal replacements, the North American breakfast cereal market is expected to be the largest during the upcoming timeframe. Vendors across the region attract new customers to expand their footprints in emerging markets by providing innovative products. This is likely to drive the market's growth at a notable CAGR during the forecast period. According to the research report, "North America Breakfast Cereal Market Outlook, 2027," published by Bonafide Research, the market is anticipated to grow around 4% CAGR during 2022–2028. Eating a high-fibre intake of whole grains for breakfast offers several health benefits, such as boosting the immune system and promoting nutritional intake in children and youth. Young consumers spend most of their income on convenience foods, including ready-to-eat and ready-to-cook products, as less time and effort are required to prepare or plate these products. For instance, in 2020, Freshly Inc., the meal delivery service acquired by Nestle SA, launched a new product line for consumers to match their health and active lifestyles. Freshly Fit ready-to-eat meals are inspired by keto, paleo, and plant-based diet principles. The offerings include gluten-free, clean-label, and whole-food ingredients. Food manufacturers in the region are launching products with new flavour blends across the North American region. Furthermore, augmented government investment in the food industry is expected to provide an opportunity for regional market players during the upcoming timeframe. Based on the countries, the overall market is segmented into three countries, including the USA, Canada, and Mexico. Among them, the USA led the market in 2021 with the highest market share and is expected to lead the market during the forecast period too. Recently, General Mills, Minneapolis, has posted market share gains in US cereal in four consecutive years, and new hot cereal launches could provide an added boost. General Mills has launched Big G instant oatmeal varieties in the flavours of Lucky Charms, Cinnamon Toast Crunch, Trix, and Cocoa Puffs, which are gaining momentum. According to the report, the North American breakfast cereal market is segmented into two product types, including hot cereals and ready-to-eat cereals. Among them, ready-to-eat breakfast cereal dominates the whole market owing to the convenience it offers to consumers. As these are processed grain formulations suitable for consumption without further cooking, the market is primarily driven by consumers with a busy lifestyle. Whole grain-based ready-to-eat cereals are leading the market owing to the value addition in terms of micronutrients in these products. Also, the major companies are trying to blend organic and healthy ingredients in order to boost the sales of breakfast cereals. Furthermore, manufacturers are incorporating traditionally grown cereal grains such as quinoa into breakfast cereal products to create innovation. Based on the distribution channel, supermarkets, hypermarkets, and convenience stores' retail sales constitute a very significant share of the market, which is growing at a steady rate. Organic, natural, and health claims on breakfast cereals offer a potential future for baked products. Furthermore, the expansion of retail distribution channels is another factor contributing to rising sales in rural and Tier II cities. However, increased competition from artisanal food services offering a variety of fresh breakfast cereals impacted the region's packaged breakfast cereal sales. On the other hand, e-commerce is emerging as a major distribution channel across the region. Considerable revenues have been generated from the developed economies of North America due to the rapid adoption of the internet and mobile phones in the region. Online channels are better platforms for branded merchandise and delivering a richer and more personalized shopping experience. Key companies across the North American breakfast cereal market include General Mills, Inc., Alara Wholefoods Ltd., Nestle SA, Kellogg Company, PepsiCo, Inc., Bagrys India Ltd., Post Holdings, Inc., B&G Foods Inc., Archer Daniels Midland Company, and Bob's Red Mill Natural Foods Inc. Covid-19 Impacts: COVID-19 has significantly affected the North American breakfast cereal market. Some countries are severely affected, while others have managed to control the spread by implementing containment measures and maintaining social distance. Restaurants and cafes have been on the front lines of the crisis, and many have already been forced to close due to city-wide closures or a decline in customers due to social distancing. However, the breakfast cereal industry experienced a surge in demand during the COVID-19 pandemic owing to increased awareness about the health benefits provided by the same. Amid lockdown restrictions and work-from-home mandates, the consumption of breakfast cereals increased drastically in 2020, which is expected to witness higher growth during the upcoming timeframe. Major Companies present in the market: PepsiCo, Inc., Nestlé S.A., General Mills, Inc., The Kellogg Company, Nature's Path Foods, Associated British Foods plc, Dr. Oetker, Family Cereal (Custom Food Group), TreeHouse Foods Inc., Calbee, Inc., Post holding Inc., B&G Foods, Inc., McKee Foods Corporation, Bob’s Red Mill Natural Foods, Love Grown Foods Considered in this report • Geography: North America • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America Breakfast Cereal market with its value and forecast along with its segments • Country-wise Breakfast Cereal market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • United States • Canada • Mexico By Product Type • Hot Cereals • Ready-to-Eat (RTE) By Ingredient type • Wheat • Rice • Corn • Barley • Oats • Others By Distribution Channel • Supermarkets & Hypermarkets • Convenience Stores • E-commerce/Online • Others By Nature Type • Conventional • Organic The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to food & beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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