NEW YORK, Feb. 16, 2024 /PRNewswire/ — The breakfast food market is expected to grow by USD 125 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 5.31% during the forecast period. The market share growth by the offline segment will be significant during the forecast period. In 2022, the offline distribution channel proved to be more profitable for the global breakfast foods market. People find it easy and convenient to purchase food products from supermarkets, convenience stores, and local grocery stores. Offline sales channels are trusted more by consumers than online stores as they can see and inspect the products before buying. This can lead to higher sales and popularity of breakfast foods in offline channels. Moreover, physical stores offer various promotions and discounts that can attract customers and increase the popularity of certain food products. As a result, vendors in the market are collaborating with retailers to increase product visibility and expand their geographical presence. To know additional highlights and key points on various market segments and their impact in coming years, View Free PDF Sample Report.
Technavio has announced its latest market research report titled Global Breakfast Food Market 2023-2027
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2022 |
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Historic period |
2017 – 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
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Market growth 2023-2027 |
USD 125 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.36 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 30% |
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Key countries |
US, China, Japan, India, and Germany |
Frequent breakfast product launches are notably driving the growth. However, factors such as Fluctuations in food prices may impede market growth. Technavio provides a comprehensive report summary describing the size and forecast along with research methodology. The Free sample report is available in PDF format.
The market is segmented by Distribution Channel (Offline and Online), Product Type (Bakery products, Ready meals, Cereals, Snack bars, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
North America is estimated to contribute 30% to the growth during the forecast period. The indiustry in North America is significant in terms of its size and is experiencing steady growth. Factors such as evolving consumer preferences, busy lifestyles, and the increased popularity of on-the-go breakfast options have contributed to the expansion. Traditional breakfast foods like cereals, milk, eggs, bacon, sausages, and bread are still the top choices among consumers, and they continue to dominate the regional business
Company Insights
The breakfast food market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete. The report analyzes the competitive landscape and offers information on several companies, including: Nestle SA, General Mills Inc., Kellogg Co., PepsiCo Inc., The Kraft Heinz Co., Del Monte Foods Inc., Unilever PLC, ITC Ltd., pladis Foods Ltd., Dr. August Oetker Nahrungsmittel KG, Conagra Brands Inc., The Hain Celestial Group Inc., Happy Egg Co. USA., Hormel Foods Corp., Versova, Aussee Oats Milling Pvt Ltd, Hildur Functional Foods Pvt. Ltd., Campbell Soup Co., Starbucks Corp., and Mars Inc. View PDF Free Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
In the Breakfast Food Market, where global health awareness is on the rise, customers seek nutritious breakfast diets to combat health issues like obesity, diabetes, high cholesterol, and high blood pressure. Fitness enthusiasts prioritize cereals and snack bars, which offer instant energy for workouts. As an alternative for breakfast, these products cater to the busy lifestyles of individuals. The industry anticipates significant growth, driven by the increasing demand for healthier breakfast options. Manufacturers are keenly analyzing the offline segment of distribution channels to capitalize on this trend. With an expected USD 125 billion growth between 2022 to 2027, businesses are focusing on meeting the needs of health-conscious consumers worldwide.
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The burritos market size is projected to increase by USD 17,289.6 million and the size is estimated to grow at a CAGR of 7.12% between 2023 and 2028.
The frozen breakfast foods market size is estimated to grow at a CAGR of 7.93% between 2022 and 2027. The size is forecast to increase by USD 2,129.41 million.
ToC:
Executive Summary
Landscape
Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Distribution Channel
Segmentation by Product Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging trends and provides actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
Contacts
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Website: www.technavio.com
SOURCE Technavio