Breakfast Food Market Report 2024

The breakfast food market size has grown strongly in recent years. It will grow from $431.68 billion in 2023 to $457.71 billion in 2024 at a compound annual growth rate (CAGR) of 6%. During the historic period, growth was driven by increasing production of staple breakfast items such as cereals, eggs, and dairy products, rising disposable incomes, the global spread of American-style breakfast preferences, the demand for quick and convenient breakfast options, and the growing working population seeking efficient meal solutions.

The breakfast food market size is expected to see strong growth in the next few years. It will grow to $584.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The forecasted growth can be attributed to increasing consumer awareness about health and nutrition, heightened emphasis on environmental sustainability, catering to vegan and vegetarian dietary preferences, growing demand for ready-to-eat meals, and an overall increase in net sales of breakfast foods. Major trends expected in the forecast period include the rise of plant-based and alternative protein sources, the introduction of new products enriched with additional nutrients, a diverse range of brands entering the breakfast food market, the launch of frozen and ready-to-eat alternatives, and the popularity of instant breakfast cereals.

The breakfast food market is expected to grow due to increasing demand for convenience foods. Convenience foods, prepared for easy consumption with minimal or no preparation, are gaining popularity driven by factors such as rising health awareness, higher disposable incomes, and the preference for ready-to-eat meals. Breakfast foods are integral to this market segment, offering quick, convenient, and nutritious options that cater to the fast-paced lifestyles of today's consumers. For example, the United States Department of Agriculture reported a 1.7% increase in the total value of US processed food exports to $36.59 billion in 2023, reflecting the growing demand for convenience foods driving the breakfast food market.

Leading companies in the breakfast food market are innovating with products such as millet and jowar-based breakfast cereals to meet the needs of health-conscious consumers seeking nutritious alternatives. These cereals, such as KOKO KRUNCH Millet-Jowar and MUNCH breakfast cereals launched by Nestle in June 2023, incorporate jowar, a nutritious millet, alongside traditional ingredients such as rice and wheat. This innovation aims to provide variety and appeal to health-conscious consumers, offering a healthier breakfast choice.

In October 2023, Premier Foods acquired FUEL10K for approximately $34 million (£34 million) to strengthen its presence in the breakfast food market. FUEL10K, known for its protein-enriched granola and porridge, targets a younger demographic and health-conscious consumers, aligning with Premier Foods' strategy to expand its product offerings in nutritious breakfast options.

Major companies operating in the breakfast food market are Nestle S.A., PepsiCo Inc., Unilever PLC, Starbucks Coffee Company, The Kraft Heinz Company, General Mills Inc., Associated British Foods (ABF) PLC, The Kellogg Company, Hormel Foods Corporation, Conagra Brands Inc., Campbell Soup Company, Del Monte Food Inc., Dr. Oetker, Britannia Inc., The Hain Celestial Group, Kodiak Cakes, Beyond Meat, Impossible Foods Inc., Eat Just Inc., Annie's Homegrown.

North America was the largest region in the breakfast food market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the breakfast food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the breakfast food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Breakfast food refers to food and beverages typically consumed as the first meal of the day, primarily in the morning, chosen for their convenience, nutritional content, and energy-providing properties.

The main types of breakfast foods include breakfast bars, cereal meals, sausages and salamis, beverages, bakery products, and others. Breakfast bars are portable and convenient snacks designed to offer a nutritious and satisfying start to the day. These products are packaged in various forms such as films, wraps, rigid boxes, pouches, sachets, bottles, jars, trays, and cans. They are distributed through hypermarkets, supermarkets, independent retail stores, specialty stores, convenience stores, and online sales channels.

The breakfast food market research report is one of a series of new reports that provides breakfast food market statistics, including breakfast food industry global market size, regional shares, competitors with a breakfast food market share, detailed breakfast food market segments, market trends, and opportunities, and any further data you may need to thrive in the breakfast food industry. This breakfast food market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The breakfast food market consists of the sale of cereals, beverages, snack bars, and ready-to-eat products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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