On-the-go Breakfast Products Market to Reach US$11.6 Billion by 2024, Fueled by Growing Demand for Nutritious On-the-Go Food Options
The on-the-go breakfast products market focuses on providing nutrition packed breakfast options for people with busy lifestyles. Products like breakfast cereals, dairy, bakery foods and snacks are available in ready-to-eat formats that can be easily consumed while traveling or working.
Global on-the-go breakfast products market size is expected to reach US$ 1,893.09 Mn by 2031, from US$ 1,453.70 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period
Key Takeaways
Key players operating in the on-the-go breakfast products are Quaker Oats Company, Kellogg Co., General Mills Inc., MOMA, Uncle Toby’s, Bagrry’s India Ltd., Sanitarium, Anchor, Weetabix Ltd., and Nestle S.A. These players offer a wide range of ready-to-eat breakfast cereals, bars, dairy and bakery foods.
The increasing health awareness and changing dietary habits have created significant opportunities in the On-the-go Breakfast Products Market Demand, allowing key players to offer breakfast products with higher nutritional value and new flavors. Technological advancements, such as innovative package formats and enhanced recipe formulations that extend shelf life, are also fueling market growth, meeting the rising demand for convenient, healthy breakfast options.
The availability of healthy breakfast options with fiber, whole grains, vitamins and minerals have led to rising product demand. Product innovations with diverse flavors and packaging for convenient consumption are encouraging sales. Manufacturers are developing breakfast products made from natural ingredients to cater to the preferences of health-conscious consumers. Advancements in processing technologies allow products to retain their nutritional value for longer durations, appealing to on-the-go lifestyles.
Market drivers
The primary driver for the on-the-go breakfast products market is the busy consumer lifestyles that leave little time for elaborate morning meals. Ready-to-consume breakfast packs provide an optimal solution. Furthermore, rising health awareness is prompting people to opt for nutritious morning meals packed with proteins, fibers and other essential nutrients. This is increasing the demand for fortified cereal bars, oats, yogurts and baked items. Busy work schedules are also driving the need for convenient, portable breakfast solutions.
Current Challenges in the On-the-go Breakfast Products Market
The on-the-go breakfast products market is facing challenges due to changing consumer preferences and hectic lifestyles. People today prefer easy to carry, portable and healthy breakfast options that can be consumed quickly. However, maintaining the right balance of taste, nutrition and convenience has become a challenge for manufacturers in this market. Rising awareness about ingredients and potential health risks associated with highly processed foods is also impacting consumer decisions. Companies need to focus on clean label products and transparent marketing to address such concerns.
SWOT Analysis
Strength: The market offers a wide variety of product types and formulations catering to different meal occasions and taste preferences. Products are easily available across retail channels.
Weakness: High sugar and calorie contents of certain products pose a health challenge. Reliance on imports for some raw materials increases supply risks.
Opportunity: Growing health consciousness and active lifestyles are driving demand for novel, nutritious on-the-go options. Innovations around plant-based, organic and functional products present new opportunities.
Threats: Strict regulations around food quality and labelling can impact product portfolios. Intense competition from alternate snacking and breakfast categories affects market share.
Geographical Regions
In terms of value, North America currently accounts for the largest share in the on-the-go breakfast products market, led by the United States. Wide product availability through retailers such as supermarkets, hypermarkets and convenience stores boosts sales. Asia Pacific is emerging as the fastest growing regional market, driven by rising incomes, urbanization and busy lifestyles in countries like India and China. Expansion of global and local food brands is propelling market growth across Asia Pacific.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )