Breakfast Cereals Market Size in North America is set to grow by USD 9.65 billion from 2024-2028, Growing consumer awareness and emphasis on health and wellness boost the market, Technavio

NEW YORK, May 28, 2024 /PRNewswire/ -- The breakfast cereals market size in North America is estimated to grow by USD 9.65 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.33%  during the forecast period. 

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Market Driver

The North American breakfast cereals market is expanding, with online distribution gaining popularity due to increasing Internet penetration and smartphone usage. New players, including Amazon, enter the market, driven by rising demand for convenient, healthy options like oats, flax seeds, and chia seeds. Product launches with exotic ingredients, reduced sugar content, and innovative strategies cater to various demographics, including children, adults, seniors, athletes, and those with dietary restrictions.

The market value is propelled by busy consumers seeking quick breakfast options and the growing trend of fitness and health consciousness. Ready-to-Eat and Hot Cereals are the main product types, with distribution through supermarkets, convenience stores, and online channels. 

Market Challenges

• The North American breakfast cereals market faces price fluctuations due to raw material instability from natural disasters and weather conditions. Vendors seek purchase contracts with suppliers. Consumers prefer cereals for health but are deterred by high prices. Ready-to-eat cereals, hot cereals, and instant varieties dominate, catering to busy lifestyles and fitness enthusiasts.
• Supermarkets, convenience stores, and online channels distribute. Innovative strategies, flavor variants, and health-promoting properties are key. Millennials and young generation favor artisanal and fresh breakfasts. Competition intensifies in retail distribution channels, with Nielsen, NACS magazine, and Convenience Store News reporting on consumer behavior and statistics.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Ready-to-eat (RTE)
• 2.2 Hot cereals
3. Geography 
• 3.1 North America

1.1 Offline- The offline market is set to boom in North America, offering convenience and quick access to customers. Grocery stores, supermarkets, and convenience stores play a significant role, providing a hands-on experience for cereal buyers. This fosters customer engagement and loyalty through easy comparison and spur-of-the-moment purchases. Prominent shelf displays and in-store promotions enhance product visibility and influence buying decisions. Moreover, brick-and-mortar outlets ensure swift fulfillment, catering to the demand for fast breakfast options. These factors are driving the market's growth, making offline channels a vital player in the forecast period.

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Research Analysis

The North America breakfast cereals market thrives on brand loyalty and health-conscious consumer trends. Sales are driven by advertising targeting Generation Z and parents. With an emphasis on nutrition, brands offer gluten-free options fortified with fiber and protein. Pricing remains competitive, with a focus on nutritional labeling compliance and regulations.

Sustainability initiatives address environmental impact throughout the supply chain, from raw materials to packaging materials. Quality control ensures food safety, while regional markets in the Middle East and Africa show potential growth. Market forecasts indicate continued expansion, reflecting evolving dietary habits and increased snacking behaviors.

Market Research Overview

The Breakfast Cereals Market in North America is a significant sector, marked by a diverse range of products and robust demand. Chronic diseases such as diabetes and heart diseases drive the consumption of low-sugar and high-fiber cereals. The market consists of various product types, including ready-to-eat (RTE) and instant oatmeal, hot cereals, and cold cereals. Producers focus on innovation, with new product launches and reformulations to cater to evolving consumer preferences.

The market is highly competitive, with key players including Kellogg Company, General Mills, and Quaker Oats. Convenience, taste, and health benefits are crucial factors influencing consumer decisions. The market is expected to grow, driven by factors such as increasing health awareness, changing demographics, and the convenience factor.

The use of organic and natural ingredients is also on the rise, reflecting consumer trends. The market faces challenges, including intense competition, rising raw material costs, and changing consumer preferences. Despite these challenges, the future looks promising for the Breakfast Cereals Market in North America.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product 
• Ready-to-eat (RTE)
• Hot Cereals
• Geography 
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market 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 market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio