On-the-go breakfast products are convenient, easy-to-prepare breakfast options that can be consumed anywhere. They are ideal for consumers with busy lifestyles who do not have time for a home-cooked breakfast. These products help meet the daily nutritional needs and come in various forms such as breakfast cereals, cereal bars, breakfast sandwiches, waffles etc.
The global On-the-go Breakfast Products Market is estimated to be valued at US$ 25.7 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the on-the-go breakfast products market is changing consumer lifestyles and preferences. With people having increasingly busy schedules and less time for homemade breakfasts, demand for convenient, portable breakfast options is growing. Moreover, growing health consciousness is also fueling the demand for on-the-go breakfast products that are healthy, nutritious and provide functional benefits. Many vendors are innovating and launching new product varieties with higher protein content, whole grains and fiber to cater to consumer demand. This rising focus on health and wellness is expected to support the continued growth of the on-the-go breakfast products market over the forecast period.
Segment Analysis
On-the-go Breakfast Products Market is dominated by the cereal and bars sub-segment. This is because cereal and bars are highly convenient breakfast options that can be easily consumed on the go without the need for preparation. The products under this sub-segment have a longer shelf life and are affordable options for consumers with a busy lifestyle who need a quick meal for breakfast.
Key Takeaways
The global On-the-go Breakfast Products market is expected to witness high growth over the forecast period of 2023 to 2030. The global On-the-go Breakfast Products Market is estimated to be valued at US$ 25.7 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis shows that North America region currently dominates the market due to rising demand. However, Asia Pacific is expected to witness the fastest growth due to growing adoption of western breakfast habits and increasingly fast-paced urban lifestyles in countries like India and China.
Key players operating in the On-the-go Breakfast Products market 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 companies are focusing on new product launches catering to varied consumer demands to strengthen their foothold in the market. For instance, Kellogg launched a range of on-the-go nutrition bars to expand its portfolio in 2019.
