An increase in the number of convenience stores has improved cereal brand recognition and consequently increased sales of related food items, which is likely to support the market growth of breakfast cereals. Forbes estimates that revenues in the convenience shop sector in the United States reached US$ 616300 Mn in 2017. Breakfast cereal sales are predicted to expand as a result of global urbanisation that is occurring quickly and changing consumer breakfast preferences. The changing purchasing habits of consumers throughout Asia-Pacific, along with the region's growing population, are anticipated to fuel market expansion. The expansion of the region's economy and growth of the middle class are also factors in the market expansion for breakfast cereals. A significant trend in the global breakfast cereals market is the acquisition and merger of breakfast cereal makers, which is anticipated to drive the market expansion of the morning cereal. Due to the increased need for convenient baby food, the breakfast cereal business has grown, which is boosting the market expansion of breakfast cereals.
According to Coherent Market Insights, the market for Breakfast Cereals was worth US$ 49,002.86 million in 2022 and is anticipated to grow at a CAGR of 4.84% during the projected period (2023-2030).
Key Competitors in the Breakfast Cereals Industry:
1. Kellogg Co.
The company was founded in 1906 and has its headquarters in in Battle Creek, Michigan, in the United States. The Kellogg Company produces and sells convenience foods such cookies, crackers, toaster pastries, cereal bars, fruit snacks, frozen waffles, and vegetable foods in addition to ready-to-eat cereal. FDA accepted the vitamin D petition from Kellogg Company in January 2023. Kellogg's made the decision to collaborate with suppliers to gradually stop using glyphosate by 2025 in January 2020.
2.General Mills
The business, which has its headquarters in Golden Valley, Minnesota, U.S., was established in February 1856. Branded foods for consumers are produced and sold by the company. Tyson Foods' pet treat division, which includes True Chews, Nudges, and Top Chews, was acquired by General Mills for $1.2 billion on May 15, 2021. Peak Rock Capital's supplier of frozen pizza crusts, TNT Crust, was acquired by General Mills on May 12, 2022.
3. PepsiCo.
The firm was founded in 1898 and has its headquarters in Harrison, New York, U.S. The business of PepsiCo includes every facet of the food and beverage industryIt is in charge of the manufacturing, advertising, and distribution of its goods. PepsiCo invested $550 million in Celsius, a producer of energy drinks, in August 2022. PepsiCo announced in March 2020 that it has reached a deal to purchase Rockstar Energy for US$3.85 billion.
4. Cereal Partners Worldwide (CPW)
The company was established in 1991 and the business's main office is in Lausanne, Switzerland. A joint venture between General Mills Inc. and Nestle SA is called Cereal Partners Worldwide SA. Ready-to-eat cereals for breakfast are made and sold by the company. The corporation began selling cereals under the General Mills name in 2022, however several cereal items, such Trix, still bear the Nestlé name. The joint venture for breakfast cereals between General Mills and Nestlé, Cereal Partners Worldwide, has decided to stop investing in Russia in 2022.
5. Post Holdings
The business's main office is in St. Louis, Missouri and was established in 2012. Post Holdings, Inc. functions as a holding corporation. The Company produces, distributes, and markets a variety of ready-to-eat cereal products through its subsidiaries. Post announced on December 8, 2020, that it will be purchasing Conagra Brands' Peter Pan peanut butter line. Conagra Brands sold the Egg Beaters name to Post on May 28, 2021. The purchase was finished on July 14, 2021. It was revealed that Post Holdings is suing rock group OK on January 23, 2023. Take the name-use rights of the band.
6. Weetabix food company
The company was founded in 1932. The Company is based in Burton Latimer, Northamptonshire, in the United Kingdom. Wholegrain breakfast cereals are made and sold by Weetabix Limited. The business produces and sells cereals with a variety of flavours, including chocolate, minis, bits, flakes, and crispy brans. In October 2022, WEETABIX promised to develop a road map for producing a zero-carbon box of the nation's favourite breakfast cereal. Weetabix debuted a brand-new, dazzling animated television commercial on May 18, 2022.
Definition: A common breakfast item is breakfast cereal, which is produced from refined cereal grains. Often, it is consumed as a snack or as part of breakfast.
