NEW YORK, USA – The global breakfast food market size is estimated to grow by USD 105.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.37% during the forecast period. Frequent breakfast product launches is driving market growth, with a trend towards plant-based foods gaining traction.
However, fluctuations in food prices poses a challenge. Key market players include Aussee Oats Milling Pvt Ltd, Campbell Soup Co., Conagra Brands Inc., Del Monte Foods Inc., Dr. August Oetker Nahrungsmittel KG, General Mills Inc., Happy Egg Co. USA., Hildur Functional Foods Pvt. Ltd., Hormel Foods Corp., ITC Ltd., Kellogg Co., Mars Inc., Nestle SA, PepsiCo Inc., pladis Foods Ltd., Starbucks Corp., The Hain Celestial Group Inc., The Kraft Heinz Co., Unilever PLC, and Trillium Farm Holdings LLC.
Market Driver
The plant-based breakfast food market has witnessed notable growth due to rising consumer preference for plant-based diets and environmental consciousness. Factors fueling this trend include healthier eating habits and the environmental impact of animal agriculture. Consumers seek plant-based alternatives to traditional breakfast items like eggs, bacon, and dairy-based products.
Non-dairy milk derived from almonds, soy, oats, rice, coconut, and other plants is widely used in cereals, smoothies, and coffee. The market is expected to expand further as more individuals adopt plant-based diets or incorporate more plant-based options into their meals.
Companies are meeting this demand by introducing a broader selection of plant-based breakfast choices to cater to various dietary needs and lifestyles. This increased consumption of plant-based breakfast foods will positively influence the market’s growth during the forecast period.
The breakfast food market is thriving with trends like cereals, dairy products, and specialty stores leading the way. Cereals, including oats, muesli, wheat, and corn, are popular choices for those seeking fiber and nutrients to kickstart their metabolism. Dairy products, such as milk, yogurt, and cheese, provide essential proteins and calcium.
Specialty stores and online platforms cater to diverse dietary patterns and food preferences. Bread, eggs, porridge, waffles, pancakes, and sausages continue to be breakfast staples. Fitness enthusiasts opt for high-protein, low-calorie options, while those with health concerns like obesity, diabetes, or high cholesterol focus on nutrient-dense meals.
Convenience stores and departmental stores offer quick, easy breakfast solutions. Spicy dishes like Spicy Chicken Noodles and Spicy Sirloin Burgers from Banquet are gaining popularity among those who prioritize taste over nutrition. Overall, consumers are increasingly health-conscious and seek balanced meals to maintain optimal energy levels.
Market Challenges
The COVID-19 pandemic has disrupted global food supply chains, causing production, distribution, and availability issues for breakfast foods. Lockdown measures, border restrictions, and labor shortages have resulted in logistical challenges, reduced agricultural output, and increased transportation costs, leading to higher food prices.
Vendors are addressing price fluctuations by entering into purchase contracts for essential ingredients like flour and sugar. Cereals, a healthy breakfast alternative, face affordability challenges due to price volatility. Economic and socio-political conditions, such as the Russia-Ukraine war, cause grain prices to fluctuate year-over-year, hindering the growth of the breakfast food market. These factors are expected to negatively impact the market during the forecast period.
The breakfast food market faces several challenges in today’s health-conscious world. Cereals, including breakfast cereals, dairy products, and porridge, must offer high fiber, protein, and essential nutrients for optimal metabolism and energy levels.
Consumers prioritize nutrient-dense options, such as oats, muesli, and whole grains, over high-calorie, low-nutrient alternatives. Specialty stores and online platforms cater to dietary patterns, food preferences, and health awareness, offering plant-based, low-cholesterol, and low-sodium options for those with obesity, diabetes, or high blood pressure.
Convenience stores and departmental stores also join the fray, stocking a variety of breakfast foods, from bread and eggs to waffles, pancakes, and sausages. Fitness enthusiasts seek convenient, protein-rich choices like Spicy Chicken Noodles or Spicy Sirloin Burgers, while food trends favor flavors like Banquet and Spicy Cholesterol-friendly alternatives. The market must adapt to these demands, providing diverse, nutritious, and convenient breakfast options for all consumers.
