Driven by increased consumer demand for safer, convenient and healthier food, the global on-the-go breakfast products market reached nearly US$1.2 billion in 2015 and is predicted to soar to $1.9 billion by 2026, according to a new report from Future Market Insights.
Demand for products with high fiber and protein content is increasing significantly in countries like the United Sates, the UK and Japan. Increasing demand for value-added products in various countries is prompting manufacturers to offer healthy breakfast products with additional nutrients.
As noted by the report, fast-paced lifestyles and increasing participation of women in the workforce and longer commute times are all fueling the demand for on-the-go breakfast products all over the world, especially in the fast-growing Asia Pacific region and the developed regions of North America and the European Union. In addition, increasing urbanization and the concept of nuclear families make working women juggle domestic and work responsibilities and consequently there is no time for making or having a leisurely breakfast, as the urban populace battles increasing work commutes and a dearth of time. All these factors contribute heavily to the popularity of on-the-go breakfast products that are convenient, easy to consume and healthy as compared to sugary cereals.
Increasing consumer demand for convenience products with additional benefits is expected to drive market growth in the North America region. In 2015, the North America on-the-go breakfast products market was valued at nearly $270 million and is expected to reach nearly $415 million by the end of 2026. In terms of value, the on-the-go breakfast products market in the United States was valued at nearly $200 million and is predicted to reach nearly $320 million by 2026. The market in Canada was valued at nearly $70 million in 2015 and is expected to hit $100 million by 2026.
In 2015, the breakfast cereals segment was valued at nearly $180 million and is expected to reach $275 million by 2026. Trend of consumers’ increasingly choosing healthy, convenient and low-calorie breakfast foods has elevated the demand for dairy-based breakfast foods in the North America on-the-go breakfast products market. In 2015, the dairy-based breakfast drinks segment was valued at nearly $90 million and is expected to hit $140 million by 2026.
Research points to the benefits of consuming a nutritious breakfast, including improved concentration, better weight control, increased strength and endurance, better heart health, and even lowering the risk of type 2 diabetes, but with consumers increasingly on the go, it’s up to developers to create healthful, functional breakfast products to meet the demands of busy lifestyles. Download the “Slide Show: Building Better-For-You-Breakfast-Cereals" to find out how product formulators are delivering healthier breakfast options.