Breakfast Cereal Market Size, Share, Growth Analysis, By Product(Hot Cereals, Ready to Eat (RTE)), By Distribution Channels(Supermarket, Convenience Store, Online, Others), By Region - Industry Forecast 2024-2031

Global Breakfast Cereal Market size was valued at USD 38.61 billion in 2021 and is poised to grow from USD 40.08 billion in 2023 to USD 54.01 billion by 2031, at a CAGR of 3.8% during the forecast period (2024-2031).

Breakfast cereal is a processed food that is prepared from grains including maize, oats, wheat, and others and is eaten for breakfast or as a snack. These come in a variety of forms, including Ready-to-Eat (RTE), Hot Cereals, and others, and are packaged in boxes, pouches, and other materials. Crop prices are declining in several nations around the world as a result of overproduction. This is anticipated for food and beverage firms to mean lower raw material costs. For instance, in November 2022, the Cabinet Committee on Economic Affairs announced a bailout package worth Rs 7,000 crore for farmers involved in the sugar production sectors to fix the minimum selling price of refined sugar at Rs 29 per kilogramme (prices recently dropped to Rs 23–24 due to overproduction) and to create a buffer stock of 3 million tonnes of sugar for one year. Thus, bigger profit margins for food and beverage firms, such as manufacturing firms for cereal and breakfast foods. Higher profit margins for the food and beverage industry will make increased productivity and market growth possible.

US Breakfast Cereal Market is poised to grow at a sustainable CAGR for the next forecast year.