Cereal Market Size
The Global Cereals Market reached US$ 40.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 53 billion by 2030. The market is growing at a CAGR of 3.5% during the forecast period 2024-2031.
Cereal grains such as wheat, corn (maize), rice, oats, barley, and others are processed and transformed into various forms of cereals that are consumed by people worldwide It is a vital source of energy, carbohydrate, protein, and fiber. It also contains a range of micronutrients such as vitamins E&B, magnesium, and zinc. Hot cereals are cooked grains typically consumed as a warm breakfast dish. Ready-to-eat cereals, also known as cold cereals, are pre-packaged cereals consumed without further cooking.
Health-conscious consumers are increasingly seeking breakfast cereals that offer nutritional benefits and align with their wellness goals which is driving the market growth of grains. With busy lifestyles, consumers seek convenient, portable, and healthy snacking options. Cereal bars, cereal bites, and single-serve cereal portions cater to this demand for on-the-go consumption.
Market Summary
| Metrics | Details |
| CAGR | 3.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Ingredient and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
The Rising Adoption of Healthy and Convenient Food Products is Driving the Growth of the Cereal Market
There is a rising demand for gluten-free breakfast cereals and breakfast cereals for people with diabetes due to rising awareness about health worldwide. 1 cup (40 grams) of fortified Total cereal boasts 40 mg of iron — 100% of the Daily Value. According to OECD iLibrary, the expected rise in cereal consumption from 2.7 billion tonnes in the base period to 3 billion tonnes by 2030 will be mostly due to increased feed usage (+163 Mt), followed by increased food use (+146 Mt).
Consumers prefer cereals due to their health benefits over chronic disorders such as cancer, diabetes, hypertension, liver disorders, and coronary heart disease. Hence, the rising adoption of healthy and convenient food products drives cereal market growth.
The Availability of Other Low-cost and Nutritious Meal Options Hampers the Market Growth of Cereals
The popularity of alternative protein sources, such as legumes, tofu, and plant-based meats, has increased in recent years. These options offer affordable and nutritious alternatives to traditional cereals. There has been a growing emphasis on whole foods, including whole grains, lean proteins, and minimally processed ingredients.
Consumers prioritize whole foods for their nutritional benefits, so they may choose alternatives like complete grain-based meals instead of processed cereals. Hence, the availability of other low-cost and nutritious meal options can restrain the cereals market’s growth.
Market Segmentation
The Global Cereal Market is segmented based on product type, ingredient, and region.
Low Prices and Easy Availability of Ready-to-eat Cereals
Based on product type, the cereal market is divided into hot cereal, ready-to-eat cereal, and others.
In 2022, ready-to-eat cereal will dominate the market due to the busy lifestyle and growing preferences for ready-to-eat grain. According to Statista, In 2020, 283.39 million Americans reportedly ate breakfast cereals (cold).
In 2024, this number is anticipated to rise to 290.32 million. There is an increase in demand for ready-to-eat cereal due to low prices and easy availability. For instance, children love to eat cereal bars due to their attractive packaging, effective advertising strategies, and improved taste.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
High consumption and large market size in the North American region
In 2022, North America accounted for the highest market share among all regions due to the rising consumption of cereals, leading to increased cereals' processing and production. Statista said 283.39 million Americans ate breakfast cereals (cold) in 2020. In 2024, this number is anticipated to rise to 290.32 million. North America is witnessing the high adoption of new cereal products with diversification and innovations. This could have a positive impact on the market.
Source: DataM Intelligence Analysis (2023)
Market Key Players
The major global players include Dohler Group, The Kellogg Company, General Mills, Inc., Abbott Nutrition, Nestlé S.A., Alara Whole Foods Ltd., Bobs Red Mill Natural Food Inc, Bagrrys India Ltd., Marico Limited, Carman's Fine Foods
COVID-19 Impact Analysis
COVID-19 Impact
The COVID-19 pandemic has had both positive and negative effects on the cereals market. During the pandemic, there was a surge in demand for packaged and shelf-stable foods as consumers stocked up on essentials and sought products with longer shelf lives.
This led to increased sales of cereals, including ready-to-eat cereals and cereal bars. However COVID-19 led to disruptions in global supply chains, including the production, sourcing, and transportation of cereals and their raw materials.
Key Developments
- In August 2022, PepsiCo India decided to foray into the ready-to-eat cereals segment with the launch of Quaker Oats Muesli.
- In December 2022, Kwality, one of the leading manufacturers of Masalas, Instant mixes, and Breakfast cereals from the house of Pagariya Food Product Pvt. Ltd., introduced its new range of ready-to-eat healthy and tasty breakfast cereal.
- In September 2022, Nestlé India launched the globally renowned brand GERBER for toddlers.
Why Purchase the Report?
- To visualize the Global Cereals Market segmentation based on product type, ingredient, and region to understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous cereal market-level data points, all for segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Cereals Market Report Would Provide Approximately 53 Tables, 50 Figures And 102 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
