The Global On the go Breakfast Market was estimated at US$ 1,404.0 Million in 2016 projecting a CAGR of 5.17% during the forecast period from 2017-2025, according to new report published by Coherent Market Insights. On the go breakfast is instant and convenient breakfast that require less or no processing or cooking. They have convenient packing, which can be easily carried and consumed while travelling. Fast paced lifestyle of the consumers coupled with increasing population of working women in emerging economies are some of the key factors for high demand of on the go breakfast products. .
Key Trends and Analysis of the on the go breakfast market:
• Breakfast cereals is the largest segment in on the go breakfast market as they come in variety of options and flavors. They are a source of fibers, vitamins, and minerals with low sugar, salt, and fat content. The ease and nutritional benefits associated with breakfast cereals makes them the dominant segment.
• Online channel is the fastest growing channel of distribution, owing to increasing use of digital technology and smart phones. However, supermarkets and hypermarkets are commonly preferred by consumers forming the largest market share.
• Significant demand for food items with high fiber and protein content among the consumers, which allows them to stay active and healthy in modern lifestyle has paved the way for on the go breakfast products significantly.
Key takeaways of the market:
• Europe is the largest market for on the go breakfast market along with Germany, France and U.K. being the major contributors to the growth of Increasing number of working population coupled with high purchasing power of the consumers is one of the major factors pushing the demand for on the go breakfast products in Europe.
• North America is a highly lucrative market for on the go breakfast products, owing to the high adoption rate of products among the consumers. Further, due to heavy working hours and lack of time for cooking a proper meal consumers prefer food items that are instant as well as healthy to eat, which in turn has paved the way for on the go breakfast products.
• Asia Pacific, however is projected to be the fastest growing market for on the go breakfast products on account of changing food habits of the consumers, rapid retail penetration, and rising purchasing power of the consumers. Several manufacturers are looking to penetrate economies such as India, China, and Japan for expansion of opportunities. Emergence of local players operating this field is another major factor, which is expected push the demand for on the go breakfast products in Asia Pacific in the future. Latin America is expected to exhibit a steady growth for this market with Brazil, Argentina, and Mexico as the leading contributors for the growth of this market.
• However, the market penetration for on the go breakfast products in Middle East and Africa is low at present, due to less manufacturers operating this field and lower adoption rate.
Alara Wholefoods Ltd., Amy's Kitchen, Baggry's, Country Choice, General Mills, Kelloggs, MOMA, Nature's Path, Nestle, Sanitarium, Raisio, Uncle Tobys, and Quaker Oats Company are some of the major players operating the on the go breakfast products market. Some of the major strategies adopted by these players include product and packaging innovation, merger and acquisitions, and various others.
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