Market Overview:
Urban lifestyle today has created an increasing level of dependency on ready to eat food options. However, the breakfast meal remained the most ignored option in this category until recently but is showing promising growth with the development of on the go breakfast products options. As per a report released by MRFR, the market is expected to achieve revenues worth USD 1,676.2 million while growing with a 4.4% CAGR in the forecast period. The lack of time especially in the mornings to create nutritious meals is the prime factor that is fuelling the growth of the market.
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The development of sedentary lifestyles of the end users is a major factor that is helping in the growth of the market. As women were earlier tasked with making meals in households, the rising working women workforce, particularly in the developing economies, is creating a strong demand for on the go breakfast products. Moreover, the robust growth in the organized retail sectors fuelled by the novel product offerings created by the key players is anticipated to impel the growth of the market. The rising acceptance among the consumers for private label brands is expected to transform the market landscape for the on the go breakfast products market in the forecast period.
Competitive Analysis:
The on-the-go breakfast products market is influenced by the positive trends that are directing and increased demand level for the market. The increasing importance of having breakfast is creating a lucrative market space for the competitors. The market competitors are competing on the basis of their unique selling propositions and have created a niche in the market for their offerings respectively. Engaging use of apposite marketing strategies is expected to create lucrative opportunities for growth in the market. The important competitors influencing the on-the-go breakfast products market are Kellogg Co., General Mills Inc., Nestle S.A., Raisio PLC, Weetabix Limited, Bagrry’s India Ltd., Sanitarium, Quaker Oats Company, Weetabix Ltd., Moma Foods, Uncle Toby’s, Amy’s Kitchen, Alara Wholefoods Ltd., United Biscuits Limited, ITC Limited.
Segmental Analysis:
The on-the-go breakfast products market is segmented on the basis of product type, packaging type, distribution channel, and region. On the basis of product type, the market is segmented into cereal meals, breakfast bars, bakery products, beverages, egg meals, sandwiches, burgers, and others. On the basis of packaging type, the on the go breakfast products market is segmented into cans, bottles & jars, boxes, trays and others. Based on the distribution channels, the market is segmented into store-based and non-store based. The store-based segment is supermarkets & hypermarkets, convenience stores, specialty stores, and others. On the basis of regions, the on-the-go breakfast products market is segmented into North America, Europe, Asia Pacific, South America, Middle East, and Africa.
Detailed Regional Analysis:
The regional analysis of the on-the-go breakfast products market covers regions such as Asia Pacific, South America, North America, Europe, Middle East, and Africa. The Asia Pacific region is projected to display ascendant demand in the upcoming forecast period. Increasing popularity and inclination towards healthy eating and the renewed focus on the importance of breakfast is motivating the expansion of the on-the-go breakfast products market in the Asia Pacific region. The North American region is anticipated to exhibit positive development in the forecast period primarily due to the availability of several nutritious options in the market.
Moreover, the development of a robust supply chain in the region has further prompted expansion of the market in the North American region. The European region is anticipated to display stable growth for the duration of the forecast period with the development of the on-the-go breakfast product meal category in the region. The Middle East region is projected to display a good growth rate in the forecast period due to increased demand levels.
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