On-the-go breakfast products are easy to consume breakfast options that can be eaten on the go. These include cereal bars, breakfast biscuits, breakfast sandwiches and burritos. These products are convenient, nutritious and save time for people with busy lifestyles.
The global On-the-go Breakfast Products Market is estimated to be valued at US$ 25.7 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends in the market is rising demand for healthy and nutritious on-the-go breakfast products. Manufacturers are focusing on developing products with minimal sugar, high fiber content and whole grains to cater to the health-conscious population. They are incorporating superfoods like oats, nuts, fruits and veggie inputs to enhance the nutritional profile of these products. This is expected to drive the demand for on-the-go breakfast foods owing to the associated health benefits.
Strength: On-the-go breakfast products are highly convenient as they can be easily consumed on the go without requiring any preparation. They save time for people with busy schedules.
Weakness: These products tend to be highly processed and packed with preservatives, making them less healthy than a homemade breakfast. The packaging also creates non-biodegradable waste.
Opportunity: Rising health consciousness is increasing the demand for more nutritious on-the-go options. Manufacturers can capitalize on this by developing healthy variants with minimal processing and natural ingredients.
Threats: Strict regulations around food processing and packaging could increase the production costs. Social media trends promoting traditional homemade breakfast also pose a threat.
The global on-the-go breakfast products market is expected to witness high growth, exhibiting a CAGR of 4.8% over the forecast period, due to increasing demand for convenience food among busy consumers. rising number of working women and dual-income families with busy lifestyles rely on easy to consume breakfast options that do not require preparation time.
North America currently dominates the market, owing to increasing demand for convenience foods. However, Asia Pacific is expected to grow at the fastest pace due to rising income levels, urbanization, and adoption of Western food habits in countries like China and India. Latin America and Middle East & Africa also offer lucrative opportunities for market expansion.
Key players operating in the on-the-go breakfast products market are Quaker Oats Company, Kellogg Co., General Mills Inc., MOMA, Uncle Toby’s, Bagrry’s India Ltd., Sanitarium, Anchor, Weetabix Ltd., and Nestle S.A. Leading companies are launching newer product lines tailored to regional tastes and preferences, while also offering more nutritious options to cater to health-conscious consumers.