Market Insights Consumer Food Bread & Cereal Products

Breakfast Cereals - Worldwide

Worldwide

Revenue in the Breakfast Cereals market amounts to US$76.97bn in 2023. The market is expected to grow annually by 5.90% (CAGR 2023-2028).
In global comparison, most revenue is generated in the United States (US$21,980m in 2023).
In relation to total population figures, per person revenues of US$10.02 are generated in 2023.
In the Breakfast Cereals market, volume is expected to amount to 14.80bn kg by 2028. The Breakfast Cereals market is expected to show a volume growth of 3.6% in 2024.
The average volume per person in the Breakfast Cereals market is expected to amount to 1.7kg in 2023.

Key regions: United States, India, South Korea, Japan, Spain

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.