Breakfast Foods and Services Market - Trends, Growth and Forecast (2017 - 2022)
Breakfast Foods and Services Market
The market is a combination of the products from food joints, restaurants and the packaged food. The effort of the consumers, to balance the health benefits of breakfast with their busy morning routines is heating up the breakfast food and services market such as Kellogg’s, Quaker oats, Mc Donald’s, General mills, Haldiram, Frito-Lay, Nestle, McVitie's, Cadbury, Oreo, dominoes, Maggi, Knorr, Unilever, Heinz, Griffin's Foods, Kikkoman, Cargill, Conagra foods and Richelieu Foods.
The global breakfast foods & services market is expected to register at a CAGR of XX% during the forecast period of 2016–2021. The market of 2016 was estimated at USD XX billion, which further projects the reach of USD XX billion, by 2022.
“Eat breakfast like a king, lunch as a mediocre and dinner like a pauper” is a trend seen today, as the recent studies show that having good breakfast daily increases the metabolism, enhances mood, stimulates intelligence, improves the immune system and even helps to maintain or lose weight. Therefore, breakfast has become a non-neglect part of the daily meals.
The prime factor that supports this market is the hectic schedules of consumers and their inability to make time for food preparation. The morning routine of most of the consumers is inflicting them to purchase breakfast irrespective of the place, where it is consumed. It is the only part of the meal that is usually consumed, on a carry-out/takeaway on the way to work or drive-thru. Therefore, the portability factor of breakfast food & services continues to be its great facilitator.
With the undergoing modernization among the youth and the old, there is a fledgling rebound of the snacks and morning meals, globally. Though the demand for these products has witnessed an increase, but they belong to packaged breakfast food products or the services offered from different food joints.
Breakfast grazing is an emerging minor trend, related to portability, as identified by some operators. In this time-crunched society, people have no time to sit-down for breakfast, but with portability (as it enables commute-time breakfast), things have become easier. Although consumers continue to demand “healthy” food, the industry responses have been disappointing to both consumers and operators. The real issue is the availability of better-for-me choices that taste good. The recent innovation has been significant in one important area i.e. the label of “healthy” no longer equates to bland taste. Since the consumers look for good taste and further happens to be a healthy, becomes a winner. In addition to, the push for protein is encouraging the market sales, to a great extent. Apart from these, the other factor driving the market is the comfort of ordering food online.
The breakfast foods & services are segmented by the availability of the product in the market in two categories i.e. either packaged food or from food joints & restaurants. Many food joints & restaurants offer convenient, single-serve breakfast 24/7 for the customers, which can be grabbed, opened easily and thrown in a bag. Expanding breakfast hours is on the cusp of exploding, especially as from this fall, McDonald’s is taking the leap into all day breakfast hours in all of its U.S. (14,000) locations. Additionally, White Castle just launched a 24-hour breakfast program that will include a variety of breakfast sandwiches. On the other hand, the packaged breakfast foods are being tinned which means they can be either be directly consumable or require pre-heating. The packaged breakfast foods include cereals, snack bars, protein shakes, oatmeal, yogurt, toasters, pastries, etc. Companies such as Kellogg’s and Quacker oats are the major players for producing breakfast cereals. Some of the products, for instance, KELLOGG'S SPECIAL K CEREAL MULTI-GRAIN, NATURE'S PATH CHIA PLUS COCONUT CHIA GRANOLA, SILK ALMONDMILK PROTEIN + FIBER, LEAN CUISINE WILD BLUEBERRY AND POMEGRANATE OATMEAL, APPLEGATE NATURALS CHICKEN AND APPLE BREAKFAST SAUSAGE PATTIES, DANNON OIKOS BLACK CHERRY GREEK NONFAT YOGURT.
The breakfast foods and services market can be segmented by the different consumer preferences, like products for diet conscious consumers, mobile snackers, kids or large families. Also for customers purchasing breakfast, foods for specific health or dietary reasons or health issues, such as gluten-free, low carb, nut free, and so on. Mobile snackers are the ones who eat breakfast out-of-home. More likely, they purchase the food at a cafe, diner or a fast food outlet. They may even purchase a breakfast bar, fruit, breakfast drink, or energy drink beforehand. Some products, targeting at children for the parents who may only consume coffee or juice for breakfast resulting in heavy use of children cereal. They would get attracted to the sales promotions for cereals designed for children, including licensed brands like Disney characters. Families who have several children or teenagers perceive breakfast as a necessary, but potentially low-cost, meal of the day. For such large families, due to the high costs, out-of-home is an unlikable option. Instead, they get attracted to the low-priced basic cereals, bread and pancakes, which the family can consume in large quantities without a significant cost concern. For example Kellogg's® Nutri-Grain, McDonald’s breakfast menu and Kellogg's® Chocos.
The market can be further segmented by the product type, such as raw, semi-cooked or cooked food. Raw foods (the snack bars or yogurt) are the ones, which can be directly consumed. The semi-cooked foods constitute the foods that are partially cooked and require pre-heating before consumption like the Quacker Oatmeal. Further, the cooked foods are the ready to eat breakfast foods with a good shelf life like Bridgford Foods Ready to Eat Sandwiches.
The breakfast foods market is highly influenced by the consumers from different geographical parts of the world. The global breakfast market is segmented on the basis of region and product type. By region, the market is divided into North America, Europe, Asia-Pacific, South America and Africa. In terms of breakfast packaged foods and instant food services The United States and the United Kingdom have been the leading nations. Since 2006, due to the growing urbanization and the middle-class population, there have been many changes in the eating habits of people in Asia-Pacific region. As per the World Bank, the middle-class population in India and China was XX million in 2010 and is expected to reach XX billion by 2030. People in these nations are shifting their breakfast preferences from heavy foods to packaged cereals. This is expected to propel the market in Asia-Pacific, in the next few years. Furthermore, the increasing number of convenience stores in these regions is considerably improving the brand visibility for manufacturers of breakfast food.
In the shade of developing technology and urbanization, the breakfast market is yet to see a lot of growth. The consumers habituated to the western cuisines and lifestyles are likely to fuel the market. The players in the market are also keeping up the pace by launching innovative products. Our panelists expect to see, the foodservice industry continue to promote the healthfulness of breakfast and ratchet up the innovation of breakfast menu items. Not only does breakfast represent an increasing percentage of total sales, but the costs also tend to be lower for breakfast items than for any other daypart, which is affordable for the consumer and profitable for the operator at the same time. The biggest trends on the horizon are the evolution of the current ones, which center on increasing demand for, and creativity of handheld meals; more interest in having all-day breakfast; and more interest in healthy menu items like whole grains and ethnic breakfast offerings. Chains that will witness most of the growth are the ones launching new products, offering items with ethnic twists, promoting the morning daypart, and having a strong coffee program, which really goes hand in hand with breakfast foods eaten by adults.
Key Deliverables in the Study
Market analysis for the Global Breakfast Foods and Services market, with region-specific assessments and competition analysis on global and regional scales. Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global non-meat ingredients market on both global and regional scales. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.