Published Jul 23, 2018 |
107 Pages |
Pub ID: LA5656449
As analyzed and quantified in this report, several factors frame the market prospects for breakfast foods. Although the total population is expected to increase from 2018 to 2020, the fastest-growing age group are seniors, so breakfast players will need to be mindful of the habits and preferences of the older consumer to ensure market stability. Accounting for more than 60 million in 2018, Hispanics represent 18.5% of the population, and this group is set to grow 9.3% through 2020, requiring appeal to culturally specific values and priorities. While the child population will remain fairly static between 2018 and 2020, children wield significant influence in household food purchases, particularly in the case of breakfast cereal. Health and wellness trends have significant impact on consumer attitudes and behaviors when food shopping, and current trends include a greater focus on low/no sugar or low/no added sugars, which can challenge many breakfast food segments. Notably, breakfast believers—those who agree breakfast is more important than lunch or dinner—are more apt to shop Walmart for groceries. Additionally, combining portability and health in breakfast products is a key innovation trend.
This report details market opportunities in breakfast-oriented foods grouped into six categories: cereal, frozen breakfast, breakfast breads, breakfast proteins, yogurt & smoothies, and “other” breakfast foods. By retail sales cold cereal (at $9.5 billion), bacon, and cup yogurt are the leading product types, but refrigerated yogurt drinks/smoothies take the lead by projected compound annual growth rate through 2022.
Breakfast: Retail Product Trends and Opportunities in the U.S. covers consumer usage patterns, market innovation, and marketing strategies by category across this market. Data sources include a proprietary December 2017 consumer survey, based on national online research panels that are census representative on the primary demographic measures of age, gender, geographic region, race/ethnicity, and household income. Also featured are consumer demographic, attitude, and trend data derived from Simmons Research national consumer surveys, which are booklet-based surveys of a large and random sample of consumers who in aggregate represent a statistically accurate cross-section of the U.S. adult population.