Cereal is too complicated for 40% of millennials

The once thriving popularity of breakfast cereal is slowly fading, and it's all millennials' fault.

According to a New York Times article, the cereal industry's annual profits dropped to $10 billion last year. While that certainly sounds like a lot of Cheerios, it should be noted that delicious and convenient cereal pulled in a whopping $13.9 billion in 2000.

What happened, cereal?

Not only have most people moved on to a healthier daily breakfast option than a big bowl of Frosted Flakes with lactose-packed whole milk, many have given up eating breakfast all together. And when it comes to young adults, few share Jerry Seinfeld's notorious affection for an easy-breezy bowl of cereal. A 2015 survey revealed that 40% of millennials regard the post-cereal cleanup as too much work.

Nostalgia might be the saving grace of cereal. Millennials might not burden themselves with the multi-step process of making, eating and washing a bowl of cereal for breakfast, but they love to snack. And a retro box of cereal (with a splash of almond milk) is occasionally worth the midnight snack effort.