I am trying to solve this market sizing exercise: What is the size of the US breakfast market?
My approach is to consider the total population in the US and consider a percentage of the population that has breakfast. In this case if we assume the US population is 300 M and the proportion of people who have breakfast is 40%, then the 120 M in the US who have breakfast. However, if I were to consider the US population by age groups, especially that younger people (0-20 year olds) are more likely to have breakfast compared to older aged people, my calculation becomes messy. How do I solve the problem with the latter approach without making it confusing.