Cereals are essential for global food consumption, providing half of the world’s calorie intake and ranking as the top traded agricultural commodity. By 2032, 41% of cereals are expected to be consumed directly by humans, with 37% used as animal feed. As key sources of carbohydrates, protein, minerals, vitamins, and fiber, cereals deliver balanced nutrients for humans and livestock. Rice and wheat are the most widely consumed, yet over 3 billion people still suffer from micronutrient deficiencies, particularly iron, zinc, and vitamin A, leading to widespread malnutrition affecting over 2 billion globally. Nutrient deficiencies contribute significantly to childhood mortality, with undernutrition causing 45% of deaths in children under five. Cereals naturally contain essential micronutrients, including iron, zinc, and B vitamins, along with fiber that supports cardiovascular health and reduces cancer risks. While the growth rate of cereal consumption is slowing, it remains steady, especially in developing countries, where cereals provide 56% of daily caloric intake. To address malnutrition, biofortifying cereals to enhance iron, zinc, and vitamin A content could be transformative. This review highlights the nutritional importance of cereals, the need for balanced diets, and how biofortification and genetic editing can combat global malnutrition.