Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products market in Australia is experiencing minimal growth due to a decline in consumer demand and competition from healthier options. Factors such as increasing health consciousness and changing dietary trends are impacting the market's growth rate. Online sales and convenient packaging are also contributing to the growth, particularly in the Breakfast Cereals and Other Cereal Products sub-markets. However, the overall market is facing challenges due to the presence of substitutes and the high cost of production.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for healthier and more nutritious bread and cereal products. This has led to the rise of gluten-free, organic, and whole grain options in the market. Additionally, with the increasing popularity of plant-based diets and sustainability concerns, there has been a shift towards plant-based bread and cereal products, catering to the growing demand for environmentally-friendly and ethical food choices.
Trends in the market: In Australia, the Bread & Cereal Products market is experiencing a surge in demand for gluten-free and organic options, driven by increasing health consciousness and dietary restrictions. Additionally, there is a growing trend of incorporating ancient grains like quinoa and millet into bread and cereal products, catering to the demand for exotic and healthier options. These trends are expected to continue and reshape the market, presenting opportunities for industry players to diversify their product offerings and target a wider consumer base.
Local special circumstances: In Australia, the Bread & Cereal Products Market within The Food market market is heavily influenced by the country's diverse landscape and multicultural population. The vast agricultural land allows for a wide variety of grains and cereals to be grown, providing a strong foundation for the market. Additionally, the growing health and wellness trend in the country has led to a demand for healthier and more sustainable options, resulting in the rise of organic and gluten-free products. The strong presence of Asian and European influences in Australian cuisine also contributes to the unique product offerings in this market.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Australia is heavily influenced by macroeconomic factors such as consumer spending patterns, inflation rates, and government policies. With a stable economic environment and strong consumer confidence, the demand for bread and cereal products is expected to remain steady. However, any fluctuations in global economic trends, such as trade tensions or currency fluctuations, could impact the cost of raw materials and ultimately affect market performance. Additionally, government policies such as taxation and trade agreements can also have a significant impact on the profitability of companies operating in this market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
