Bread - BRICS | Statista Market Forecast

Bread - BRICS

BRICS

Highlights

Revenue in the Bread market amounts to US$168.50bn in 2024. The market is expected to grow annually by 7.58% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$51.12 are generated in 2024.
In the Bread market, volume is expected to amount to 89.28bn kg by 2029. The Bread market is expected to show a volume growth of 5.4% in 2025.0.
The average volume per person in the Bread market is expected to amount to 22.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The bread market in BRICS countries is experiencing subdued growth due to factors such as changing dietary habits, increasing health consciousness, and competition from other food products. However, with the convenience and availability of online bread services, there is potential for growth in the digital bread market within the larger food market.

Customer preferences: As the BRICS countries continue to experience rapid economic growth and urbanization, consumer preferences in the Bread Market of the Bread & Cereal Products Market within The Food market have shifted towards healthier and more convenient options. This trend is driven by changing lifestyle factors, such as increased awareness of the importance of a balanced diet and the need for on-the-go snacks. As a result, there is a growing demand for gluten-free, organic, and single-serve bread products. Additionally, the rising popularity of e-commerce platforms has led to an increase in online sales of bread, as consumers seek more convenient and contactless shopping options.

Trends in the market: In recent years, the Bread Market of the Bread & Cereal Products Market within The Food market has seen a rise in demand for healthier and more diverse options. In Brazil, there is a growing trend of incorporating more whole grain and gluten-free breads into diets. In Russia, artisanal and premium breads are becoming increasingly popular, reflecting a shift towards higher quality products. In India, there is a rising demand for breads made with traditional grains and ingredients, catering to the growing health-conscious population. These trends indicate a shift towards healthier and more diverse options in the bread market, which can have significant implications for industry stakeholders in terms of product innovation and marketing strategies.

Local special circumstances: In the Bread Market of the Bread & Cereal Products Market within The Food market, the BRICS countries present unique characteristics that shape their individual markets. In Brazil, for example, bread is a staple food in the traditional diet, with a wide variety of regional breads influenced by cultural and historical factors. In Russia, the market is heavily regulated, with strict quality standards and government subsidies for domestic producers. China's rapidly growing middle class has led to a demand for high-quality, imported bread products, while South Africa's diverse population has resulted in a variety of bread types catering to different cultural tastes and preferences. These local factors play a significant role in shaping the bread market in each BRICS country and should be taken into consideration when analyzing market dynamics.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market is heavily impacted by macroeconomic factors such as changing consumer preferences, economic growth, and government policies. Growing health consciousness and increasing disposable incomes are driving the demand for healthier and premium bread products. Additionally, favorable government initiatives promoting healthy eating habits and increasing investments in the food industry are contributing to market growth. However, fluctuating raw material prices and trade tensions among BRICS countries can pose challenges for market players.

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.