Key regions: India, United States, Japan, United Kingdom, China
The Bread market in China has seen slow growth due to factors such as changing consumer preferences, health concerns, and increasing competition from other food products. Despite this, the market is expected to continue growing at a subdued rate, driven by factors such as rising disposable income and the convenience of pre-packaged bread options.
Customer preferences: With the rise of health consciousness in China, consumers are gravitating towards healthier bread options such as whole wheat and multigrain bread. This trend is driven by the growing awareness of the benefits of a balanced diet and the impact of Western fast food on health. Additionally, the increasing demand for on-the-go and convenient food options is also contributing to the growth of the bread market, especially among busy urban consumers. As a result, bakery chains and retailers are expanding their offerings to cater to this evolving consumer preference.
Trends in the market: In China, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a surge in demand for artisanal and healthier bread options. This trend is driven by the growing health consciousness among consumers, who are increasingly looking for low-sugar and whole grain options. Additionally, there is a rising demand for specialty breads, such as gluten-free and organic breads. This shift towards healthier and more diverse bread options presents opportunities for industry players to innovate and cater to evolving consumer preferences. It also highlights the need for market players to adapt their strategies to capitalize on this trend and stay competitive in the market.
Local special circumstances: In China, the Bread market is heavily influenced by the country's large population and changing dietary preferences. As the middle class continues to grow, there has been a shift towards Western-style bread products, leading to a rise in demand for artisanal and specialty breads. Additionally, government policies promoting food safety and quality have led to stricter regulations for bread production, resulting in higher standards and increased consumer trust. The rise of e-commerce in China has also made it easier for smaller, local bread companies to reach a wider audience, further fueling the market's growth.
Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in China is heavily impacted by macroeconomic factors such as economic growth, consumer spending power, and government policies. As China's economy continues to grow, the country's middle class is expanding, resulting in higher disposable incomes and increased demand for convenient and healthy food options like bread. Additionally, the Chinese government has implemented policies to promote food safety and improve the quality of food products, which has positively influenced the bread market. Furthermore, the rising health consciousness among consumers and the increasing trend of westernization in Chinese diets have also contributed to the growth of the bread market in China.
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.
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