Key regions: India, United States, Japan, United Kingdom, China
The Bread market within The Food market in CIS is experiencing subdued growth due to various factors such as changing consumer preferences, high competition, and economic challenges. Despite this, the market is expected to grow, driven by increasing health consciousness and the convenience of online shopping for bread products.
Customer preferences: As health consciousness continues to rise, consumers are gravitating towards healthier and more exotic bread options. Gluten-free, whole grain, and artisanal breads are gaining popularity, driven by a growing interest in alternative diets and global cuisine. Additionally, there is a shift towards buying bread from local bakeries and specialty stores, reflecting a desire for quality and personalized shopping experiences.
Trends in the market: In the CIS region, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier and more diverse bread options. Consumers are increasingly seeking out whole grain and gluten-free options, as well as breads made with alternative flours such as quinoa and chickpea. This trend is driven by growing health consciousness and dietary restrictions, and is expected to continue as consumers become more health conscious and demand more variety in their bread choices. This presents opportunities for industry stakeholders to innovate and tap into this growing market segment. Additionally, online grocery shopping and delivery services have seen a rise in popularity, making it easier for consumers to access a wider range of bread products. This trend is expected to continue, presenting opportunities for companies to expand their online presence and reach a larger consumer base. However, with the rise of e-commerce, traditional brick and mortar bakeries may face challenges in adapting to this new landscape. It will be important for industry stakeholders to carefully monitor and adapt to these trends in order to stay competitive in the Bread Market of the Bread & Cereal Products Market within The Food market.
Local special circumstances: In CIS countries, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by cultural traditions and preferences. Bread is a staple food in these countries, and there is a strong demand for freshly baked bread from local bakeries. Additionally, government regulations and subsidies on flour and wheat production also play a significant role in shaping the dynamics of the Bread Market. For example, in Russia, bread is considered a symbol of national identity and is heavily regulated, with strict quality standards and price controls in place. In Kazakhstan, the government has implemented a bread subsidy program to ensure affordable prices for consumers. These unique local factors heavily impact the Bread Market in CIS and set it apart from other markets.
Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending patterns, inflation rates, and government trade policies. Countries with stable economic conditions and a growing middle-class population tend to have a higher demand for bread products, as they are considered staple food items. Additionally, the availability of raw materials, transportation infrastructure, and labor costs also impact the production and distribution of bread products, ultimately affecting market performance. Moreover, changing consumer preferences towards healthier and organic options have led to the introduction of new product lines and marketing strategies, further shaping the dynamics of the bread 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.
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