Bread - Guatemala | Statista Market Forecast

Bread - Guatemala

Guatemala

Highlights

Revenue in the Bread market amounts to US$1.06bn in 2024. The market is expected to grow annually by 6.51% (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$58.02 are generated in 2024.
In the Bread market, volume is expected to amount to 329.80m kg by 2029. The Bread market is expected to show a volume growth of 4.8% in 2025.0.
The average volume per person in the Bread market is expected to amount to 16.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread Market in Guatemala is steadily growing, with minimal growth rate impacted by factors such as consumer preferences for traditional food options and limited availability of digital technologies. However, increasing health awareness and convenience of online services may drive future growth.

Customer preferences: As consumers in Guatemala become more health-conscious, there is a growing demand for healthier bread options in the Bread Market. This trend is driven by factors such as rising awareness of the benefits of whole grain products and a desire for more nutritious food choices. Additionally, the increasing prevalence of gluten-free and plant-based diets is also influencing consumer preferences in the Bread & Cereal Products Market, leading to a surge in demand for alternative grain and seed-based bread options. This shift towards healthier bread options is also being driven by a growing focus on sustainable and ethically-sourced ingredients, reflecting a shift towards mindful consumption in the region.

Trends in the market: In Guatemala, the Bread Market is experiencing a rise in demand for gluten-free and whole grain options, as consumers become more health-conscious. This trend is expected to continue, driven by growing awareness and education about the benefits of these products. As a result, the market is seeing an increase in the availability of these products, as well as new product development to cater to this demand. This shift towards healthier bread options has significant implications for industry stakeholders, who must adapt to these changing preferences and innovate to stay competitive in the market.

Local special circumstances: In Guatemala, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's rich cultural heritage and its diverse geographical landscape. Traditional bread varieties, such as pan dulce and tortillas, still hold a significant market share due to their popularity among the local population. Moreover, the government's efforts to promote small-scale bakeries and support local wheat production have also shaped the market. These unique factors have created a distinct market dynamic, making Guatemala's Bread Market stand out from other markets in the region.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Guatemala is influenced by macroeconomic factors such as the country's economic stability, government policies, and consumer purchasing power. The growth of the market is closely tied to the overall economic health of the country, with stable economic conditions leading to increased consumer spending on food products. In addition, government policies that promote and support the agricultural sector can also impact the availability and cost of ingredients used in bread production. Lastly, the purchasing power of consumers, influenced by factors such as inflation and employment rates, can also affect the demand for bread products in the 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.