Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in China has seen moderate growth due to factors such as increasing health consciousness and convenience of online services. However, the subdued growth rate is impacted by factors such as changing consumer preferences and competition from other breakfast options.
Customer preferences: As the demand for healthier breakfast options continues to rise in China, consumers are increasingly turning to locally sourced and organic ingredients in their breakfast cereals. This shift towards natural and sustainable products is driven by a growing awareness of health and wellness, as well as a desire for more environmentally friendly choices. Additionally, there is a growing trend towards convenience and on-the-go breakfast options, fueling the demand for single-serve and portable cereal products.
Trends in the market: In China, the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is experiencing a trend towards healthier options, driven by consumer demand for nutritious and convenient breakfast options. This has led to an increase in the production of whole grain and fortified cereals. Additionally, there is a growing trend of using e-commerce platforms to purchase breakfast cereals, as more consumers turn to online shopping for convenience and safety. These trends are expected to continue in the future, providing opportunities for industry players to innovate and cater to the evolving preferences of Chinese consumers.
Local special circumstances: In China, the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's rapid economic growth and urbanization. The rising disposable incomes and changing lifestyles have led to a shift in consumer preferences towards convenient and healthy breakfast options. Additionally, the Chinese government's focus on promoting a healthy diet and reducing food waste has resulted in a growing demand for breakfast cereals made from locally sourced ingredients. This has led to the emergence of new players in the market, offering innovative and unique products that cater to the specific tastes and preferences of Chinese consumers.
Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market in China is influenced by a variety of macroeconomic factors. The country's economic health and stability play a significant role in the market's growth. Favorable government policies and investments in the food industry have contributed to the market's expansion. Additionally, the growing middle class and increasing urbanization have led to a rise in demand for convenient and healthy breakfast options, driving the growth of the breakfast cereals market. Furthermore, the increasing health consciousness among consumers and the shift towards a Westernized diet are also key factors influencing the market's performance.
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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