Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in CIS is experiencing subdued growth, influenced by various factors such as changing consumer preferences, increasing competition, and economic uncertainty. Despite this, the market continues to grow due to the convenience and health benefits offered by breakfast cereals.
Customer preferences: The Breakfast Cereals Market within the Bread & Cereal Products Market is witnessing a rise in demand for healthier and more natural options, as consumers become increasingly health-conscious. This trend is also being driven by the growing awareness of environmental sustainability and ethical sourcing among consumers. In line with this, there is a growing preference for organic and non-GMO breakfast cereals, as well as options that are free from artificial ingredients and preservatives. Additionally, consumers are also seeking out cereal products with added health benefits, such as high fiber and protein content, to support their active lifestyles.
Trends in the market: In CIS, the Breakfast Cereals market is experiencing a shift towards healthier options, driven by increasing health consciousness and demand for natural ingredients. In addition, there is a growing trend of incorporating functional ingredients, such as probiotics and superfoods, into breakfast cereals. This trend is expected to continue, with companies investing in research and development to meet consumer demands. Furthermore, the rise of e-commerce and online grocery shopping is also influencing the market, with more consumers opting for convenient and personalized breakfast options. These trends present opportunities for industry stakeholders to innovate and differentiate their products, but also pose challenges in terms of production costs and competition.
Local special circumstances: In the CIS region, the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the unique cultural preferences for breakfast options. Consumers in Eastern European countries tend to favor savory breakfasts over sweet cereals, while in Central Asian countries, traditional breakfast dishes are more popular. Additionally, varying regulations and import restrictions in different CIS countries also impact the availability and pricing of breakfast cereals in the market.
Underlying macroeconomic factors: The growth of the Breakfast Cereals Market in CIS is heavily influenced by macroeconomic factors such as consumer purchasing power, government regulations, and consumer preferences. Countries with a strong economy and favorable government policies towards the food industry are likely to experience higher market growth compared to regions with economic challenges and strict regulations. Additionally, the increasing health consciousness and demand for convenient and healthy breakfast options are driving the demand for breakfast cereals in the region.
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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