Breakfast Cereals - Colombia

Colombia

Highlights

Revenue in the Breakfast Cereals market amounts to US$320.40m in 2024. The market is expected to grow annually by 3.73% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$23bn in 2024).
In relation to total population figures, per person revenues of US$6.12 are generated in 2024.
In the Breakfast Cereals market, volume is expected to amount to 72.20m kg by 2029. The Breakfast Cereals market is expected to show a volume growth of 0.8% in 2025.0.
The average volume per person in the Breakfast Cereals market is expected to amount to 1.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Breakfast Cereals Market in Colombia is experiencing slow growth, influenced by factors such as low consumer awareness and limited availability of healthier options. Despite the negligible growth rate, the market is expected to see a potential rise in demand due to increasing health consciousness and the convenience of ready-to-eat breakfast options.

Customer preferences: The breakfast cereals market in Colombia is witnessing a growing demand for healthier and more nutritious options, driven by a rise in health-conscious consumers. This trend is fueled by changing lifestyles and increasing awareness of the importance of a balanced diet. As a result, there has been a surge in the production of whole grain and organic cereals, as well as fortified options with added vitamins and minerals. Additionally, there is a growing preference for on-the-go and portable breakfast options, leading to an increase in single-serve and snack-sized cereal packs.

Trends in the market: In Colombia, the Breakfast Cereals Market within the Bread & Cereal Products Market is experiencing a shift towards healthier options, driven by consumer demand for nutritious and convenient breakfast options. This trend is expected to continue, with companies investing in product innovation and marketing strategies to cater to this growing demand. Additionally, there is a rise in the use of e-commerce platforms for purchasing breakfast cereals, providing greater accessibility to consumers. This trend presents opportunities for industry stakeholders to tap into the growing market and expand their reach through digital channels.

Local special circumstances: In Colombia, the Breakfast Cereals market is heavily influenced by the country's geographical diversity and cultural preferences. The Andean region, with its high altitude and cooler climate, favors consumption of hot cereals such as oatmeal and quinoa. The Caribbean coast, on the other hand, has a strong preference for cold cereals like cornflakes and granola. Additionally, Colombian regulations on food fortification have also impacted the types of ingredients used in breakfast cereals, with a focus on natural and locally-sourced ingredients. These factors contribute to the unique dynamics of the Breakfast Cereals Market in Colombia.

Underlying macroeconomic factors: The Breakfast Cereals Market within the Bread & Cereal Products Market is heavily impacted by macroeconomic factors in Colombia. The country's economic health, fiscal policies, and global economic trends play a significant role in the performance of this market. Colombia's stable economic growth and favorable regulatory environment have contributed to the stable demand for breakfast cereals. Additionally, the country's growing middle-class population and increasing health consciousness have led to a rise in demand for healthier breakfast options, driving the growth of the market. However, the economic impact of the COVID-19 pandemic has resulted in a decline in consumer spending, affecting the market's growth.

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.