Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in the EAEU region is experiencing subdued growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and stiff competition. Despite this, convenience and availability of online options continue to drive growth in the Bread & Cereal Products Market, within the larger Food Market.
Customer preferences: As consumer awareness of the importance of healthy eating habits continues to rise, there is a growing demand for breakfast cereals that cater to specific dietary needs and lifestyles. This has led to a surge in gluten-free, organic, and plant-based options in the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market. Additionally, convenience and time-saving are key considerations for consumers, leading to a rise in demand for on-the-go breakfast options such as breakfast bars and instant oatmeal cups. These trends are driven by the increasing number of busy individuals seeking quick and nutritious breakfast solutions.
Trends in the market: In the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market, there is a noticeable trend towards healthier breakfast options. This includes the incorporation of more whole grains, natural sweeteners, and functional ingredients such as probiotics. This trend is driven by consumers' increasing demand for nutritious and convenient breakfast options. Industry stakeholders are responding by innovating and expanding their product lines to meet this demand, which is expected to have a positive impact on the market's growth trajectory. Additionally, there is a growing focus on sustainability and environmentally-friendly packaging in the market, which is likely to have long-term implications for industry players.
Local special circumstances: In the EAEU region, the Breakfast Cereals Market is heavily influenced by the cultural preferences and dietary habits of the local population. For example, in Russia, breakfast cereals are not considered a traditional breakfast option, leading to lower consumption rates compared to Western countries. Furthermore, strict regulations on food labeling and advertising also impact the market dynamics. In Kazakhstan, the market is driven by the demand for healthy and convenient breakfast options, leading to the introduction of locally produced cereals with traditional ingredients.
Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is greatly impacted by macroeconomic factors. Economic trends, both globally and nationally, play a significant role in shaping the market. Fiscal policies, such as trade agreements and tax policies, can also have a major influence on the market's performance. Other financial indicators, such as consumer spending and inflation rates, can also affect the demand for breakfast cereals. Furthermore, economic health, in terms of GDP, employment rates, and income levels, can impact consumers' purchasing power and their willingness to spend on breakfast cereals. Overall, a stable and growing economy can contribute to a positive market outlook for the Breakfast Cereals Market within The Food 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
