Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in the Bread & Cereal Products Market within The Food market in G20 has been experiencing minimal growth. Factors such as changing consumer preferences, increasing health consciousness, and stiff competition are impacting the growth rate of this market.
Customer preferences: As more consumers prioritize health and wellness, the Breakfast Cereals Market in the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for healthier and more convenient options. This has led to an increase in the availability of organic, gluten-free, and plant-based cereal options. Additionally, there is a growing demand for breakfast cereals that cater to specific dietary needs, such as high-protein or low-sugar options. These shifts reflect a growing trend towards healthier and more personalized breakfast choices among consumers.
Trends in the market: In the Breakfast Cereals Market, there is a noticeable trend towards healthier and more nutritious options, driven by increasing consumer demand for healthier breakfast choices. Manufacturers are responding by introducing products with whole grains, fewer added sugars, and natural ingredients. This trend is expected to continue, with more emphasis on clean labels and functional ingredients. In addition, there is a growing demand for personalized and convenient options, leading to the development of on-the-go breakfast snacks and subscription services for customized cereal blends. These trends have significant implications for industry stakeholders, as they will need to adapt their product offerings and marketing strategies to cater to changing consumer preferences. It also presents opportunities for collaborations with health and wellness brands and leveraging technology to offer personalized options.
Local special circumstances: In the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market, the G20 countries play a significant role due to their large populations and high consumption of breakfast cereals. However, each country has unique factors that influence the market. In China, the market is driven by the growing health consciousness among consumers, leading to a demand for healthier and functional breakfast cereals. In Argentina, the market is influenced by government regulations promoting the consumption of fortified cereals to combat malnutrition. These local factors contribute to the overall dynamics of the breakfast cereals market within the G20 countries.
Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is impacted by macroeconomic factors such as consumer spending patterns, economic growth, and government policies. In countries with strong economic growth and stable consumer spending, the demand for breakfast cereals is expected to increase. Additionally, favorable government policies, such as subsidies for nutritious food options, can also drive market growth. On the other hand, economic downturns and low consumer confidence can lead to a decline in demand for breakfast cereals. Furthermore, fluctuations in commodity prices, such as wheat and corn, can affect the production costs of cereal manufacturers and ultimately impact market prices.
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)
