Breakfast Cereals - Guatemala

Guatemala

Highlights

Revenue in the Breakfast Cereals market amounts to US$234.30m in 2024. The market is expected to grow annually by 6.75% (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$12.76 are generated in 2024.
In the Breakfast Cereals market, volume is expected to amount to 39.15m kg by 2029. The Breakfast Cereals market is expected to show a volume growth of 3.7% in 2025.0.
The average volume per person in the Breakfast Cereals market is expected to amount to 1.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Breakfast Cereals Market in Guatemala is experiencing minimal growth, influenced by factors such as low consumer health awareness and limited adoption of digital technologies. Convenience offered by online services is not a major driver in this market.

Customer preferences: As Guatemalan consumers become more health-conscious, there has been a notable increase in demand for breakfast cereals that are perceived as healthy and nutritious. This trend is driven by a growing awareness of the importance of a balanced diet and the benefits of a nutritious breakfast. Additionally, the rise in urbanization and busy lifestyles has led to a greater preference for convenient and on-the-go breakfast options, making breakfast cereals a popular choice among Guatemalan consumers.

Trends in the market: In Guatemala, there is a growing trend of health-conscious consumers turning to breakfast cereals as a convenient and nutritious breakfast option. This trend is fueled by an increasing focus on healthy lifestyles and a rising demand for on-the-go breakfast options. Additionally, there is a surge in the availability and variety of gluten-free and organic breakfast cereals to cater to different dietary preferences. These trends are significant as they indicate a shift towards healthier eating habits and present opportunities for industry stakeholders to tap into this growing market. However, there may be challenges in terms of meeting consumer expectations and competing with traditional breakfast options such as tortillas and tamales.

Local special circumstances: In Guatemala, the Breakfast Cereals Market is heavily influenced by the country's rich history and diverse cultural traditions. The market is driven by a strong demand for traditional breakfast cereals made from locally grown grains and ingredients. Additionally, the government's efforts to promote healthy eating habits have led to the rise of organic and natural breakfast cereal options in the market. Moreover, the country's unique geography, with its fertile soil and favorable climate, allows for the production of a wide variety of cereals, making Guatemala a prime market for breakfast cereal manufacturers.

Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market in Guatemala is heavily influenced by macroeconomic factors such as consumer spending habits, government policies, and economic stability. As Guatemala continues to experience steady economic growth and increasing disposable income among its population, there is a growing demand for convenient and affordable breakfast options, leading to a rise in the consumption of breakfast cereals. Additionally, government initiatives to promote healthy eating habits and the growing trend of on-the-go breakfast consumption are further contributing to the growth of this market. However, factors such as high import tariffs and fluctuating raw material prices may hinder market growth in the country.

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.