Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in India has seen modest growth due to factors such as increasing health consciousness and convenience of online food services. However, subdued growth rate is impacted by rising competition and changing consumer preferences in the Bread & Cereal Products Market.
Customer preferences: As the demand for convenient and healthy breakfast options increases, consumers in India are turning towards breakfast cereals as a quick and nutritious meal. Furthermore, the trend of on-the-go snacking and busy lifestyles has led to a rise in demand for portable and single-serve cereal packs. This shift towards convenience and health-consciousness is reflected in the growing demand for gluten-free, organic, and high-fiber breakfast cereals. Additionally, with Indian consumers becoming more health-conscious, there is a rising preference for fortified and functional cereals that offer additional health benefits.
Trends in the market: In India, the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, driven by increased health consciousness among consumers. This has led to a rise in demand for whole grain and high fiber cereals, as well as gluten-free and organic options. Additionally, there is a growing trend of incorporating traditional Indian flavors and ingredients into breakfast cereals, catering to the local palate. This trend is expected to continue, with potential implications for industry stakeholders such as manufacturers, retailers, and consumers.
Local special circumstances: In India, the Breakfast Cereals Market within the Bread & Cereal Products Market of The Food market is heavily influenced by cultural dietary preferences. For example, traditional Indian breakfasts often consist of savory dishes such as idli and dosa, leading to a limited demand for breakfast cereals. However, with the growing urban population and increasing Western influence, there has been a rising trend of incorporating cereals into breakfast options. Additionally, the country's diverse geographical landscape presents challenges for distribution and marketing strategies, requiring companies to adapt to regional preferences and distribution channels.
Underlying macroeconomic factors: The Breakfast Cereals Market in India is greatly impacted by macroeconomic factors such as economic growth, consumer spending patterns, and government policies. As the Indian economy continues to grow, consumers are increasing their spending on packaged food products, including breakfast cereals. Moreover, favorable government initiatives such as the implementation of the Goods and Services Tax (GST) have reduced the tax burden on manufacturers, making the market more attractive for investment. Furthermore, the rising urbanization and changing lifestyles have led to an increasing demand for convenient and healthy breakfast options, driving the growth of the breakfast cereals market in India.
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)
