Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in North America is experiencing a stagnant growth rate due to various factors such as changing consumer preferences, increasing competition, and the shift towards healthier breakfast options. This has resulted in a negligible growth rate for the Bread & Cereal Products Market in The Food market.
Customer preferences: As health consciousness continues to rise in North America, consumers are gravitating towards healthier breakfast options, leading to a surge in demand for organic and plant-based breakfast cereals. Additionally, there is a growing preference for convenient, on-the-go breakfast options, such as breakfast bars and single-serve cereal cups, reflecting the busy lifestyles of individuals in this market.
Trends in the market: In North America, the Breakfast Cereals Market within the Bread & Cereal Products Market is experiencing a shift towards healthier, more natural options in response to consumer demand for better-for-you products. This trend is expected to continue as more consumers prioritize health and wellness, leading to a rise in gluten-free, organic, and non-GMO breakfast cereal options. Additionally, there is a growing focus on sustainability and ethical sourcing in the industry, with companies using eco-friendly packaging and supporting fair trade practices. These trends have significant implications for industry stakeholders as they must adapt to changing consumer preferences and innovate to stay competitive in the market.
Local special circumstances: In North America, the Breakfast Cereals Market within the Bread & Cereal Products Market has been heavily influenced by changing consumer preferences towards healthier and convenient breakfast options. Rising health consciousness and busy lifestyles have led to the demand for high-protein and whole grain cereals. Additionally, the regulatory environment has played a significant role, with increasing government initiatives to reduce sugar and sodium levels in breakfast cereals. This has resulted in the development of new products and formulations in the market, catering to the changing needs of consumers.
Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending habits, population demographics, and government policies on food and nutrition. In North America, the market is largely driven by the high demand for convenient and healthy breakfast options, which has been further accelerated by the rise of health consciousness among consumers. Additionally, factors such as rising disposable income, increasing urbanization, and changing lifestyles have also contributed to the growth of the breakfast cereals market in this region. Moreover, government initiatives promoting healthy eating habits and investing in food and nutrition programs have also played a significant role in shaping the market landscape.
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.
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