Breakfast Cereals - South America

South America

Highlights

Revenue in the Breakfast Cereals market amounts to US$3.78bn in 2024. The market is expected to grow annually by 6.93% (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$9.14 are generated in 2024.
In the Breakfast Cereals market, volume is expected to amount to 1.27bn kg by 2029. The Breakfast Cereals market is expected to show a volume growth of 5.1% in 2025.0.
The average volume per person in the Breakfast Cereals market is expected to amount to 2.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Breakfast Cereals Market in South America is experiencing subdued growth due to various factors such as changing consumer preferences, increasing competition, and economic instability in the region. Despite this, the market is expected to grow steadily, driven by rising health consciousness and the convenience of ready-to-eat breakfast options.

Customer preferences: As health and wellness continue to be a growing priority among South American consumers, the Breakfast Cereals Market is seeing a rise in demand for healthier and more nutritious options. This trend is driven by a shift towards more health-conscious and active lifestyles, with consumers seeking out products that offer convenience and functionality. Manufacturers are responding by offering a wider variety of fortified and organic cereal options, catering to the evolving preferences of consumers in the region.

Trends in the market: In South America, there is a growing demand for healthier breakfast options, leading to an increase in sales of breakfast cereals made with whole grains and natural ingredients. This trend is driven by a rising awareness of the importance of a balanced diet and a shift towards healthier eating habits. Additionally, there is a growing market for gluten-free and organic breakfast cereals, driven by a growing health-conscious consumer base. These trends are expected to continue on an upward trajectory, providing opportunities for industry stakeholders to tap into this growing market and diversify their product offerings.

Local special circumstances: In Argentina, the Breakfast Cereals market is heavily influenced by the country's strong agricultural industry, as well as its cultural preference for sweet and indulgent breakfast options. This has led to a wide variety of locally-sourced ingredients and unique flavor profiles in the market. Additionally, government regulations on food labeling and advertising have played a significant role in shaping consumer preferences and driving innovation in the industry.

Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market in South America is heavily influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies. Countries with strong economic growth and stable political environments are experiencing higher demand for breakfast cereals, as consumers have more disposable income to spend on convenience foods. Furthermore, favorable government policies, such as subsidies and tax incentives, are also driving market growth by encouraging manufacturers to invest in research and development to improve product offerings. However, economic downturns and currency fluctuations can negatively impact consumption and production, leading to market volatility. Additionally, changing consumer preferences and health concerns are also shaping the market, with demand for healthier, natural, and organic breakfast cereals on the rise.

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.