Key regions: Canada, United States, Russia, India, Spain
The Breakfast Cereals Market in the Bread & Cereal Products Market within The Food market Worldwide is experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing competition, and fluctuating raw material prices. Despite this slow growth rate, the market is expected to continue expanding due to the convenience and health benefits offered by breakfast cereals.
Customer preferences: With the rise of health-conscious consumers, the breakfast cereals market has seen a growing demand for organic and non-GMO options. This trend is driven by a desire for cleaner, more natural products. Additionally, there is a growing interest in plant-based and gluten-free breakfast cereals, reflecting a shift towards healthier and more inclusive diets. As consumers become more mindful of their food choices, there is also a growing demand for cereals fortified with vitamins and minerals, catering to specific dietary needs. This shift towards healthier and customizable breakfast options is expected to continue as consumers prioritize their well-being and seek out products that align with their values and preferences.
Trends in the market: In the Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market, there is a growing trend towards healthier, more nutritious options. Consumers are increasingly seeking out products made with whole grains, ancient grains, and superfoods such as quinoa and chia seeds. This trend is driven by a growing awareness of the importance of a balanced diet and the desire for convenient, ready-to-eat breakfast options. As a result, industry stakeholders are investing in research and development to meet this demand, and we can expect to see a continued rise in healthier breakfast cereal options in the coming years.
Local special circumstances: In the Breakfast Cereals Market, regional preferences play a significant role in shaping the market dynamics. For example, in Western countries, consumers prioritize convenience and health benefits, leading to a rise in demand for on-the-go breakfast options and products with natural and organic ingredients. On the other hand, in Asian countries, such as China and Japan, traditional breakfast options like rice and noodles still dominate, but there is a growing trend towards Western-style breakfast cereals. Additionally, regulatory factors, such as restrictions on food advertising and labeling, also impact the marketing strategies and product offerings in different regions.
Underlying macroeconomic factors: The Breakfast Cereals Market of the Bread & Cereal Products Market within The Food market is greatly impacted by macroeconomic factors such as economic growth, consumer purchasing 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 and are more health-conscious. Additionally, government initiatives promoting healthy eating habits and investing in food processing and packaging technologies are driving the growth of the breakfast cereals market. However, economic downturns and fluctuations in exchange rates can negatively affect market growth by reducing consumer spending and increasing production costs. Moreover, changing consumer preferences and dietary trends, influenced by global economic trends, can also impact the demand for breakfast cereals.
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)
