Bread & Cereal Products - Cyprus | Statista Market Forecast

Revenue in the Bread & Bakery Products market amounts to US$275.60m in 2024. The market is expected to grow annually by 4.85% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$278bn in 2024).
In relation to total population figures, per person revenues of US$217.30 are generated in 2024.
In the Bread & Bakery Products market, volume is expected to amount to 89.85m kg by 2029. The Bread & Bakery Products market is expected to show a volume growth of 3.5% in 2025.0.
The average volume per person in the Bread & Bakery Products market is expected to amount to 61.1kg in 2024.

Definition:

The Bread & Cereal Products market covers baked goods made from dough. Dough consists of flour, water, a leavening agent, and other optional ingredients. Cereal products are made from a variety of grains, such as wheat, oats, and rice.

Structure:

The market consists of five different submarkets:

The Bread market covers baked goods made from dough which consist of flour, water, a leavening agent, and other optional ingredients.
The Pasta market covers fresh and dried pasta and noodles made from cereals that are usually used as part of a main meal.
The Rice market covers several rice varieties, such as long-grain rice, medium-grain rice, short-grain rice, white rice, brown rice, and wild rice, as well as sticky rice and parboiled rice.
The Breakfast Cereals market covers muesli and other grain-based breakfast products such as corn flakes and oats.
The Other Cereal Products market covers other products that are made from cereals, such as flour, baking flour, semolina, couscous, and bulgur.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Fresh bread and bread rolls
Pasta
Rice
Breakfast cereals
Other cereal products (e.g. Flour, couscous, bulgur)

Biscuits
Cookies
Crackers
Cakes
Baby rice cereals and other baby cereals
Ready-to-eat meal based on cereals
Out-of-home consumption

The Bread & Cereal Products market in Cyprus is experiencing minimal growth, influenced by factors such as consumer preference for traditional foods, limited availability of locally sourced ingredients, and low purchasing power. Despite this, the market is expected to see a slight increase due to the convenience and variety offered by breakfast cereals and other cereal products, as well as the rising health awareness among consumers.

Customer preferences: As consumers become more health-conscious, there has been a growing demand for gluten-free and organic options in the Bread & Cereal Products Market within The Food market in Cyprus. This trend is largely driven by an increasing awareness of the potential health benefits associated with such products. Additionally, there has been a shift towards more sustainable and environmentally-friendly choices, with consumers opting for products that are locally sourced and produced using sustainable practices. This trend is also influenced by the growing preference for supporting small and local businesses within the community.

Trends in the market: In Cyprus, there is a growing trend in the Bread & Cereal Products Market to offer a wider variety of gluten-free and organic options in response to consumer demand for healthier and more sustainable products. This trend is expected to continue as consumers become more health-conscious and seek out these types of products. Industry stakeholders should take note of this trend and consider expanding their product offerings to cater to this growing market segment. Additionally, there is a rise in online grocery shopping and delivery services, which has increased the availability and accessibility of bread and cereal products. This trend is likely to continue, providing opportunities for industry players to reach a wider consumer base and streamline their distribution processes.

Local special circumstances: In Cyprus, the Bread & Cereal Products Market within The Food market is heavily influenced by the country's Mediterranean climate and cultural preferences for traditional, locally-grown ingredients. The demand for healthier options has also led to the rise of organic and artisanal bread and cereal products. Additionally, the country's strict regulations on food safety and labeling have shaped consumer preferences and market competition.

Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Cyprus is influenced by several macroeconomic factors. Global economic trends, such as changes in consumer preferences and shifting dietary patterns, can impact the demand for bread and cereal products. Fluctuations in national economic health, such as changes in GDP and inflation rates, can also affect consumer spending on food items. Fiscal policies, such as import tariffs and subsidies, can impact the cost of raw materials and production, which can ultimately affect market performance. Other relevant financial indicators, such as exchange rates and interest rates, can also influence the competitiveness of the market. Overall, a stable and growing economy, with supportive fiscal policies, can lead to a more favorable market environment for bread and cereal products.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Diets in high-income countries such as the United States consist of a lot of fats, animal products, sweeteners, and other products in addition to the ever-present food staples such as bread. Despite the comparatively lower share of staples in the food supply of these nations, staples still make up the majority of food intake. For example, consumers in the United States eat quite a lot of bread annually. Bread consumption in the U.S. amounts to 6.64 billion kilograms, or 19.84 kilograms per capita. In addition to bread, Americans consume a sizable amount of cake and pastry goods, namely 8.6 billion kilograms in 2022.