Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products market in The Food market of G20 countries has seen minimal growth due to factors such as changing consumer preferences, increasing health consciousness, and competition from alternative breakfast options. Despite this, the market continues to grow steadily, driven by the convenience and affordability of these products.
Customer preferences: One emerging trend in the Bread & Cereal Products Market within The Food market is the growing demand for gluten-free and plant-based options. This is driven by the increasing awareness and adoption of healthier and sustainable diets, as well as the rise of dietary restrictions and preferences among consumers. As a result, companies are innovating and expanding their product lines to cater to this niche market, with a focus on natural and organic ingredients. This trend is expected to continue as more consumers prioritize health and environmental concerns in their food choices.
Trends in the market: In the G20 countries, the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for healthier and more convenient options. This trend is driven by increasing awareness of the importance of a balanced diet and the convenience of on-the-go products. As a result, we are seeing a growing demand for gluten-free, organic, and plant-based options. This trend is expected to continue as consumers prioritize health and convenience, creating opportunities for industry stakeholders to innovate and cater to these evolving preferences.
Local special circumstances: In Australia, the Bread & Cereal Products Market is heavily influenced by the country's vast agricultural production, which allows for a wide variety of locally sourced grains and cereals. This has led to a strong focus on promoting organic and sustainable farming practices, resulting in a growing demand for organic bread and cereal products. Additionally, the country's multicultural population has led to a fusion of flavors and ingredients in bread and cereal products, catering to diverse taste preferences. The government's strict regulations on food labeling and quality standards also play a significant role in shaping the market.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending power, inflation rates, and trade policies. Countries with stable economic growth and low inflation rates tend to have higher demand for bread and cereal products, as consumers have more disposable income to spend on food. Additionally, trade policies, such as tariffs and import/export regulations, can significantly impact the availability and cost of ingredients used in bread and cereal production, ultimately affecting market performance.
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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