Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products market within The Food market in G7 has seen a slow growth rate due to factors such as changing consumer preferences, increased competition, and economic uncertainty. Despite this, the market is expected to experience some growth as consumers continue to prioritize convenience and health-consciousness in their food choices. The demand for products in this market is also being driven by the increasing adoption of digital technologies, which has made it easier for consumers to access and purchase these products online. However, the market is also facing challenges such as fluctuating raw material prices and changing regulations, which may impact its growth in the near future.
Customer preferences: The Bread & Cereal Products Market within The Food market has witnessed a rise in demand for healthier options, due to an increasing awareness of the link between diet and overall health. This has led to a surge in demand for gluten-free, organic and plant-based products. Additionally, there has been a growing preference for convenience and sustainability, with consumers seeking out products that are easy to prepare and have a lower environmental impact. These changing consumer preferences have also led to an increase in the popularity of meal delivery services that offer healthy, sustainable and convenient options.
Trends in the market: In the G7 countries, the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options. Consumers are increasingly seeking out whole grain and gluten-free options, driving sales for these products. Additionally, there is a growing demand for convenience and on-the-go breakfast options, leading to an increase in the availability of single-serve cereal cups and breakfast bars. This trend is expected to continue as health-conscious consumers continue to prioritize convenience and nutrition in their food choices. Industry stakeholders should capitalize on these trends by expanding their product offerings to cater to these changing consumer preferences.
Local special circumstances: In Japan, the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique cultural preferences. The traditional Japanese diet includes rice and noodles as staples, leading to a high demand for these products in the market. Additionally, the country's strict regulations on food labeling and safety standards have a significant impact on the market, as consumers prioritize the quality and origin of their food. Furthermore, the growing interest in health and wellness has led to an increase in demand for healthier options in the Bread & Cereal Products Market, such as whole grain and gluten-free products.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The demand for bread and cereal products is closely tied to consumer spending power, which is impacted by economic conditions. In countries with strong economic growth and stable inflation rates, the market for bread and cereal products is expected to experience steady growth. Additionally, government policies that support agriculture and food production, as well as investments in infrastructure and transportation, can also have a significant impact on the performance of the Bread & Cereal Products Market.
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)
