Bread & Cereal Products - Guyana | Statista Market Forecast

Revenue in the Bread & Bakery Products market amounts to US$59.52m in 2024. The market is expected to grow annually by 6.36% (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$72.62 are generated in 2024.
In the Bread & Bakery Products market, volume is expected to amount to 83.90m kg by 2029. The Bread & Bakery Products market is expected to show a volume growth of 1.8% in 2025.0.
The average volume per person in the Bread & Bakery Products market is expected to amount to 90.5kg 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 Guyana has seen slow growth in recent years due to factors such as limited consumer awareness and affordability, lack of technological advancements, and traditional preferences for home-cooked meals. However, with increasing health consciousness and the convenience of online shopping, the market is expected to experience moderate growth in the coming years.

Customer preferences: With the rise of health consciousness and the increasing prevalence of gluten-free and vegan diets, consumers in Guyana are gravitating towards alternative bread and cereal options. This has led to a growing demand for products made with alternative grains like quinoa and millet, as well as gluten-free and vegan options such as almond and coconut flour. Additionally, there is a growing trend towards locally sourced and organic bread and cereal products, as consumers become more aware of the environmental and health benefits of sustainable and natural food choices.

Trends in the market: In Guyana, the Bread & Cereal Products Market is experiencing a shift towards healthier and more sustainable options. There is a growing demand for whole grain and gluten-free products, as well as a trend towards locally sourced and organic ingredients. This is driven by a rising awareness of the importance of a healthy diet and the impact of food production on the environment. Industry stakeholders have an opportunity to capitalize on this trend by offering a wider range of options and promoting transparency in their sourcing and production methods. Additionally, there is a potential for partnerships with local farmers and producers to support the growth of the local food industry.

Local special circumstances: In Guyana, the Bread & Cereal Products Market is heavily influenced by the country's agricultural sector and its reliance on traditional farming practices. This has resulted in a high demand for locally produced grains and cereals, with a focus on organic and sustainable options. Additionally, Guyanese cuisine heavily incorporates bread and cereal products, leading to a strong domestic market. The country's diverse cultural influences also play a role, as various ethnic communities have their own unique preferences and variations of these products. Government initiatives promoting local food production further drive market dynamics in this sector.

Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Guyana is impacted by several macroeconomic factors. Global economic trends, such as fluctuations in commodity prices and currency exchange rates, can affect the cost of raw materials and production, ultimately impacting market prices. Additionally, the national economic health of Guyana, including factors such as GDP growth, inflation, and unemployment, can influence consumer spending and demand for bread and cereal products. Fiscal policies, such as taxes and subsidies, also play a role in shaping the competitiveness and profitability of the market. Other relevant financial indicators, such as consumer confidence and household income, can also impact 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.

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.