Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products Market in Jordan is facing stagnant growth, influenced by factors such as limited consumer awareness and low adoption of digital technologies. However, the convenience of online services and increasing health consciousness may drive future growth.
Customer preferences: As Jordan's economy continues to grow and urbanization increases, there has been a noticeable shift in consumer preferences towards convenience foods and on-the-go options. This has led to a rise in demand for packaged bread and cereal products, as they offer a quick and easy solution for busy individuals. Additionally, there is a growing awareness among consumers about the importance of healthy eating, leading to a rise in demand for whole grain and organic bread and cereal products. This trend is expected to continue as consumers become more health-conscious and seek out nutritious options in their diet.
Trends in the market: In Jordan, the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, as consumers become more health-conscious. This trend is driven by rising concerns over obesity and chronic diseases. As a result, there is a growing demand for whole grain and gluten-free products, as well as fortified and organic options. Industry stakeholders are adapting by introducing new product lines and promoting the health benefits of their offerings. However, this trend also presents challenges, such as higher production costs and the need for education and awareness among consumers.
Local special circumstances: In Jordan, the Bread & Cereal Products Market within The Food market is heavily influenced by cultural and religious factors. The country has a large Muslim population, and as a result, there is a high demand for halal-certified products. Additionally, Jordanian cuisine heavily relies on bread and cereals, making this market a crucial part of the local food industry. The government also plays a role in regulating the market, ensuring the quality and safety of these products for consumers. These unique factors shape the market dynamics, making it distinct from other markets in the region.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Jordan is heavily influenced by macroeconomic factors such as the country's national economic health, global economic trends, fiscal policies, and other relevant financial indicators. As a developing economy, Jordan has seen significant growth in its food market, driven by factors such as increasing population, rising disposable incomes, and urbanization. Moreover, Jordan's strategic location makes it a key player in the Middle East and North Africa region, further boosting its food market. However, the market is also affected by challenges such as inflation, fluctuating exchange rates, and political instability, which can impact consumer spending and overall 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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