Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in the APAC region within the Bread & Cereal Products Market is experiencing minimal growth. This can be attributed to various factors such as low consumer awareness, limited availability of online services, and traditional food preferences in the region. Despite this, the market is expected to grow steadily in the coming years.
Customer preferences: The APAC region has seen a rise in demand for gluten-free and plant-based cereal products, as more consumers prioritize health and wellness. This trend is further driven by the increasing prevalence of food intolerances and allergies. Additionally, there has been a growing interest in incorporating traditional and ancient grains, such as quinoa and amaranth, into cereal products, reflecting a desire for more diverse and nutritious options.
Trends in the market: In APAC, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for healthier and more diverse options. This is driven by a growing health consciousness among consumers, as well as an interest in exploring different global cuisines. As a result, there is a shift towards ancient grains, superfoods, and gluten-free options. This trend is expected to continue, with a focus on sustainability and clean labeling. For industry stakeholders, this presents opportunities for product innovation and differentiation, as well as potential challenges in meeting changing consumer preferences and expectations.
Local special circumstances: In Japan, the Other Cereal Products Market is highly influenced by the country's traditional food culture and its emphasis on healthy and natural ingredients. This has led to the popularity of cereal products made from local grains like rice, buckwheat, and millet. Additionally, strict regulations on food labeling and packaging have also shaped consumer preferences and purchasing habits in this market. In Australia, the market is driven by the growing demand for gluten-free and organic cereal products, as the country has a high prevalence of gluten intolerance and a strong focus on sustainable and healthy food options.
Underlying macroeconomic factors: The APAC and Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is primarily influenced by macroeconomic factors such as increasing disposable income, changing consumer preferences towards healthy and convenient food options, and rapid urbanization. Countries with strong economic growth and high consumer spending, such as China and India, are experiencing faster market growth compared to regions with weaker economic conditions. Additionally, government initiatives to promote healthy eating and rising health concerns among consumers are driving the demand for Other Cereal Products in the APAC region.
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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