Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in the ASEAN region is experiencing minimal growth due to factors such as low consumer awareness and limited availability of online services. Despite this, the market is expected to expand gradually in the coming years.
Customer preferences: With the rise of health-consciousness in ASEAN, consumers are gravitating towards healthier alternatives, such as gluten-free and organic cereal products. This trend is driven by an increasing awareness of the benefits of a balanced diet and the rise of lifestyle diseases. Additionally, the growing demand for plant-based and vegan options is also influencing the Other Cereal Products Market, as more individuals are adopting a flexitarian approach to their diets.
Trends in the market: In the ASEAN region, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, driven by increasing health consciousness among consumers. This has led to a surge in demand for gluten-free and organic cereal products. Additionally, there is a growing trend of incorporating alternative grains such as quinoa and amaranth into traditional cereal products. These trends are significant as they indicate a shift towards more diverse and nutritious options in the market. Industry stakeholders should capitalize on these trends by expanding their product offerings and investing in marketing strategies to target health-conscious consumers.
Local special circumstances: In ASEAN, the Other Cereal Products Market of the Bread & Cereal Products Market is heavily influenced by the diverse culinary traditions and preferences of the region's countries. For example, in Indonesia, the market is dominated by traditional snacks like rempeyek and kerupuk, while in Thailand, consumers favor cereal bars and granola as on-the-go breakfast options. Moreover, the increasing health consciousness in the region has led to a rise in demand for gluten-free and organic cereal products, particularly in Singapore and Malaysia. Additionally, strict regulations on food labeling and safety standards also play a significant role in shaping the market landscape in each ASEAN country.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as international trade policies, global commodity prices, and consumer purchasing power. Countries with stable economic growth and favorable trade agreements are experiencing higher market demand for Other Cereal Products. In contrast, regions with economic instability and limited trade opportunities are facing challenges in market growth. Additionally, the growing trend of health-conscious consumers and increasing demand for gluten-free and organic products are driving the growth of the Other Cereal Products Market in The Food 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.
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