Other Cereal Products - BRICS | Statista Market Forecast

The Other Cereal Products market in the BRICS region is experiencing minimal growth, influenced by factors such as changing consumer preferences and availability of alternative breakfast options. Despite this, convenience and health consciousness continue to drive demand for online cereal products.

Customer preferences: With the rise of health and wellness trends, there has been a noticeable increase in demand for gluten-free and organic cereal products within the Other Cereal Products Market of the Bread & Cereal Products Market. This is due to a growing awareness and preference for natural and healthy food options. Additionally, there has been a shift towards convenience and time-saving solutions, leading to a rise in single-serve cereal products and on-the-go breakfast options.

Trends in the market: In the BRICS and Other Cereal Products Market of the Bread & Cereal Products Market, there is a growing trend towards healthier and more diverse cereal options. This trend is driven by increasing consumer awareness of the importance of a balanced and nutritious diet, as well as the rise of health-conscious lifestyles. As a result, there has been a surge in demand for gluten-free, organic, and plant-based cereal products. This trend is expected to continue, with industry players investing in research and development to innovate and meet the evolving consumer demands. Additionally, there is a shift towards sustainable and environmentally friendly practices in the production and packaging of cereal products, in line with global efforts to reduce food waste and carbon footprint. This trend presents opportunities for industry stakeholders to differentiate their products and appeal to the growing segment of conscious consumers. However, it also poses challenges such as higher production costs and potential supply chain disruptions. Therefore, it is crucial for industry players to closely monitor and adapt to these trends to stay competitive in the market.

Local special circumstances: In the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market, unique local factors play a key role. For example, in China, the market is heavily influenced by the country's rich culinary culture and preference for traditional, grain-based breakfast options. In South Africa, the market is driven by the high demand for gluten-free and health-conscious products, as well as the growing popularity of local cereals such as sorghum and millet. These factors shape consumer behavior and drive innovation in the market, making it distinct from other markets.

Underlying macroeconomic factors: The growth of the Other Cereal Products market is also influenced by macroeconomic factors such as consumer spending patterns, population demographics, and government policies. Countries with a growing middle class and increasing disposable income are expected to see higher demand for convenience food products, including Other Cereal Products. In addition, government initiatives promoting healthy eating habits and increasing awareness of the benefits of whole grains are also expected to drive market growth. Furthermore, the rising population and changing dietary preferences in developing countries are creating new opportunities for market players to expand their product offerings and reach new consumers.

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.