Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market within the Bread & Cereal Products Market in EAEU is experiencing subdued growth due to various factors. These include low consumer awareness, limited availability of digital technologies, and lack of convenience in online services. Despite this, the market is still expected to grow at a steady pace in the coming years.
Customer preferences: As consumers become more health-conscious, there has been a rise in demand for organic and gluten-free cereal products in the EAEU and other regions. This trend is driven by a growing awareness of the benefits of clean eating and dietary restrictions for various health reasons. Additionally, there has been a shift towards natural and whole grain options, reflecting a preference for minimally processed and nutrient-dense foods. This trend is likely to continue as consumers prioritize their health and well-being.
Trends in the market: In the EAEU, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is seeing a rise in demand for gluten-free and organic options. This trend is driven by increasing health consciousness among consumers and a growing preference for natural and holistic products. This shift towards healthier alternatives has led to the introduction of innovative products such as ancient grain cereals and plant-based snacks. These trends hold significant implications for industry players, as they must adapt to changing consumer preferences and invest in research and development to stay competitive in the market.
Local special circumstances: In the EAEU region, the Other Cereal Products Market is heavily influenced by the traditional consumption of bread and other cereal-based products, such as porridges and pastries. However, unlike other markets, the EAEU has a strong emphasis on locally-sourced ingredients and artisanal production methods, which has resulted in a unique range of high-quality and diverse cereal products. Additionally, regulatory restrictions on imported grains have further strengthened the local cereal industry, creating a strong demand for locally-made products.
Underlying macroeconomic factors: The growth of the Other Cereal Products Market in the Bread & Cereal Products Market within The Food market is influenced by macroeconomic factors such as changing consumer preferences, economic stability, and government policies. Countries with a strong economy and favorable government policies that promote healthy eating habits are experiencing a higher demand for other cereal products. Additionally, the increasing focus on health-conscious diets and the availability of a wide variety of cereal products are also contributing to market growth.
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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