Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in the EU-27 is experiencing negligible growth, influenced by various factors such as consumer preferences, market saturation, and competition from other food categories. Despite the convenience and health benefits offered by these products, the market is facing challenges in expanding its reach.
Customer preferences: Consumers in the EU-27 and other regions are increasingly opting for alternative cereal products, such as gluten-free and organic options, as they become more health-conscious and environmentally aware. This trend is also driven by the rising demand for plant-based and sustainable food choices. As a result, companies are introducing innovative cereal products made from alternative grains and ingredients, catering to the diverse dietary needs and preferences of consumers.
Trends in the market: In EU-27 and Other Cereal Products Market, there is a noticeable shift towards healthier cereal options, with a focus on natural ingredients and organic products. This trend is driven by increasing health consciousness among consumers and the growing demand for clean label products. As a result, manufacturers are investing in R&D to develop innovative cereal products that cater to this demand. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need for product differentiation. Additionally, there is a growing demand for gluten-free and allergen-free cereal options, which presents opportunities for niche players in the market.
Local special circumstances: In the EU-27, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the region's cultural diversity and consumer preferences. For example, in Spain, the consumption of breakfast cereals is low compared to other European countries due to the traditional preference for a hearty breakfast of bread and cured meats. In Germany, there is a growing demand for organic and gluten-free cereal products, driven by a strong health-conscious consumer base. These unique factors shape the market dynamics and drive product innovation in the region.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is also affected by macroeconomic factors such as consumer spending patterns, disposable income, and overall economic stability. Countries with strong consumer spending power and stable economic conditions tend to have a higher demand for cereal products, driving market growth. Additionally, government policies and subsidies that promote healthy eating habits and the growing trend of convenience foods are also contributing to the growth of this 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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