Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in the Bread & Cereal Products market within The Food market in G20 has been experiencing minimal growth. Factors such as limited consumer awareness and preference for traditional breakfast options are impacting this slow growth rate.
Customer preferences: The trend towards healthier lifestyles has led to an increase in demand for gluten-free and organic cereal products in the G20 countries. This is driven by a growing awareness of the health benefits associated with these products, as well as a rise in the number of individuals with dietary restrictions or preferences. Additionally, there has been a shift towards more convenient and on-the-go breakfast options, leading to the popularity of single-serving cereal cups and breakfast bars. This trend is also reflected in the growing market for plant-based milk alternatives, as consumers seek healthier and more sustainable options for their breakfast cereals.
Trends in the market: In the G20 and Other Cereal Products Market of the Bread & Cereal Products Market within The Food market, there is a growing trend of incorporating healthier and more nutritious ingredients in cereal products. This is driven by consumer demand for healthier options and government initiatives promoting healthy eating. As a result, there is a rise in the production of gluten-free, high protein, and low sugar cereals. This trend is expected to continue, with implications for industry stakeholders to adapt their product offerings and marketing strategies to cater to this growing demand for healthier cereal options.
Local special circumstances: In the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market, local factors play a significant role in shaping market dynamics. For instance, in Japan, the market for other cereal products is driven by the country's traditional diet, which includes a variety of rice-based cereals. In the United States, the market is influenced by consumer preferences for convenience and health-consciousness, leading to the popularity of ready-to-eat breakfast cereals and cereal bars. In South Africa, the market is driven by a growing demand for gluten-free and organic cereal products, reflecting the country's health and wellness trend.
Underlying macroeconomic factors: The Other Cereal Products Market within the Bread & Cereal Products Market in G20 countries is heavily influenced by macroeconomic factors such as consumer spending, trade policies, and government regulations. The demand for other cereal products is heavily impacted by consumer preferences, which are influenced by factors such as disposable income, health consciousness, and changing dietary habits. Additionally, fluctuations in exchange rates and international trade agreements also play a significant role in shaping the market dynamics of the Other Cereal Products Market. As countries continue to focus on economic recovery, government policies and investments in food and agriculture sectors are expected to have a significant impact on the growth of the Other Cereal Products Market. Furthermore, increasing concerns about food security and sustainability are also driving the demand for other cereal products, as they are seen as a cost-effective and sustainable option for meeting the growing demand for food.
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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