Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in GCC is seeing slight growth, influenced by factors such as increasing health consciousness and the convenience of online services. This trend is expected to continue due to the region's growing population and changing dietary habits.
Customer preferences: In the GCC and Other Cereal Products Market, there has been a noticeable increase in demand for healthier and more diverse cereal options. This trend is driven by a growing awareness of the importance of a nutritious diet and a desire for more variety in the breakfast options. Additionally, with the rise of health-conscious and environmentally-conscious consumers, there is a growing preference for organic, gluten-free, and plant-based cereal products. This shift in consumer preferences is also influenced by the increasing number of individuals adopting vegetarian and vegan diets in the region.
Trends in the market: In the GCC region, the Other Cereal Products Market within the Bread & Cereal Products Market is witnessing a shift towards healthier options. This trend is driven by an increasing awareness of the benefits of a balanced diet and the rising prevalence of health issues such as obesity and diabetes. As a result, there is a growing demand for products with lower sugar, salt, and fat content. This presents an opportunity for industry stakeholders to innovate and cater to this changing consumer preference. Additionally, there is a rising demand for gluten-free and organic options, which can provide potential growth prospects for market players. Overall, the trajectory of these trends points towards a continued focus on health and wellness in the region, creating opportunities for industry stakeholders to tap into this growing market.
Local special circumstances: In the GCC region, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is influenced by cultural preferences, with a strong demand for traditional cereals such as couscous and bulgur. Additionally, strict halal regulations in countries like Saudi Arabia and the UAE impact the production and consumption of cereal products, leading to the emergence of halal-certified brands in the market. The region's arid climate also plays a role in the market dynamics, with a focus on drought-resistant grains like millet and sorghum.
Underlying macroeconomic factors: The GCC and Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily impacted by macroeconomic factors such as international trade policies, government subsidies, and consumer spending patterns. Countries with stable economic conditions and consumer confidence are experiencing higher demand for Other Cereal Products, as consumers are more willing to try new and expensive products. However, countries with economic instability and high inflation rates may see a decline in market growth due to consumers cutting back on non-essential purchases, including Other Cereal Products. Additionally, the increasing health consciousness and desire for convenient and healthy food options are also influencing the demand for Other Cereal Products in the GCC and other regions. As consumers become more aware of the benefits of incorporating cereal products into their diets, the market is expected to experience sustained growth in the coming years.
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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