Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in NAFTA is experiencing minimal growth due to several factors, including changing consumer preferences and increasing competition. Despite the convenience of online services, traditional cereal products remain popular among consumers. This has impacted the market's growth rate, which remains stagnant.
Customer preferences: With the rise of health-conscious consumers, the Other Cereal Products Market within the Bread & Cereal Products Market has seen a growing demand for gluten-free and organic cereal options. This trend is driven by a shift towards healthier eating habits and a rising awareness of dietary restrictions, particularly among younger generations. As a result, companies are innovating and introducing new products to cater to these preferences and capitalize on this growing market segment.
Trends in the market: In the NAFTA region, there is a growing demand for gluten-free and organic cereal products, as consumers become more health-conscious and seek out healthier options. This trend is expected to continue, driven by increasing awareness of the benefits of a gluten-free diet and the availability of a wider range of organic cereal products. This presents opportunities for industry stakeholders to expand their product offerings and tap into this growing market segment. Additionally, there is a rising trend of incorporating superfoods, such as chia seeds and quinoa, into cereal products, providing added health benefits and appealing to the growing health-conscious consumer base. This trend is expected to have a significant impact on the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market, as manufacturers and retailers look to meet the evolving demands of consumers and stay competitive in the market.
Local special circumstances: In the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market, the unique local factors in NAFTA countries, such as the United States, Canada, and Mexico, play a significant role in shaping market dynamics. In the United States, there is a strong demand for healthy and organic cereal products, leading to the growth of niche brands and private label products. In Canada, the government's strict regulations on food labeling and ingredients have driven consumers towards more natural and organic options. In Mexico, a growing middle class and increasing health consciousness have resulted in a demand for healthier cereal options, leading to the entry of international brands and the rise of local manufacturers specializing in organic and non-GMO products.
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 global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with stable economic conditions and supportive fiscal policies are likely to experience higher demand for cereal products and drive market growth. Additionally, increasing disposable income and changing consumer preferences towards healthier and convenient food options are also expected to contribute to the growth of this market. On the other hand, countries with economic instability and unfavorable fiscal policies may experience slower market growth due to decreased consumer spending and lower demand for cereal products.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
