Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market within the Bread & Cereal Products Market in New Zealand has a negligible growth rate, impacted by factors such as competition from other food categories and consumer preferences for healthier breakfast options. However, the market is expected to see some growth due to increasing health consciousness and the convenience of online shopping.
Customer preferences: As consumers become more health-conscious, there has been a rise in demand for gluten-free and organic options in the Other Cereal Products Market. This trend is driven by a growing awareness of food sensitivities and the desire for cleaner and more natural ingredients. Additionally, there has been an increase in plant-based and vegan options in this market, catering to the growing number of individuals adopting a plant-based lifestyle.
Trends in the market: In New Zealand, the Other Cereal Products Market within the Bread & Cereal Products Market is experiencing a shift towards healthier and more sustainable options. This trend is being driven by consumer demand for products made with whole grains, ancient grains, and gluten-free alternatives. Additionally, there is a growing focus on locally sourced and organic ingredients. These trends are significant as they reflect a shift towards healthier and more environmentally friendly food choices, and have potential implications for industry stakeholders to adapt their product offerings to meet these evolving consumer preferences.
Local special circumstances: In New Zealand, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's strong agricultural industry and its emphasis on sustainable farming practices. The market is also impacted by the country's diverse cultural influences, resulting in unique cereal product offerings such as Māori-inspired breakfast cereals and gluten-free options for a growing health-conscious population. Additionally, the country's strict regulations on food labeling and safety contribute to the market dynamics, with consumers placing a high value on locally-sourced and organic cereal products.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market in New Zealand is influenced by macroeconomic factors such as consumer spending patterns, government policies, and changes in consumer preferences for healthier and more convenient food options. The country's stable economic growth, favorable business environment, and strong investment in the food industry have contributed to the market's growth. Additionally, the increasing health consciousness and the growing trend of plant-based and gluten-free diets are driving the demand for other cereal products, such as granola bars and oatmeal, in the country.
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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