Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in North America is experiencing slow growth, impacted by factors such as low consumer demand and increasing competition from alternative breakfast options. Despite the market's negligible growth rate, digital technologies and online convenience continue to drive the overall growth of The Food market in the region.
Customer preferences: The demand for alternative and gluten-free cereal products has been on the rise in North America, driven by a growing health-conscious consumer base. This trend is expected to continue as more people adopt plant-based diets and seek out healthier options. In addition, the use of ancient grains and superfoods in cereal products has gained popularity, catering to consumers looking for functional and nutritious breakfast options. This shift towards healthier and more diverse cereal products is also influenced by the increasing awareness of food intolerances and allergies among consumers.
Trends in the market: In North America, the Other Cereal Products Market within the Bread & Cereal Products Market is experiencing a shift towards healthier and more diverse options. This trend is driven by the increasing consumer demand for gluten-free, organic, and non-GMO products. Additionally, there is a rising interest in alternative grains such as quinoa, amaranth, and sorghum. These trends are significant as they cater to the growing health-conscious consumer base and provide opportunities for innovation and differentiation for industry players. However, they also present challenges in terms of sourcing and production. As such, companies in this market must stay agile and adapt to these changing trends to remain competitive.
Local special circumstances: In North America, the Other Cereal Products Market within the Bread & Cereal Products Market of The Food market is heavily influenced by the increasing demand for gluten-free and organic products. With a higher awareness of health and wellness, consumers are opting for healthier options, leading to the popularity of alternative grains such as quinoa and amaranth. Additionally, the stringent regulations on food labeling and ingredients in the US and Canada have also shaped the market, with a focus on transparency and clean labeling.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market in North America is greatly impacted by macroeconomic factors such as consumer spending, dietary trends, and global trade policies. Countries with higher consumer spending and a growing interest in healthy and convenient food options are experiencing greater market growth compared to regions with economic challenges and limited consumer demand. Additionally, trade policies and tariffs on agricultural products can greatly affect the availability and cost of raw materials, which can impact market performance.
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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