Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in Portugal is experiencing minimal growth, due to factors such as limited consumer awareness and competition from traditional cereal products. This has led to a slow growth rate in the market, despite the convenience offered by online purchasing options.
Customer preferences: The Other Cereal Products Market in Portugal has seen a rise in demand for gluten-free and organic options, driven by the increasing health consciousness among consumers. This trend is also influenced by the growing number of individuals with gluten intolerance and the preference for natural and sustainable products. Moreover, the rise of veganism and flexitarianism has led to a shift towards plant-based cereal products, catering to the evolving dietary preferences of consumers.
Trends in the market: In Portugal, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is experiencing a surge in demand for healthier and more diverse options. This trend is driven by changing consumer preferences towards natural, organic, and gluten-free products. As a result, industry players are investing in research and development to innovate and introduce new products to meet the evolving demands. Moreover, the rise of e-commerce and online grocery shopping is providing consumers with convenient access to a wider variety of cereal products, further fueling the growth of this market. This trend is expected to continue in the future, with potential implications for industry stakeholders such as increased competition, the need for sustainable sourcing, and the importance of digital marketing and online presence to reach and engage with consumers.
Local special circumstances: In Portugal, the Other Cereal Products Market of the Bread & Cereal Products Market is heavily influenced by the country's long history of wheat production and consumption. Traditional Portuguese breads, such as the famous Broa de Milho, are made with locally-grown cornmeal. Additionally, strict regulations on labeling and production processes have helped to maintain the quality and authenticity of Portuguese cereals and breads. These factors contribute to the unique flavor and texture profiles of Portuguese cereal products, setting them apart from other markets.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market in Portugal is also influenced by macroeconomic factors such as consumer spending, inflation rates, and government policies. Countries with stable economic conditions and higher levels of consumer spending tend to have higher demand for food products, including other cereal products. Furthermore, government policies that support the food industry and promote healthy eating habits can also impact market performance. In addition, fluctuations in global economic trends can also affect the availability and cost of raw materials used in the production of other cereal products, which can ultimately impact market growth.
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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