Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in Thailand is experiencing minimal growth, influenced by factors such as low consumer health awareness and lack of convenience in online services. Despite being a part of the thriving Bread & Cereal Products market, it is facing challenges in achieving significant growth.
Customer preferences: The rise of health-consciousness among consumers in Thailand has led to a growing demand for alternative cereal options such as quinoa and millet. This can be attributed to increasing awareness of the potential health benefits of these grains, as well as a desire for more diverse and nutritious breakfast options. Additionally, the trend towards vegetarian and plant-based diets has also contributed to the popularity of these alternative cereal products in the country.
Trends in the market: In Thailand, the Other Cereal Products Market within the Bread & Cereal Products Market is seeing a shift towards healthier and more diverse cereal options, catering to the growing demand for functional and organic foods. This trend is being driven by increasing health consciousness among consumers and a desire for variety and convenience. This presents opportunities for industry players to innovate and differentiate their products, but also poses challenges in terms of sourcing sustainable and high-quality ingredients. Additionally, there is a rise in online grocery shopping and e-commerce platforms, providing a new avenue for companies to reach consumers and expand their market presence.
Local special circumstances: In Thailand, the Other Cereal Products Market within the Bread & Cereal Products Market is heavily influenced by the country's rich agricultural landscape and cultural preferences. The use of locally grown grains and traditional production methods give Thai cereal products a distinct flavor and appeal. Additionally, the government's support for promoting sustainable and organic farming practices has led to the rise of artisanal and niche cereal products in the market. This, coupled with the growing health consciousness among consumers, has resulted in the popularity of alternative and healthier cereal options, such as quinoa and amaranth.
Underlying macroeconomic factors: The growth of the Other Cereal Products Market within the Bread & Cereal Products Market is heavily influenced by macroeconomic factors such as consumer spending power, economic stability, and government policies. Countries with robust economic growth and stable economic conditions are likely to experience higher demand for Other Cereal Products, as consumers have more disposable income to spend on specialty food items. Additionally, government initiatives to promote healthy eating habits and investments in food technology and infrastructure are expected to further drive the growth of the Other Cereal Products Market in Thailand.
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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