Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products market in the Bread & Cereal Products market within The Food market Worldwide is experiencing minimal growth. Factors impacting this growth rate include low consumer awareness and limited availability of innovative products.
Customer preferences: As consumer preferences continue to evolve, there has been a growing demand for gluten-free and plant-based options within the Other Cereal Products Market. This trend is largely driven by an increasing awareness of health and environmental concerns, as well as a rising number of individuals with dietary restrictions. As a result, brands are exploring innovative ways to cater to these preferences, such as incorporating ancient grains and alternative flours into their products. Additionally, the rise of e-commerce and social media has made it easier for consumers to discover and purchase these niche products.
Trends in the market: In the worldwide Other Cereal Products Market, there is a growing demand for healthier and more diverse options, such as gluten-free and organic cereal products. This trend is expected to continue as consumers become more health-conscious and seek out alternatives to traditional cereal products. Additionally, there is a rise in the use of alternative grains, such as quinoa and amaranth, in cereal products. This trend has significant implications for industry stakeholders, as it presents opportunities for market expansion and product innovation. Furthermore, with the increasing popularity of e-commerce, online platforms are becoming a key distribution channel for cereal products, allowing for easier access to a global market.
Local special circumstances: In the Other Cereal Products Market, local factors such as changing consumer preferences towards healthier breakfast options and the rise of gluten-free and organic products have driven market growth in North America and Europe. In Asia-Pacific, the market is influenced by the growing demand for convenience foods and the adoption of Western food culture. Regulatory policies promoting food fortification and fortifying cereals with essential nutrients have also played a significant role in market dynamics globally.
Underlying macroeconomic factors: The Other Cereal Products market within the Bread & Cereal Products market is also impacted by macroeconomic factors such as the overall health of the global economy, national economic policies, and fiscal measures. Countries with robust economic growth and favorable policies that encourage investment in the food industry are experiencing higher demand for other cereal products, thus driving market growth. Moreover, the increasing health consciousness among consumers and the growing trend of healthy snacking are also contributing to the growth of this market.
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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