Key regions: India, South Korea, United Kingdom, United States, Spain
The Pasta market in NAFTA is experiencing minimal growth due to factors such as limited innovation and competition from other food products. Despite increasing health awareness, consumers are less likely to prioritize pasta in their diets. Online platforms offering convenience have also impacted the traditional sales of pasta in this market.
Customer preferences: As consumers become more health-conscious, there is a growing demand for gluten-free and organic pasta options in the Bread & Cereal Products Market within The Food market. This trend is driven by an increasing awareness of the potential health benefits associated with these products, as well as a rise in the number of people with dietary restrictions such as gluten intolerance and celiac disease. Additionally, the rise in popularity of plant-based diets is also contributing to the growth of the pasta market, as more consumers are opting for vegetarian and vegan options.
Trends in the market: In the Pasta Market of the Bread & Cereal Products Market within The Food market, there is a growing trend towards healthier and more diverse options. Consumers are becoming more health-conscious and are seeking out products that are made with whole grains, gluten-free, and organic ingredients. This trend is expected to continue as consumers prioritize health and wellness in their food choices. Additionally, there is a rising demand for plant-based and meat-free options in the pasta market, driven by the growing popularity of vegetarian and vegan diets. This shift towards healthier and more diverse options in the pasta market presents opportunities for industry stakeholders to cater to this growing demand and differentiate themselves from competitors.
Local special circumstances: In the Pasta Market of the Bread & Cereal Products Market within The Food market, Mexico stands out as a major player due to its close proximity and strong trade ties with the US. The implementation of NAFTA has greatly benefited the Mexican pasta market, as it allows for duty-free trade with the US and Canada. Additionally, the country's rich culinary traditions and cultural preferences for pasta dishes have contributed to the market's growth. However, strict regulations on imported wheat and increasing competition from local brands pose challenges for foreign pasta companies entering the Mexican market.
Underlying macroeconomic factors: The macroeconomic factors influencing the Pasta Market of the Bread & Cereal Products Market within The Food market are diverse and complex. The global economic trends, such as increasing urbanization, rising disposable incomes, and changing dietary preferences, are driving the demand for pasta products. Furthermore, the national economic health of a country, including its GDP growth, inflation rate, and employment rate, can impact the purchasing power of consumers and their willingness to buy pasta products. In terms of fiscal policies, government subsidies, trade agreements, and tariffs can also affect the production and distribution costs of pasta, ultimately influencing market performance. Other relevant financial indicators, such as foreign exchange rates and commodity prices, can also have a significant impact on the profitability of the pasta 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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