Key regions: Germany, Italy, Brazil, United States, United Kingdom
Australia is a country that is known for its diverse food culture, and the cereals market is no exception. With a strong focus on health and wellness, the cereal market in Australia has seen significant growth in recent years.
Customer preferences: Australian consumers have become increasingly health-conscious over the years, leading to a rise in demand for healthier breakfast options. This has resulted in a shift towards cereals that are high in fiber, protein, and other nutrients. Consumers are also looking for cereals that are low in sugar and free from artificial colors and flavors.
Trends in the market: One of the main trends in the Australian cereals market is the rise of plant-based options. With a growing number of consumers adopting a vegan or vegetarian lifestyle, there has been a surge in demand for cereals that are made from plant-based ingredients such as oats, quinoa, and chia seeds. Another trend is the increasing popularity of gluten-free cereals, as more consumers are becoming aware of gluten intolerance and celiac disease.
Local special circumstances: Australia is a country with a unique climate and geography, which has a significant impact on the cereals market. Due to the hot and dry climate, the country is not suitable for growing certain types of grains, such as wheat. This has led to a reliance on imported cereals, which can be more expensive than locally produced options. Additionally, the country has a large indigenous population that has a unique food culture, which has influenced the demand for certain types of cereals.
Underlying macroeconomic factors: The Australian cereals market is influenced by several macroeconomic factors, including the country's GDP growth, population growth, and inflation rate. The country's strong economy has led to an increase in disposable income, which has allowed consumers to spend more on premium cereals. Additionally, the country's growing population has led to an increase in demand for cereals, particularly among younger consumers. Finally, the country's low inflation rate has helped to keep cereal prices relatively stable, which has contributed to the market's growth.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, 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.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 S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.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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