Key regions: Germany, Italy, Brazil, United States, United Kingdom
The Cereals market in United Kingdom has been experiencing significant changes in recent years.
Customer preferences: Consumers in the United Kingdom are increasingly looking for healthier and more convenient breakfast options, which has led to a shift in their cereal preferences. Many are opting for cereals that are high in protein and fiber, and low in sugar and artificial ingredients. Additionally, there is a growing demand for cereal products that cater to specific dietary needs, such as gluten-free and vegan options.
Trends in the market: As a result of changing consumer preferences, the cereal market in the United Kingdom has seen an increase in the demand for healthier and more specialized products. Many cereal brands have responded to this trend by introducing new products that cater to specific dietary needs and preferences. Additionally, there has been a rise in the popularity of granola and muesli products, which are perceived as healthier and more natural alternatives to traditional cereal options.
Local special circumstances: The United Kingdom has a rich history of cereal production, with many iconic brands originating in the country. However, in recent years, the market has become increasingly competitive, with many new players entering the market and offering innovative products that cater to changing consumer preferences. Additionally, the country's decision to leave the European Union has had an impact on the cereal market, with potential changes to trade agreements and regulations affecting the industry.
Underlying macroeconomic factors: The cereal market in the United Kingdom is influenced by a variety of macroeconomic factors, including changes in consumer preferences, technological advancements, and global trade policies. Additionally, the COVID-19 pandemic has had an impact on the industry, with many consumers turning to cereal products as a convenient and affordable breakfast option during lockdown periods. However, the pandemic has also disrupted supply chains and caused fluctuations in commodity prices, which has affected the production and pricing of cereal products.
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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