Key regions: Spain, Germany, Italy, United Kingdom, United States
Cereals have been a staple food for centuries, and their popularity continues to grow worldwide. From breakfast cereals to snacks, cereals have become a part of our daily diet.
Customer preferences: Consumers are increasingly becoming health-conscious, and this has led to a shift in preferences towards healthier cereals. There is a growing demand for whole grain, organic, and gluten-free cereals. Additionally, there is a trend towards convenient and on-the-go breakfast options, leading to an increase in sales of cereal bars and single-serve cereal packs.
Trends in the market: In the United States, the cereal market has been declining due to changing breakfast habits and increased competition from other breakfast options. However, there has been an increase in demand for organic and non-GMO cereals. In Europe, the demand for healthier cereals has also been on the rise, with a focus on low-sugar and high-fiber options. In Asia, the cereal market is still in its nascent stages, but there has been a growing demand for breakfast cereals due to urbanization and changing lifestyles.
Local special circumstances: In India, traditional breakfast options such as idli and dosa are still preferred over cereals. However, with the rise of the middle class and changing lifestyles, there has been a growing demand for breakfast cereals. In Australia, the cereal market has been dominated by two major players, and there has been little room for new entrants. However, there has been a trend towards healthier options, leading to an increase in sales of organic and gluten-free cereals.
Underlying macroeconomic factors: The global cereal market is heavily dependent on weather conditions, as crop yields are affected by natural disasters such as droughts and floods. Additionally, the prices of cereals are influenced by government policies, trade agreements, and currency fluctuations. The increasing demand for healthier options has led to an increase in production costs, which may lead to higher prices for consumers. However, technological advancements in farming and production may help to mitigate these costs in the long run.
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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