Market Insights Consumer Food Bread & Cereal Products

Bread - Armenia

Armenia

Revenue in the Bread market amounts to €0.45bn in 2024. The market is expected to grow annually by 8.92% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€73bn in 2024).
In relation to total population figures, per person revenues of €163.20 are generated in 2024.
In the Bread market, volume is expected to amount to 315.70m kg by 2029. The Bread market is expected to show a volume growth of 7.2% in 2025.
The average volume per person in the Bread market is expected to amount to 90.2kg in 2024.

Key regions: India, United States, Japan, United Kingdom, China

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Analyst Opinion

The Bread Market in Armenia is facing subdued growth due to factors such as low consumer health awareness and limited availability of digital technologies. Despite this, the market is expected to experience growth due to the convenience of online bread services and increasing demand for bread products.

Customer preferences: With rising health consciousness and a growing trend towards plant-based diets, consumers in Armenia are increasingly seeking out gluten-free and organic options in the Bread Market. This trend is driven by a desire for healthier and more sustainable choices, as well as a growing awareness of food allergies and sensitivities. As a result, there has been a surge in demand for alternative grains such as quinoa and amaranth, as well as a rise in popularity of artisanal and locally sourced breads. This shift towards healthier and more diverse bread options is expected to continue in the coming years.

Trends in the market: In Armenia, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier and more diverse options. There is a growing demand for whole grain and gluten-free breads, as well as traditional Armenian flatbreads. This trend is driven by increasing health consciousness among consumers and a desire for variety in their bread choices. As a result, industry stakeholders are investing in research and development to meet these demands, and there is potential for new market entrants to cater to niche segments.

Local special circumstances: In Armenia, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and agricultural traditions. The local climate and fertile land allow for the cultivation of high-quality wheat, resulting in a strong bread-making tradition. Additionally, cultural preferences for fresh, locally-made bread and government regulations promoting the use of local ingredients have further shaped the bread market in Armenia. These factors contribute to a unique market dynamic, with a strong emphasis on locally-sourced and traditional bread products.

Underlying macroeconomic factors: The Bread Market in Armenia is heavily affected by macroeconomic factors such as the country's overall economic health, global economic trends, fiscal policies, and other relevant financial indicators. The Armenian economy has been experiencing stable growth, with a strong focus on agriculture and food production. However, the country's dependence on foreign trade and investment makes it vulnerable to external factors such as changes in global demand and fluctuations in currency exchange rates. Additionally, government policies and regulations, including import and export regulations, can also impact the performance of the Bread Market in Armenia.

Methodology

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.