Market Insights Consumer Food Bread & Cereal Products

Other Cereal Products - Armenia

Armenia

Revenue in the Other Cereal Products market amounts to €183.40m in 2024. The market is expected to grow annually by 8.24% (CAGR 2024-2029).
In global comparison, most revenue is generated in Egypt (€13,880m in 2024).
In relation to total population figures, per person revenues of €66.02 are generated in 2024.
In the Other Cereal Products market, volume is expected to amount to 99.19m kg by 2029. The Other Cereal Products market is expected to show a volume growth of 6.3% in 2025.
The average volume per person in the Other Cereal Products market is expected to amount to 28.9kg in 2024.

Key regions: Canada, Spain, South Korea, United States, Japan

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Analyst Opinion

The Other Cereal Products Market within the Bread & Cereal Products Market in Armenia is experiencing minimal growth, influenced by factors like low consumer health awareness and limited online availability of health services.

Customer preferences: The growing health consciousness among consumers is driving the demand for alternative cereal products like quinoa, amaranth, and buckwheat. These grains are seen as healthier and more nutritious alternatives to traditional wheat-based products. This trend is further fueled by the increasing prevalence of gluten intolerance and other dietary restrictions, as well as the growing interest in plant-based diets. As a result, companies are expanding their product offerings to cater to this emerging market segment.

Trends in the market: In Armenia, the Other Cereal Products Market within the Bread & Cereal Products Market is experiencing a shift towards healthier and more diverse options. This trend is driven by increasing consumer awareness of the importance of a balanced diet and the demand for gluten-free and organic products. As a result, industry stakeholders are investing in research and development to meet these changing preferences. Additionally, there is a growing trend of using e-commerce platforms for purchasing cereal products, providing convenience and accessibility for consumers. These developments are expected to continue, presenting opportunities for growth and innovation in the market.

Local special circumstances: In Armenia, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is largely influenced by the country's traditional diet, which includes a variety of grain-based dishes. Additionally, the government's efforts to promote local agriculture have led to a strong demand for locally produced cereals, creating a competitive advantage for domestic producers. However, the lack of modern infrastructure and technological advancements in the food industry pose challenges for market growth, particularly in terms of distribution and export opportunities.

Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market in Armenia is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability and growth potential greatly impact the purchasing power of consumers and their demand for cereal products. Additionally, changes in government policies and regulations, as well as fluctuations in exchange rates, can affect the production and distribution costs of cereal products, ultimately impacting market performance. Moreover, the growing health consciousness among consumers and the trend towards healthy eating habits have also led to an increased demand for alternative cereal products, further driving market growth.

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.