Market Research Report
Top Growth Opportunities: Bakery & Cereals in Australia
|Published by||GlobalData||Product code||550316|
|Published||Content info||115 Pages
Delivery time: 1-2 business days
|Top Growth Opportunities: Bakery & Cereals in Australia|
|Published: August 24, 2017||Content info: 115 Pages||
Australia was the fifth largest Bakery & Cereals market in value terms, in 2016. The Australian Bakery & Cereals market is stable and growing steadily, recording a CAGR of 3.3% in Australian dollar value terms between 2011 and 2016. With GDP set to increase in 2017, growth indicators for the Australian economy are positive. Prime Minister Turnbull's anti-austerity measures seek to take advantage of low interest rates and boost consumer spending.
The Australian Bakery & Cereals market saw a small decline in US$ between 2011 and 2016, due to the depreciation of the Australian Dollar. However, the growth is forecast to change to positive in the next five years between 2016 and 2021.
Australia ranks among the biggest markets in the global Bakery & Cereals sector in terms of per capita consumption, concretely third in 2016, and expected to become the second largest by 2021. With increasing busy lifestyles, time-pressed consumers are spending most of their time out of home and therefore seek food products that can be carried and consumed on-the-go. Consequently, the market is forecast to register faster growth during 2016-2021 when compared to 2011-2016.
Domestic Bakery & Cereals brands in Australia have outperformed international ones.In 2016, Australia ranked third among the top 10 Bakery & Cereals markets in terms of per capita expenditure (in US dollar terms), smaller than Chile and the US. The per capita expenditure on bakery and cereal products is expected to grow at a slow CAGR of 2.7% during 2016-2021; supported by a growing economy coupled with rising disposable income, and a large working population is driving the demand for Bakery & Cereals in the country.
Furthermore, the rising demand for high quality bakery and cereal products with Health & Wellness attributes and consumers' willingness to spend more on organic bakery and cereal products are also driving the growth.
Top Growth Opportunities for Bakery & Cereals in Australia identifies the key demographic groups driving consumption, and what motivates their consumption. When combined with an in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. The report also identifies the most important trends within the market and shows whether beliefs over what influences consumer behavior within the category are accurate.
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Companies analyzed within this report includes Campbells Soup Company, Goodman Fielder, Associated British Foods, The Kellogg Company, Cereal Partners Worldwide, Mondelez International, Woolworths, ALDI, Coles Supermarkets, 7-Eleven, FoodWorks, Friendly Grocer
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