Top Growth Opportunities: Bakery & Cereals in Canada
Canada ranks fourth amongst the top ten Bakery & Cereals markets in terms of per capita expenditure (in US$ terms), following Chile, the US and Australia. The per capita expenditure on bakery and cereal products in US$ terms declined by 2.9% CAGR over 2011-2016. However, it is expected to grow at a CAGR of 2.8% during 2016-2021.
Canadian Bakery & Cereals market declined at a CAGR of -1.8% during 2011-2016 from US$11,643.1 Million in 2011 to US$10,625.7 Million in 2016. However, as unemployment levels will decrease, time-poor Canadians will look for food products that are easy to cook and can be carried and consumed conveniently on-the-go. Consequently, the market is forecast to register growth at a CAGR of 4.0% during 2016-2021 and is expected to be worth US$12,911.7 Million by 2021.
Bread & Rolls has been the top value category and is expected to register growth at a CAGR of 3.4% during 2016-2021, estimated to be worth US$3.9 billion by 2021. Baking Ingredients and Cakes, Pastries & Sweet Pies categories are expected to record the fastest value growth in US$ terms at a CAGR of 4.9% each over 2016-2021, and are estimated to reach US$215.3 Million and US$2.4 billion, respectively by 2021.
During 2016-2021, the Cakes, Pastries & Sweet Pies category will see a volume growth at a CAGR of 2.9% and US$ value growth at a substantial CAGR of 4.9%, which makes it the fastest growing Bakery & Cereals category. It presents a range of opportunities for manufacturers to release more indulgent options targeting consumers willing to treat themselves. While some will look for novelty, others will continue to opt for comfort cakes they already know and like.
The report Top Growth Opportunities: Bakery & Cereals in Canada provides recommended actions and detailed analysis of how to target the best growth opportunities for Bakery & Cereal producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Bakery & Cereal markets in Canada through our detailed and robust data, expert insight, and case studies.
In particular, this report provides the following -
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