As
Australia’s population becomes increasingly health conscious, its Bakery &
Cereals sector is becoming increasingly driven by both the supply and demand of
products that play into the consumer preference for a healthy diet, according
to leading consumer specialist Canadean’s new report: Market Focus: Trends and
Developments in the Bakery & Cereals Sector in Australia.
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Australia’s
Bakery & Cereals sector is being driven by the country’s increasingly
health conscious population, with increased public awareness of healthy diets
and nutrition evident in consumers’ increasing trend to differentiate staple
lines with low fat bakery products and functional white bread. Breakfast
Cereals are, consequently, the fastest growing category within the sector,
whilst obesity concerns and sugar consciousness is seeing Biscuits growing at a
slower pace than the general market
The
Australian Bureau of Statistics has recorded a 35% increase in average weekly
expenditure on Break, cakes and cereals between 1998-1999 and 2009-2010. This
trend is set to continue, with Canadean forecasting that the sector as a whole
will increase in value at a CAGR of 1.3% between 2012 and 2017, compared to a
CAGR of 0.7% for retail Food overall.
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That
rising number of overweight and obese Australians means that consumers are
increasingly evaluating their diets, which is creating opportunities for low
fat, low calorie, and low cholesterol products, and those offering functional
benefits such as high fiber, gluten free, or fortified with minerals and
vitamins.
An example
of such products is ‘Super Lupin’: a
breakfast cereal that is gluten free, high in dietary fiber, contains no
cholesterol, and is low GI. The product aims to reduce obesity and the risk of
type II diabetes, lower blood cholesterol, improve bowel health and lower
hypertension. This health concerns are particularly prevalent among older
consumers – a group that is growing, with more than 25% of Australia’s
population now aged 55 or more.
Despite
this trend however, Canadean suggests that whilst marketers should target
health-conscious consumers, they should be wary of overstating the interest in
the health trend.
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The Report Provides:
- Analysis of consumer behaviour,
economic conditions, and demography, which reveals emerging opportunities in
the Bakery & Cereals sector.
- Analysis of market dynamics for
11 Bakery & Cereal categories, which highlights key growth categories.
- Market shares for the leading
brands and private label across Bakery & Cereals categories.
- An overview of packaging trends
in the Australian Bakery & Cereals sector, including primary packaging
material and type, packaging closures, and outer packaging.
For
more details contact Mr. Priyank Tiwari: sales@rnrmarketresearch.com / +18883915441
Website:
http://www.rnrmarketresearch.com