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.
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.
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.
Comprehensive Table of Contents and more on the report @ http://www.rnrmarketresearch.com/market-focus-trends-and-developments-in-the-bakery-and-cereals-sector-in-australia-market-report.html
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.
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.
Comprehensive Table of Contents and more on the report @ http://www.rnrmarketresearch.com/market-focus-trends-and-developments-in-the-bakery-and-cereals-sector-in-australia-market-report.html