Global Cereal Production Industry
The global cereal crops market (part of the agricultural product industry) exceeded $417 billion in 2010, having recorded yearly growth of close to 8% for the four-year period ending 2010. Market growth is expected to decelerate to less than 5% yearly between 2010 and 2015 to exceed $530 billion, according to MarketLine.
In terms of production volume, the industry witnessed 3.5% yearly growth between 2006 and 2010, at which point it reached over 1,870 million tons.
The cereal crop industry encompasses three categories, namely: rice, wheat and coarse grains. Coarse grains include sorghum, oats, barley and other grains.
Key Market Segments
The cereal bar market exceeded $7010 million in 2009, having recorded yearly growth of 7% between 2004 and 2010, according to Datamonitor. The market is forecast to record yearly growth in exceed of 5% for the five-year period ending 2014 to reach almost $9.1 billion. The market is expected to grow almost 5% in terms of volume to exceed 661 million kg by 2014. Granola/muesli bars represent nearly 29% of the market.
Regional Market Share
The cereal crop market in the North American Free Trade Agreement (NAFTA) countries exceeded $67 billion in 2010, according to research from MarketLine. Mexico recorded the highest rate of growth, exceeding 15% yearly growth between 2006 and 2010. The US dominates the NAFTA cereal crop market, generating more than $51 billion in 2010. The US is forecast to remain the leading region reaching almost $53.6 billion in 2015.
The G8 countries cereal crop market was worth close to $100 billion in 2010, according to MarketLine, having recorded yearly growth in excess of 10% between 2006 and 2010. The G8 cereal crop market is forecast to exceed $125.3 billion in 2015, with yearly growth of almost 5% between 2010 and 2015. The US dominates the G8 market with more than 51% share in 2010, generating more than $51 billion in revenue in 2010. The US is expected to remain the leading nation in the market, exceeding $53.6 billion in 2014.
Brazil, Russian Federation, India and China (BRIC) had a combined cereal crops market worth more than $206,000 million in 2010, reports MarketLine. Russia recorded the highest growth, exceeding a yearly rate of 24% between 2006 and 2010. China leads the BRIC countries, generating more than $128.5 billion in 2010, and is expected to reach almost $138 billion in 2015.
The EU cereal crops generated more than $87 billion in 2010, after yearly growth in excess of 12% for the four preceding years, reports MarketLine. In terms of volume, the market grew 6% yearly between 2006 and 2010 to exceed 454 million tons. Market growth is forecast to slow to 8% yearly growth between 2010 and 2015, reaching almost $128 billion.