Key Market Indicators
Icelander Cereal Products Sales are projected to decline to €74 million by 2028, down from €77 million in 2023, marking a year-on-year compound annual growth rate (CAGR) of -0.5%. The market has seen a consistent decrease since 2019, with an average annual drop of 1.2%. In 2023, Iceland ranked 33rd in cereal product sales, with Macedonia slightly ahead at €77 million. Leading the market were Germany, Italy, and the United Kingdom, occupying the second, third, and fourth positions respectively. Meanwhile, Icelander Cereal Products Production is expected to fall significantly, reaching €36 million by 2028 from €51 million in 2023. This represents an annual CAGR decline of 5%. Since 2019, the country’s production has decreased by an average of 8.3% per year. In 2023, Iceland was ranked 34th in production, with Malta surpassing it at €51 million. Germany, Italy, and the United Kingdom also led in production, securing the second, third, and fourth spots in the rankings.
