In 2023, the household expenditure on breakfast cereal in Canada was slightly higher than the forecasted value for 2024 at approximately $99.10 CAD. From 2024 onward, a subtle decline is projected, with a decrease of around 0.11% year-on-year, leading to a compound annual growth rate (CAGR) of approximately -0.12% over the 5-year period through 2028. This downward trend indicates a gradual reduction in consumer spending on breakfast cereals (excluding infant cereals).
Future trends to watch for include:
- Potential shifts in consumer preferences towards alternative breakfast options.
- The impact of health and wellness trends on cereal consumption.
- Price sensitivity and economic factors affecting consumer spending power.
- Innovation in cereal products that could rejuvenate demand.
