2014-04-29 10:01:01 - Market Focus: Trends and Developments in the Bakery and Cereals Sector in Japan - a new market research report on companiesandmarkets.com
This report provides a concise overview of the Bakery and Cereals market in Japan. After reading this report, you will understand the size of the market, the economic, demographic, and behavioural trends that will drive its evolution, and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
This overview of the consumer and market dynamics of the Japanese Bakery and Cereals sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
Consumption frequency and product selection within the Bakery and Cereals sector in
Japan is critically linked to factors such as age-specific needs, lifestyle needs, and consumer taste and preferences. Japans changing demographics and busy lives make it imperative for the marketers to fulfill the specific nutritional needs and consumption habits, or to match the food habits and lifestyles of the consumer group. Japans older consumers, aged 60 or over, made up just over a quarter of Japans population; by 2017 theyll make up over a third. Marketers face a challenge meeting the nutritional needs and consumption habits of older consumers.
What are the key drivers behind recent market changes?
Women constitute 42% of Japans workforce. Working women with a busy work schedule favour easy-to-eat and protein enriched food such as Breakfast Cereals, Energy Bars, Cereal Bars to save time. New product development is targeting women and addressing health concerns to overcome the challenging market environment with intense price competition among manufacturers and highly consolidated retailers.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the Japanese Bakery and Cereals sector. This allows for the rapid identification of key growth opportunities across 11 Bakery and Cereal categories and their packaging.
Key Features and Benefits
Analysis of consumer behaviour, economic conditions, and demography reveals emerging opportunities in the Bakery and Cereals sector.
Key growth categories are highlighted by analysing the market dynamics of 11 Bakery and Cereal categories.
Market shares are provided for the leading brands and private label across Bakery and Cereals categories.
An overview of packaging trends in the Japanese Bakery and Cereals sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key Market Issues
Japanese consumers prefer to purchase staple goods such as Bread and Rolls and Breakfast Cereals from Convenience Stores and Hypermarkets and Supermarkets. However, elderly consumers prefer to shop at local Convenience stores, providing an opportunity for this channel as the population ages. Working women, the other large consumer group, are time-poor, and therefore tend to frequent large shopping malls less often. The purchase frequency of Food and Grocery products will grow fastest in Convenience stores.
Though Japanese consumers enjoy traditional food, their busy lives and an increasing number of single person households have contributed to demand for quick and easy meals that are purchased either at retail outlets or eaten at fast food chains offering traditional or western fast food.
The value of Breakfast Cereals is growing quickly in Japan, at a projected CAGR of 3.5% during 2007-2017, as a result of a combination of demand for a healthier breakfast, the influence of US culture, and the marketing power of large manufacturers.
Japan is one of the fastest aging nations among developed countries. Consumers above the age of 65 accounted for 24% of the population in 2012, while children aged 14 and under made up only 13% of the population. Marketers face the choice of targeting Japans growing older population, and their specific nutritional needs and consumption habits, or attempting to appeal to younger consumers.
Bread and Rolls accounted for 40% of the total packaging materials used in Japans Bakery and Cereals sector in 2012, driving significant demand for Flexible Packaging Bags/Sachets with Plastic Tie closures.
Japans GDP growth faltered following the triple catastrophe of earthquake, tsunami, and nuclear accident in 2011, and economic turmoil in 2012 in Europe. However, under the new economic policy of the incumbent government, the economy grew fastest among the G7 countries during Q1 2013. Higher consumption expenditure is expected to boost CPG sales including Bakery and Cereals.
Japanese consumers propensity towards cost cutting and preference for budget products means the private label market in the country is thriving. Private Label penetration varies depending on the product category in the Bakery and Cereals sector: Private Labels presence is low in categories such as Breakfast Cereals and high in the Bread and Rolls category.
Breakfast Cereals will record the fastest growth rates in Japans Bakery and Cereals sector. The higher growth of the Breakfast Cereal categories represents the growth of new staple foods in Japanese cuisine, driven by the demand for quick, convenient meals and the influence of "western" culture among key consumer groups.
Japans focus on reducing CO2 emissions makes it imperative for manufacturers to consider the carbon footprint of their packaging. As one of largest consumer packaged food sectors, Bakery and Cereals will play an important role in determining packaging trends. Demand for Flexible Plastic packaging will maintain its lead as the most commonly used packaging material between 2012 and 2017.
The demand for Morning Goods will decline due to high prices while baking Mixes demand will be weak as busy consumers will increasingly seek out ready-made cakes and pastries. Morning Goods and Baking Mixes will record the lowest growth rates within the Bakeryand Cereals sector between 2012 and 2017.
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