China: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in China

In 2021, the Chinese breakfast cereal market decreased by -3.8% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, posted a buoyant expansion. Breakfast cereal consumption peaked at $X in 2020, and then contracted in the following year.

Breakfast Cereal Production in China

In value terms, breakfast cereal production shrank slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29% against the previous year. Breakfast cereal production peaked at $X in 2020, and then fell in the following year.

Breakfast Cereal Exports

Exports from China

After two years of growth, overseas shipments of breakfast cereals decreased by -1.7% to X tons in 2021. In general, exports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 8.7% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, breakfast cereal exports rose rapidly to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of breakfast cereal exports from China, together comprising 45% of total exports. The United States, Thailand, Saudi Arabia, Russia, Malaysia, Australia, Canada, Indonesia, Vietnam and Myanmar lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +28.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for breakfast cereal exported from China were Hong Kong SAR ($X), Japan ($X) and South Korea ($X), together comprising 43% of total exports. These countries were followed by the United States, Malaysia, Thailand, Australia, Canada, Indonesia, Saudi Arabia, Vietnam, Russia and Myanmar, which together accounted for a further 44%.

In terms of the main countries of destination, Myanmar, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average breakfast cereal export price amounted to $X per ton, surging by 9.2% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2013 an increase of 12%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into China

For the fourth consecutive year, China recorded growth in supplies from abroad of breakfast cereals, which increased by 9.5% to X tons in 2021. Over the period under review, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 48% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, breakfast cereal imports dropped slightly to $X in 2021. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 42% against the previous year. Imports peaked at $X in 2020, and then dropped slightly in the following year.

Imports by Country

In 2021, Australia (X tons) constituted the largest breakfast cereal supplier to China, accounting for a 44% share of total imports. Moreover, breakfast cereal imports from Australia exceeded the figures recorded by the second-largest supplier, Russia (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +57.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+98.5% per year) and Japan (+60.7% per year).

In value terms, Japan ($X), South Korea ($X) and Australia ($X) were the largest breakfast cereal suppliers to China, with a combined 57% share of total imports. Taiwan (Chinese), Malaysia, the United States, Thailand, Russia, the UK, Chile and Germany lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, Russia, with a CAGR of +69.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, declining by -9.5% against the previous year. Over the period under review, the import price saw a pronounced shrinkage. The pace of growth was the most pronounced in 2017 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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