Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Canada's Food Market is experiencing minimal growth, impacted by factors such as shifting consumer preferences towards healthier options and increased competition from alternative grains. This has resulted in a slow but steady growth rate for the Bread & Cereal Products Market, driven by the convenience and variety offered by online services.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for alternative and healthier grains, leading to an increase in popularity of rice-based products in Canada. This trend is further fuelled by the rise of gluten-free and plant-based diets, as well as a growing interest in Asian cuisine. Additionally, with the growing multicultural population in Canada, there has been a greater demand for a diverse range of rice varieties, catering to different cultural preferences and cooking methods.
Trends in the market: In Canada, the Rice Market within the Bread & Cereal Products Market is experiencing a rise in demand for healthier and more sustainable options. This trend is driven by consumers' increasing awareness of the health benefits of rice, such as being gluten-free and low in calories. Additionally, there is a growing interest in ethnic cuisines, leading to a demand for specialty rice varieties. These trends are significant for industry stakeholders as it presents opportunities for product diversification and marketing strategies. However, it may also pose challenges in terms of sourcing and pricing for smaller players in the market.
Local special circumstances: In Canada, the Rice Market of the Bread & Cereal Products Market within The Food market is influenced by the country's strict regulations on food imports and exports. This has created a demand for locally grown and processed rice, leading to the emergence of small-scale rice farmers and producers. Additionally, Canada's diverse cultural landscape has also shaped the market, with a growing demand for specialty rice varieties, such as basmati and jasmine, to cater to different ethnic cuisines. This has resulted in a highly competitive and dynamic rice market in Canada, with a strong focus on quality and sustainability.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Canada is influenced by macroeconomic factors such as trade policies, consumer preferences, and government subsidies. With the recent rise in global trade tensions, the Canadian rice market has faced challenges in accessing international markets, leading to a decline in exports. On the other hand, the growing trend of health-conscious consumers has increased the demand for organic and specialty rice products, driving the growth of the domestic market. The Canadian government's support through subsidies and grants for farmers has also played a crucial role in boosting the production and quality of rice, further contributing to the market's growth.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
