Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Central & Western Europe is experiencing negligible growth due to various factors such as stagnant consumer demand, fluctuations in prices, and competition from alternative grains. Despite this, rising health awareness and convenience of online services are expected to drive growth in the future.
Customer preferences: Consumers in Central & Western Europe are increasingly opting for healthier and more sustainable food options, leading to a growing demand for organic and gluten-free rice products. This trend is also being driven by the rising awareness of the benefits of a plant-based diet and the growing vegan and vegetarian population in the region. In addition, with the increasing focus on environmentally-friendly practices, there is a growing preference for locally-sourced and sustainably-produced rice, highlighting the shift towards conscious consumerism in the Rice Market of the Bread & Cereal Products Market within The Food market.
Trends in the market: In Central & Western Europe, the Rice Market within the Bread & Cereal Products Market is experiencing a shift towards healthier and more sustainable options. This is driven by consumer demand for organic and gluten-free rice products, as well as a growing interest in alternative grains such as quinoa and millet. This trend has significant implications for industry stakeholders, as they must adapt their production and marketing strategies to cater to these changing preferences. Additionally, there is a rising awareness of the environmental impact of rice production, leading to the development of more sustainable farming practices. This presents opportunities for companies to differentiate themselves in the market by promoting their eco-friendly initiatives. Overall, the trajectory of these trends suggests a continued focus on health and sustainability in the Rice Market, with potential for further growth and innovation.
Local special circumstances: In Western Europe, rice is a staple in many countries and is often imported from other regions such as Asia and Africa. This is due to the region's cooler climate and lack of suitable land for rice cultivation. However, some countries, such as Italy and Spain, have a significant domestic rice production industry. This is driven by the local preference for short-grain rice in dishes such as paella and risotto. Additionally, strict European Union regulations on pesticide use and food safety standards have influenced the supply chain and production practices in the region.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market is heavily impacted by macroeconomic factors in Central & Western Europe. The region's economic health, as well as global economic trends and fiscal policies, greatly influence the demand for rice products. Countries with stable economies and favorable regulatory environments tend to have higher demand for rice, as consumers have more disposable income to spend on food. Additionally, the aging population in the region is driving the demand for healthier food options, including rice products, which are perceived as a healthier alternative to wheat-based products. Moreover, the increasing popularity of plant-based and gluten-free diets is also contributing to the growth of the rice market in Central & Western Europe.
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.
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