Key regions: Spain, China, Canada, India, South Korea
The Rice Market in China's Food Market is experiencing subdued growth due to factors such as low rice consumption, increasing preference for other grains, and changing dietary patterns. Despite the convenience offered by online platforms, the market's growth rate remains slow.
Customer preferences: As China's population becomes more health-conscious, there has been a rising demand for healthier bread and cereal products, leading to an increase in the consumption of rice-based options. This trend is driven by a growing awareness of the benefits of whole grains and a preference for traditional Chinese staples. Additionally, with the rise in disposable incomes and busier lifestyles, convenience and ease of preparation have become important factors in consumer choices, driving the popularity of ready-to-eat rice products.
Trends in the market: In China, the Rice Market within the Bread & Cereal Products Market of The Food market is experiencing a surge in demand for organic and locally-sourced rice. This trend is driven by increasing health-consciousness among consumers and a desire for sustainable sourcing. Additionally, there has been a rise in e-commerce platforms offering specialty rice varieties, giving consumers more options and convenience. This trend is expected to continue, with potential implications for industry stakeholders, including the need to adapt to changing consumer preferences and invest in sustainable sourcing practices.
Local special circumstances: In China, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's culture and history of rice consumption. Rice is a staple food in Chinese cuisine and is deeply ingrained in the country's culinary traditions. Additionally, the government heavily regulates the production and distribution of rice, leading to a highly competitive market with strict quality control measures. Furthermore, the large population and growing middle class in China have resulted in a high demand for convenient and affordable rice products, driving market growth.
Underlying macroeconomic factors: The performance of the Rice Market within the Bread & Cereal Products Market is heavily impacted by macroeconomic factors in China. With the country's rapidly growing economy and increasing disposable income, there is a rising demand for high-quality and diverse food products such as rice. Additionally, favorable government policies and investments in agriculture and food production have contributed to the growth of the rice market. However, challenges such as fluctuating commodity prices, trade tensions, and environmental concerns also affect market performance. Moreover, the shift towards healthier food choices and the growing popularity of rice-based diets in other countries are also expected to drive the demand for Chinese rice exports.
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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