Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Egypt is facing subdued growth, influenced by factors such as fluctuating consumer demand, increase in imports, and limited domestic production. Despite these challenges, The Food market in Egypt continues to witness steady growth, driven by factors such as rising population and changing dietary preferences. The Bread & Cereal Products Market is a significant contributor to this growth, with increasing adoption of digital technologies and growing health consciousness among consumers driving its expansion.
Customer preferences: The rice market in Egypt has experienced a significant increase in demand for organic and sustainably sourced rice, as consumers become more health-conscious and environmentally aware. This trend is driven by a growing preference for natural and wholesome food products, as well as a desire to support local farmers and reduce the carbon footprint of food production. Additionally, with the rise of social media and influencer culture, there is a growing interest in exotic and international rice varieties, as consumers seek new and unique culinary experiences.
Trends in the market: In Egypt, the Rice Market within the Bread & Cereal Products Market is experiencing a growing demand for organic and gluten-free rice options. This trend is driven by an increasing health consciousness among consumers and a growing interest in sustainable and ethical food choices. As a result, industry stakeholders are investing in innovation and expanding their product portfolios to cater to this demand. This trend is expected to continue, with potential implications for market players such as increased competition and the need for more sustainable sourcing practices.
Local special circumstances: In Egypt, the Rice market is heavily influenced by the country's climate and geography. Egypt's fertile Nile Delta region is ideal for growing rice, and the country has a long history of rice production. This has led to a strong domestic market for rice, with high demand and competitive pricing. Additionally, the Egyptian government has implemented policies to support rice production, such as subsidies for farmers and export restrictions, which can impact market dynamics. Cultural factors also play a role, as rice is a staple food in Egyptian cuisine, leading to a consistent demand for rice products.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Egypt is significantly impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The growth of the market is closely tied to the overall economic health of Egypt, with stable economic conditions and favorable government policies leading to increased demand for rice products. Additionally, the increasing population and rising disposable income levels in Egypt have also contributed to the growth of the rice market. Moreover, with the growing trend of health consciousness and the shift towards healthier eating habits, there has been a growing demand for rice products as a healthier alternative to other grains, further driving the market 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.
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