Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Europe is facing minimal growth due to factors like changing consumer preferences, fluctuating prices, and competition from other staple grains. Despite this, the market is expected to see steady growth driven by the increasing demand for convenient and healthy food options.
Customer preferences: The demand for gluten-free and organic rice products has witnessed a significant uptick in Europe, driven by health-conscious consumers and the increasing prevalence of celiac disease. This has led to the emergence of new market players offering innovative and diverse rice-based products to cater to the growing demand. Additionally, the rise of veganism and flexitarianism has also spurred the demand for plant-based rice alternatives, such as rice milk and rice-based protein products.
Trends in the market: In Europe, the Rice Market of the Bread & Cereal Products Market within The Food market is seeing a rise in demand for gluten-free and organic rice products. This trend is driven by the increasing awareness of health concerns related to gluten consumption and the growing preference for natural, sustainable food choices. As a result, rice producers are expanding their product lines to cater to these specific consumer needs. This shift towards healthier and more sustainable options is expected to continue and potentially lead to changes in industry dynamics and consumer preferences in the long term.
Local special circumstances: In Europe, the Rice Market of the Bread & Cereal Products Market within The Food market is influenced by the region's diverse culinary traditions and preferences. For example, in Italy, rice is a staple food in dishes like risotto and arancini, while in Spain, it is a key ingredient in paella. Additionally, the European Union's strict regulations on food safety and labeling have a significant impact on the production and marketing of rice products in the region. These factors contribute to the unique dynamics of the Rice Market in Europe, setting it apart from other markets.
Underlying macroeconomic factors: The growth of the Rice Market in the Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as changing consumer preferences, government policies, and global trade dynamics. Countries with stable economic conditions and favorable trade agreements are experiencing higher demand for rice products, while regions with economic instability and trade barriers are facing challenges in the rice market. Additionally, increasing health consciousness and the growing popularity of gluten-free diets are driving the demand for rice-based products, leading to 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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