Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Guatemala is experiencing minimal growth due to factors such as low consumer awareness, limited access to digital technologies, and lack of convenience in online services. Despite the slow growth rate, the market is expected to pick up pace as the country's economy continues to improve.
Customer preferences: As the Guatemalan population becomes more health conscious, there has been a noticeable increase in demand for organic and gluten-free rice products. This trend is also influenced by the growing awareness of food allergies and the desire for healthier options. Additionally, the rise in urbanization and busy lifestyles has led to a higher demand for convenience foods, such as pre-packaged rice meals and instant rice. This shift towards healthier and more convenient options highlights a growing preference for a balanced and on-the-go lifestyle among Guatemalan consumers.
Trends in the market: In Guatemala, there is a growing trend of incorporating rice into traditional dishes, leading to an increase in demand for rice in the country's Bread & Cereal Products Market. This trend is driven by the rising popularity of rice-based diets and the health benefits associated with rice consumption. As a result, local farmers are focusing on increasing their rice production to meet the growing demand. This trend is expected to continue, with potential implications for industry stakeholders such as rice farmers, processors, and retailers. It may also lead to a shift in consumer preferences towards rice-based products, creating opportunities for new market entrants in the Rice Market of the Bread & Cereal Products Market within The Food market.
Local special circumstances: In Guatemala, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geography and cultural preferences. Being a primarily agricultural country, rice is a staple food in Guatemalan cuisine and is consumed in various forms. The market is also influenced by the country's regulatory policies, with government subsidies keeping the price of rice relatively low. Additionally, the demand for organic and locally-grown rice is on the rise, catering to the growing health-conscious population in the country.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Guatemala is influenced by several macroeconomic factors. One of the key drivers is the country's strong economic growth and stability, which has resulted in increased consumer spending and demand for food products. Additionally, favorable government policies and investments in the agriculture sector have boosted the production and export of rice, leading to a competitive market. Furthermore, Guatemala's location in Central America allows for easy access to international markets, providing opportunities for expansion and growth. However, challenges such as climate change, fluctuating global commodity prices, and political instability can also impact the performance of the rice market in Guatemala.
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)
