Key regions: Spain, China, Canada, India, South Korea
The Rice market within The Food market in Ireland has experienced minimal growth, impacted by factors such as declining demand due to health concerns and competition from other grain-based products. Despite this, convenience and health-conscious consumers continue to drive the market forward.
Customer preferences: As Irish consumers become more health-conscious, there has been a noticeable increase in demand for plant-based and gluten-free options in the Rice Market of the Bread & Cereal Products Market. This trend is influenced by a growing awareness of the health benefits of these products and a rise in vegetarian and vegan lifestyles. Additionally, there has been a shift towards locally sourced and sustainably produced rice, reflecting a growing concern for the environment among consumers.
Trends in the market: In Ireland, the Rice Market within the Bread & Cereal Products Market is experiencing a growing demand for healthier and more sustainable options. Consumers are increasingly seeking out whole grain and organic rice varieties, as well as rice alternatives such as quinoa and couscous. This trend is driven by a growing awareness of the health and environmental benefits of these products. As a result, industry stakeholders are investing in research and development to meet this demand and stay competitive. The trajectory of this trend is expected to continue, with potential implications for the market including increased competition and the need for innovative product offerings.
Local special circumstances: In Ireland, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's agricultural industry. The fertile soil and favorable climate allow for high-quality rice production, making it a major player in the market. Additionally, the strong cultural preference for rice as a staple food has further boosted its demand. Ireland's strict regulations on food safety and labeling also ensure consumer trust in the quality of rice products. These factors, combined with the increasing health consciousness among consumers, have led to a growing demand for healthier and organic rice options in the market.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Ireland is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Ireland's strong economic growth, stable political environment, and favorable trade agreements have created a conducive market for rice imports. Additionally, the country's growing focus on sustainability and healthy eating habits has led to an increased demand for whole grain rice and organic rice products. However, the uncertainty surrounding Brexit and potential changes in trade policies could impact the market's growth in the future. Furthermore, the growing trend of plant-based diets and the rising awareness of rice allergies and sensitivities could also influence the demand for rice products in Ireland.
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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