Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Israel has seen slow growth due to factors such as low consumer awareness, limited technology adoption, and lack of convenience in online services. The market's negligible growth is impacted by these challenges.
Customer preferences: As the Israeli population becomes more health-conscious, there has been a growing demand for gluten-free and organic rice products. This trend is driven by a rise in health-conscious consumers looking for healthier alternatives to traditional rice products. Moreover, there has been an increase in demand for convenient and ready-to-eat rice options, catering to busy lifestyles and the growing popularity of meal prepping. Additionally, with a significant rise in vegetarian and vegan diets, there is a growing demand for plant-based rice products in the market.
Trends in the market: In Israel, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for gluten-free and organic rice products. This trend is driven by growing health consciousness among consumers and an increasing number of people with gluten intolerance. As a result, there has been a surge in the availability of specialty rice products, such as brown rice and wild rice, in supermarkets and health food stores. This trend is expected to continue, as consumers are increasingly seeking out healthier and more sustainable options in their food choices. Furthermore, the rise in specialty rice products presents opportunities for industry stakeholders to capitalize on this growing trend and cater to the evolving preferences of their customers.
Local special circumstances: In Israel, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique cultural and religious factors. As a predominantly Jewish nation, kosher certification is a major factor in the production and consumption of rice products. Additionally, Israel's climate and limited water resources have led to innovation in rice production, such as the use of advanced irrigation methods. These factors contribute to the distinct dynamics of the Rice Market in Israel compared to other markets.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market is greatly impacted by macroeconomic factors in Israel. The country's strong economic health and stable fiscal policies have contributed to a growing demand for rice products. Additionally, Israel's strategic location and trade agreements with neighboring countries have opened up export opportunities for its rice market. However, fluctuations in global rice prices and changes in consumer preferences towards healthier food options can affect market performance. Government initiatives to promote local rice production and support for sustainable farming practices also play a significant role in shaping the market in Israel.
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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