Key regions: Spain, China, Canada, India, South Korea
The market for rice in the Bread & Cereal Products sector of Kenya's Food Market is experiencing subdued growth due to factors such as limited access to technology, low health awareness, and traditional preferences for purchasing rice. These challenges have hindered the growth rate of the market.
Customer preferences: With the increasing health-consciousness among consumers in Kenya, there has been a notable shift towards consuming whole grain rice and other nutrient-rich rice varieties. This trend is driven by the growing awareness of the health benefits of these rice varieties and the cultural preference for natural and whole foods. Additionally, the rising number of health-conscious millennials and the growing middle-class population have also contributed to the demand for healthier rice options in the country.
Trends in the market: In Kenya, the Rice Market within the Bread & Cereal Products Market is experiencing a shift towards healthier options, driven by increasing health consciousness and changing dietary preferences. This trend is expected to continue, with consumers seeking out rice varieties that offer nutritional benefits. Additionally, the rise of e-commerce and digitalization has made it easier for consumers to access a wider variety of rice products and compare prices, leading to increased competition among producers. This trend presents opportunities for industry stakeholders to diversify their product offerings and tap into the growing demand for healthier rice options. However, it also poses challenges for traditional rice farmers who may struggle to keep up with the changing market dynamics.
Local special circumstances: In Kenya, the Rice Market has been heavily influenced by the country's geographical location and climate. Being located near the equator, Kenya has a favorable climate for rice cultivation, making it one of the top producers in the region. Additionally, the country's diverse cultural influences have led to a variety of rice dishes and preparations, catering to different tastes and preferences. Furthermore, the government's efforts to promote rice production and reduce imports have had a significant impact on the market dynamics. These factors have contributed to the growth and stability of the Rice Market in Kenya, making it a key player in the Bread & Cereal Products Market within The Food market.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Kenya is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Kenya's strong economic growth, stable political environment, and favorable trade policies have contributed to a positive market outlook for rice. Additionally, the growing population and increasing urbanization in Kenya have resulted in a higher demand for rice as a staple food, driving market growth. Moreover, government initiatives to improve agricultural productivity and reduce food insecurity have also had a significant impact on the rice market in Kenya.
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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