Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Lebanon is experiencing average growth, driven by factors such as increasing demand for bread and cereal products, rising awareness of healthy eating, and the convenience of purchasing food online. These factors are impacting the market's growth rate positively, leading to a flourishing food industry in the country.
Customer preferences: As health and wellness become more important to consumers, there has been a growing preference for healthier alternatives in the Rice Market of the Bread & Cereal Products Market. This has led to an increase in demand for organic and gluten-free rice products. Additionally, with a rise in health-consciousness, there has been a shift towards incorporating ancient grains, such as quinoa and amaranth, into rice-based dishes. These trends are driven by the growing awareness of the health benefits of these ingredients and the desire for diverse and nutrient-rich options.
Trends in the market: In Lebanon, there is a growing demand for healthier and more diverse food options, leading to an increase in the consumption of rice as a staple food. This trend is driven by a shift towards healthier lifestyles and a growing awareness of the health benefits of rice, such as its low glycemic index and gluten-free properties. Additionally, the rise of international cuisine and fusion dishes in the country has also contributed to the popularity of rice. This trend is expected to continue, presenting opportunities for rice producers and suppliers to expand their market share and offerings.
Local special circumstances: In Lebanon, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's location in the Middle East, leading to a high demand for rice in traditional Middle Eastern dishes. Additionally, cultural preferences for rice over other grains and the presence of large ethnic populations, such as Syrian and Palestinian refugees, contribute to the market's growth. The market is also subject to strict regulations and import restrictions, resulting in a limited supply and higher prices for rice products.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Lebanon is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's reliance on imports for rice, coupled with fluctuating global prices, can greatly impact the market's performance. Furthermore, the ongoing economic crisis in Lebanon, including high inflation and currency depreciation, has led to an increase in food prices, making it challenging for consumers to afford rice. The government's efforts to stabilize the economy through fiscal policies, such as subsidies and import regulations, also play a significant role in shaping the rice market in Lebanon.
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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