Key regions: Spain, China, Canada, India, South Korea
The Rice Market within New Zealand's Bread & Cereal Products Market is experiencing negligible growth due to factors such as limited consumer demand, fluctuating prices, and competition from other grains. Despite this, the convenience and health benefits of rice continue to drive its adoption in The Food market.
Customer preferences: The demand for organic and locally sourced rice is on the rise in New Zealand, as consumers become more health-conscious and environmentally aware. This trend is driven by cultural values and a desire for sustainable food options. Additionally, there is a growing interest in different rice varieties, such as black and red rice, as consumers seek to diversify their diets and explore new flavors. This shift towards more conscious consumption is also reflected in the increasing popularity of rice-based alternatives to traditional wheat and grain products.
Trends in the market: In New Zealand, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a growing demand for organic, gluten-free, and fortified rice products. This trend is driven by consumers' increasing focus on health and wellness, as well as growing concerns about food safety and sustainability. Additionally, the rise of e-commerce and the convenience of online shopping have also contributed to the growth of the rice market. These trends are expected to continue, presenting new opportunities for industry stakeholders to innovate and expand their product offerings to meet evolving consumer preferences.
Local special circumstances: In New Zealand, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique geographical location. Being an island nation, New Zealand heavily relies on imported rice, making it susceptible to global rice market fluctuations. Additionally, the country's strong cultural ties to Asian cuisine have led to a high demand for specialty rice varieties. The local regulatory environment also plays a significant role, with strict food safety regulations and labeling requirements shaping the market dynamics.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in New Zealand is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The demand for rice is largely dependent on the overall economic conditions of the country, as it is considered a staple food in many households. Moreover, fluctuations in global rice prices and trade policies also impact market performance. Additionally, government initiatives to promote domestic rice production and support sustainable farming practices are playing a significant role in shaping the market. Furthermore, the growing health consciousness among consumers and the increasing trend of incorporating rice in gluten-free and healthy diets are also influencing market growth.
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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