Key regions: Spain, China, Canada, India, South Korea
The Bread & Cereal Products market in Portugal has seen minimal growth, impacted by factors such as shifting consumer preferences and stagnant economic conditions. Despite this, the market remains strong due to the convenience and variety of online options.
Customer preferences: The demand for organic and environmentally-friendly rice products is on the rise in Portugal. This can be attributed to the growing awareness of the impact of food production on the environment and the desire for healthier options. Additionally, there is a growing trend of incorporating rice-based dishes from different cultures into traditional Portuguese cuisine, reflecting the country's diverse demographic and evolving culinary preferences. This has led to an increase in the availability and variety of rice-based products in the market.
Trends in the market: In Portugal, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, with an increasing demand for organic and whole grain rice. This trend is driven by a growing health consciousness among consumers, as well as government initiatives promoting healthy eating. As a result, rice producers and retailers are expanding their product offerings to cater to this demand. Additionally, there is a rise in online sales of rice products, reflecting a broader trend towards e-commerce in the food industry. These developments present opportunities for industry stakeholders to tap into new markets and diversify their product portfolio.
Local special circumstances: In Portugal, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's rich history and culture. Rice has been a staple in Portuguese cuisine for centuries, and as a result, the market is dominated by traditional rice varieties such as arroz carolino and arroz agulha. Additionally, Portuguese consumers have a strong preference for organic and locally sourced products, which has led to a rise in demand for organic rice. The country's strict food safety regulations also play a significant role in shaping the market, ensuring high quality and safe rice products for consumers.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Portugal is influenced by various macroeconomic factors. These include global economic trends, national economic health, fiscal policies, and other financial indicators that impact market performance. For instance, the growing trend of healthy eating and the increasing popularity of vegetarian and vegan diets have led to a rise in demand for rice as a staple food in Portugal. Additionally, the country's stable economic growth and favorable regulatory environment have created a conducive market for rice producers and suppliers. Furthermore, with the rising awareness about the health benefits of rice, the market is expected to grow further in the coming years.
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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