Key regions: Spain, China, Canada, India, South Korea
The rice market in Thailand has seen minimal growth due to various factors such as low consumer awareness, limited adoption of digital technologies, and lack of convenience in online services. However, efforts are being made to improve the market's growth rate.
Customer preferences: As health and wellness trends continue to gain popularity in Thailand, consumers are increasingly seeking healthier options in the Rice Market of the Bread & Cereal Products Market. This has led to a rise in demand for organic and gluten-free rice products, as well as a growing interest in alternative grains like quinoa and amaranth. Additionally, with the rising awareness of sustainable and ethical consumption, there is a growing preference for locally-sourced and eco-friendly rice options.
Trends in the market: In Thailand, the Rice Market within the Bread & Cereal Products Market is experiencing a trend towards healthier options, with a growing demand for organic and whole-grain rice. This trend is driven by increasing health consciousness among consumers and government initiatives promoting sustainable agriculture. As a result, industry stakeholders are investing in new product development and sustainable farming practices to meet this demand. Additionally, the rise of e-commerce has made it easier for consumers to access a wider variety of rice products, further driving the growth of this market. These trends are expected to continue in the future, presenting opportunities for expansion and innovation in the industry.
Local special circumstances: In Thailand, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geography and cultural preferences. As a major producer and exporter of rice, Thailand's market dynamics are linked to global demand and supply. Additionally, the country's strong Buddhist beliefs have led to a high consumption of rice as a staple food. Furthermore, the government's policies and subsidies for rice production and exports have a significant impact on the market. The unique combination of these factors creates a distinct market environment for rice in Thailand, making it a key player in the global rice trade.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Thailand is greatly impacted by macroeconomic factors at both the global and national level. The global demand for rice, as a staple food, has a significant influence on the market. Economic trends such as increasing urbanization, changing dietary patterns, and growing population also play a role in shaping the market. Moreover, government policies, trade agreements, and investments in agricultural infrastructure and technology greatly affect the production and distribution of rice in Thailand. Additionally, the country's economic health, including factors like inflation, interest rates, and GDP growth, can impact consumer spending and ultimately, the demand for rice and other cereal products.
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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