The Market value (retail sales value) of Rice based Industry in United Kingdom attained a value of USD 18.53 Millions in 2020
The Industry recorded a historical growth (CAGR) of 19% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the Industry to grow at a CAGR of ...
Retail sales value of rice industry in the UK recorded a YoY growth in 2020
The rice-based industry in the UK has recorded a significant growth over 2017-2020.
Rice products include all forms of dried rice (flavored or unflavored). The market is valued according to retail selling price (RSP) and includes any applicable taxes.
Five Forces Analysis
The agricultural products market will be analyzed taking farming practices and producers as players. The key buyers will be taken as grocery retailers and food processing companies, and fertilizer and machinery providers as the key supplier.
Competition within the UK agricultural products industry is assessed as moderate. Rivalry has been eased by strong industry growth and the establishment of a new UK-EU trade deal which will allow UK farmers to continue tariff free exports to Europe.
Large grocery retailers, such as Tesco, Sainsbury’s and Asda, as well as large food processing and manufacturing companies, and agricultural companies who specialize in animal husbandry, are some of the largest buyers of agricultural products. Buyer power is weakened by the formation of agricultural co-operatives, such as Openfield Group, as well as forward integration in the form of farm shops used to deliver produce directly to consumers.
There are no truly threatening substitutes to agricultural producers. Produce such as fruit, vegetables, wheat, sugar, potatoes and rice form a stable and important part of most people’s diets. As such, buyers can be confident that consumer demand will remain strong.
Competitive Landscape
The UK agricultural products industry comprises many domestic and foreign multinational agricultural traders and marketing companies, as well as many smallholders, independent farmers and farming cooperatives. There have been several strategic mergers and acquisitions that have restructured the market’s competitive landscape, such as the formation of the UK’s largest crop production and grain marketing business through the partnership of Associated British Foods and Cargill. Smallholders still dominate most agriculture production in the UK, while larger companies dominate the manufacturing, distribution and marketing of agricultural products.
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