Rice - Bolivia | Statista Market Forecast

Revenue in the Rice market amounts to US$56.44m in 2024. The market is expected to grow annually by 6.75% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$150bn in 2024).
In relation to total population figures, per person revenues of US$4.49 are generated in 2024.
In the Rice market, volume is expected to amount to 35.36m kg by 2029. The Rice market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Rice market is expected to amount to 2.4kg in 2024.

Definition:

Around the world, rice is a widely farmed and consumed staple food crop. It is a cereal grain that serves as a significant source of fiber, vitamins, and minerals. The Rice market covers several rice varieties, such as long-grain rice, medium-grain rice, short-grain rice, white rice, brown rice, and wild rice, as well as sticky rice and parboiled rice.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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White Rice
Brown Rice
Basmati Rice
Jasmine Rice
Arborio Rice
Parboiled Rice
Quick-Cooking Rice

Rice-based ready-to-eat meals
Puffed rice
Coucous
Bulgur
Rice noodles
Out-of-home consumption

The Rice Market in Bolivia has seen minimal growth, impacted by factors such as limited technological adoption, low health consciousness among consumers, and the lack of convenience in online services. Despite these challenges, the market is expected to slowly expand due to the staple nature of rice in the country's food market.

Customer preferences: As health and wellness become increasingly important to consumers in Bolivia, there has been a rise in demand for healthier and more nutritious rice options. This trend is driven by a growing awareness of the link between diet and overall well-being. Additionally, there is a growing preference for locally sourced rice, as consumers prioritize supporting small-scale farmers and reducing their carbon footprint. These factors have led to a shift in the rice market towards more sustainable and health-conscious choices.

Trends in the market: In Bolivia, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, driven by consumer demand for nutritious and sustainable products. This trend is expected to continue as consumers become more health-conscious and environmentally aware. As a result, industry stakeholders are investing in research and development to create innovative products that cater to this demand. This presents an opportunity for new players to enter the market and for existing companies to expand their product offerings. However, it also poses a challenge for traditional rice producers to adapt and remain competitive in the changing market landscape.

Local special circumstances: In Bolivia, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geography and climate. Most of the rice production is concentrated in the eastern lowlands, where the soil and climate are suitable for cultivation. The country's unique topography, with high altitudes and mountainous regions, also affects the distribution and availability of rice. Additionally, Bolivia's diverse cultural background, with indigenous communities and their traditional consumption patterns, plays a significant role in shaping the demand for rice in the market. Furthermore, government regulations and policies, such as price controls and import restrictions, have a significant impact on the dynamics of the Rice Market in Bolivia.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Bolivia is impacted by various macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic growth and stability play a crucial role in determining the demand and supply of rice in the market. Favorable economic conditions, such as increasing disposable income and consumer spending, lead to higher demand for rice products. Furthermore, government policies, such as import/export regulations and subsidies, also affect the market by influencing the availability and pricing of rice. Additionally, global trade agreements and currency exchange rates can impact the competitiveness and profitability of the rice market in Bolivia.

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.