Rice - Bulgaria | Statista Market Forecast

Revenue in the Rice market amounts to US$32.67m in 2024. The market is expected to grow annually by 4.10% (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$4.94 are generated in 2024.
In the Rice market, volume is expected to amount to 18.11m kg by 2029. The Rice market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Rice market is expected to amount to 2.5kg 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 Bulgaria has seen minimal growth due to various factors such as low consumer awareness, limited use of digital technologies, and lack of convenience in online services. Despite these challenges, the market is slowly growing with potential for further expansion in the future.

Customer preferences: Consumers in Bulgaria have shown a growing interest in healthy and organic food options, leading to an increase in demand for rice products. This trend is driven by a growing awareness of the health benefits of rice, such as its high fiber and nutrient content. Furthermore, with the rise in popularity of plant-based diets, rice has become a staple in many households. This shift towards healthier eating habits is also reflected in the increasing availability of gluten-free and organic rice products in the market.

Trends in the market: In Bulgaria, the Rice Market within the Bread & Cereal Products Market is experiencing a shift towards healthier options, with a growing demand for organic and gluten-free rice products. This trend is driven by increasing health consciousness among consumers, as well as government initiatives promoting a healthy diet. Furthermore, with the rise of e-commerce, online sales of rice products have seen a significant increase. This presents new opportunities for industry stakeholders to tap into the digital market and expand their customer base. However, it also poses challenges in terms of ensuring product quality and safety during delivery. Overall, these trends indicate a growing potential for the Rice Market in Bulgaria, while also highlighting the need for innovation and adaptation in the industry.

Local special circumstances: In Bulgaria, the Rice Market within the Bread & Cereal Products Market is heavily influenced by the country's geographical location and cultural traditions. Being situated in the Balkans, Bulgaria has a long history of rice consumption and production, with rice dishes being an integral part of their cuisine. Additionally, the country has strict regulations on food imports, creating a competitive advantage for local producers. This, coupled with the rising health consciousness among consumers, has led to a growing demand for organic and sustainably sourced rice in the market. Furthermore, the government's initiatives to promote healthy eating habits and support local farmers have further bolstered the growth of the rice market in Bulgaria.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Bulgaria is impacted by various macroeconomic factors. The country's stable economic growth, supported by favorable fiscal policies and increasing consumer spending, has led to a growing demand for rice products. Additionally, the rise in health consciousness and the growing trend of gluten-free and plant-based diets have also contributed to the increasing demand for rice in Bulgaria. Furthermore, the country's strategic location and its access to export markets have also played a significant role in driving the growth of the rice market.

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.