Rice - Colombia | Statista Market Forecast

Revenue in the Rice market amounts to US$152.50m in 2024. The market is expected to grow annually by 5.94% (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$2.91 are generated in 2024.
In the Rice market, volume is expected to amount to 126.00m kg by 2029. The Rice market is expected to show a volume growth of 4.2% in 2025.0.
The average volume per person in the Rice market is expected to amount to 2.1kg 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 Colombia has been growing at a minimal rate, impacted by factors such as fluctuations in supply and demand, changing consumer preferences, and government regulations. Despite this, The Food market in Colombia continues to see steady growth due to the increasing population and rising disposable income.

Customer preferences: In Colombia, there has been a noticeable increase in demand for gluten-free and organic rice products, driven by the rise in health-conscious consumers. This trend is also influenced by the growing awareness of environmental sustainability and ethical farming practices. Additionally, with the rise of urbanization and busy lifestyles, there has been a shift towards convenient and ready-to-eat rice-based snacks and meals, catering to the on-the-go needs of consumers. These changes reflect a growing preference for healthier and more convenient options in the Rice Market of the Bread & Cereal Products Market within The Food market.

Trends in the market: In Colombia, the Rice Market within the Bread & Cereal Products Market is experiencing a surge in demand for organic and gluten-free rice products. This trend is driven by the increasing health-consciousness among consumers and rising awareness of the benefits of organic and gluten-free diets. This trajectory is significant as it presents opportunities for industry stakeholders to expand their product offerings and cater to a wider range of consumers. Additionally, it also highlights the importance of sustainability and ethical sourcing in the rice market. Moving forward, it is crucial for industry players to continue innovating and adapting to these trends in order to stay competitive in the market.

Local special circumstances: In Colombia, the Rice Market within the Bread & Cereal Products Market of The Food market is heavily influenced by the country's agricultural landscape and cultural preferences. The country's diverse climate allows for the production of various rice varieties, catering to the local demand for different types of rice. Additionally, rice is a staple food in Colombian cuisine, leading to a high consumption rate and a strong domestic market. Government regulations also play a role in promoting domestic rice production and protecting local farmers, resulting in a limited presence of international rice brands in the market.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Colombia is influenced by several macroeconomic factors. These include the country's overall economic health, as well as global economic trends and fiscal policies. Additionally, government initiatives and investments in agriculture and food production also play a significant role in shaping the market. Other relevant financial indicators, such as inflation rates and currency exchange rates, also impact the performance of the Rice Market in Colombia. Moreover, population growth and changing consumer preferences towards healthier food options are also important factors driving the demand for rice in the country.

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.