Rice - Finland | Statista Market Forecast

Revenue in the Rice market amounts to US$42.49m in 2024. The market is expected to grow annually by 2.51% (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$7.66 are generated in 2024.
In the Rice market, volume is expected to amount to 15.00m kg by 2029. The Rice market is expected to show a volume growth of 0.8% in 2025.0.
The average volume per person in the Rice market is expected to amount to 2.6kg 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 Bread & Cereal Products Market in Finland is experiencing negligible growth, influenced by factors like low consumer health awareness and limited adoption of digital technologies.

Customer preferences: In Finland, consumer preferences for rice have shifted towards healthier options, such as brown and wild rice, reflecting a growing trend towards health-conscious choices. Additionally, there has been a rise in demand for locally-produced rice, driven by a desire to support and promote domestic agriculture. This shift is also influenced by a greater focus on sustainability and reducing the carbon footprint of food production. Furthermore, with a significant increase in vegetarian and vegan diets, there is a growing demand for rice-based substitutes for traditional meat products, such as rice-based burgers and sausages.

Trends in the market: In Finland, the demand for gluten-free and organic rice products is on the rise, driven by the increasing health consciousness among consumers. This trend is expected to continue, with consumers becoming more aware of the benefits of a gluten-free and organic diet. Additionally, there is a growing interest in alternative rice varieties such as black and red rice, which are seen as healthier options. These trends present opportunities for industry stakeholders to tap into the growing demand for specialty rice products and expand their product portfolios. However, it also poses a challenge for traditional rice producers to adapt and meet the changing consumer preferences.

Local special circumstances: In Finland, the Rice Market of the Bread & Cereal Products Market within The Food market is influenced by the country's high level of health consciousness and preference for organic and locally-sourced products. This has led to a rise in demand for organic and specialty rice varieties. Additionally, the country's strict food regulations and stringent quality control measures ensure high-quality and safe products for consumers. The market is also driven by the increasing trend of plant-based diets, with rice being a staple grain for vegetarian and vegan diets.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Finland is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Finland has a stable and prosperous economy, with a strong focus on innovation and technology. This has resulted in a well-developed food industry that is able to meet the growing demand for rice and other cereal products. Additionally, Finland's strong commitment to sustainability and environmentally friendly practices has positively impacted the production and consumption of rice, leading to a more sustainable and ethical market. Moreover, Finland's favorable business climate and supportive regulatory environment have attracted investments in the food industry, further 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.