Rice - Iraq | Statista Market Forecast

Revenue in the Rice market amounts to US$507.90m in 2024. The market is expected to grow annually by 4.81% (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$10.92 are generated in 2024.
In the Rice market, volume is expected to amount to 403.10m kg by 2029. The Rice market is expected to show a volume growth of 5.2% in 2025.0.
The average volume per person in the Rice market is expected to amount to 7.3kg 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 within The Food market in Iraq has shown minimal growth, impacted by factors such as limited technological advancements, low consumer awareness, and traditional preferences for purchasing rice from physical markets.

Customer preferences: As the demand for healthier food options continues to grow, consumers in Iraq are increasingly gravitating towards whole grain and organic rice products. This trend is driven by a growing awareness of the health benefits of these products, as well as a desire for more sustainable and ethically produced food. Additionally, with the rising popularity of home-cooked meals, there is a growing demand for convenient and easy-to-prepare rice products, such as microwavable rice cups and pre-cooked rice pouches. This shift towards healthier and convenient rice options is expected to continue as consumers become more health-conscious and environmentally aware.

Trends in the market: In Iraq, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing an increase in demand for rice-based products due to the growing popularity of Middle Eastern cuisine globally. This trend is expected to continue as consumers seek out healthier options and diversify their diets. Additionally, the rise of e-commerce and online grocery shopping is providing easier access to a wider variety of rice products. This presents opportunities for industry stakeholders to expand their offerings and reach new markets. However, it also poses challenges in terms of supply chain management and maintaining quality standards. As such, companies in the Rice Market must stay abreast of these trends and adapt their strategies accordingly to remain competitive in the evolving market.

Local special circumstances: In Iraq, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and cultural practices. The demand for rice is high due to its importance in traditional Iraqi cuisine, such as biryani and qeema, and its availability as an affordable staple food. Additionally, government regulations and import policies play a significant role in shaping the market, as Iraq heavily relies on rice imports to meet its domestic demand. The country's ongoing economic and political instability further impact the market's dynamics, creating volatility in prices and supply.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market is influenced by various macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The market performance is affected by the overall economic stability of the country, as well as government policies and regulations related to agriculture and trade. Additionally, changing consumer preferences, rising disposable income, and increasing health consciousness among consumers are also significant drivers of the market. Moreover, the growing population and urbanization in developing countries are creating a high demand for rice, leading to market growth.

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.