Rice - Laos | Statista Market Forecast

Revenue in the Rice market amounts to US$262.70m in 2024. The market is expected to grow annually by 5.53% (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$33.96 are generated in 2024.
In the Rice market, volume is expected to amount to 188.80m kg by 2029. The Rice market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Rice market is expected to amount to 21.9kg 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 Laos has seen minimal growth due to factors such as low purchasing power among consumers and limited access to digital technologies. Despite rising health awareness, the convenience of online health services has not been fully realized in this market.

Customer preferences: Consumers in Laos are increasingly opting for healthier food options, leading to a rise in demand for organic and whole grain rice products. This trend is driven by a growing awareness of the health benefits of incorporating whole grains into the diet. Additionally, the rise in vegetarian and vegan diets in the country has also contributed to the demand for alternative rice products, such as quinoa and brown rice. This shift towards healthier food choices is also influenced by the younger generation's desire for a more sustainable and eco-friendly lifestyle.

Trends in the market: In Laos, the Rice Market within the Bread & Cereal Products Market is experiencing a shift towards organic and sustainable farming practices. This trend is driven by increasing consumer demand for healthier and environmentally-friendly food options. Additionally, there is a rise in the use of technology in rice production, such as precision farming and digital tracking systems. These advancements are expected to improve efficiency and quality in the industry. However, there may be challenges for small-scale farmers to adopt these technologies, which could lead to a widening gap between larger and smaller producers. Industry stakeholders must stay informed and adapt to these changes to remain competitive in the evolving rice market.

Local special circumstances: In Laos, the Rice Market within the Bread & Cereal Products Market is heavily influenced by the country's geography and cultural traditions. The fertile Mekong River Delta provides ideal conditions for rice cultivation, making it a staple crop in the local diet. Additionally, rice is a significant part of traditional celebrations and ceremonies, driving demand for high-quality rice varieties. The market is also regulated by the government, with rice being a controlled commodity and subject to export restrictions. These unique factors play a crucial role in shaping the dynamics of the Rice Market in Laos.

Underlying macroeconomic factors: The Rice Market in Laos is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's economy heavily relies on agriculture, with rice being the main crop. Therefore, any fluctuations in global demand, trade policies, or environmental conditions can significantly impact the country's rice market. Additionally, factors such as inflation rates, exchange rates, and government subsidies also play a crucial role in determining the price and availability of rice in the market. Furthermore, the growing population and changing dietary preferences in the region are also driving the demand for rice, creating opportunities for 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.