Rice - NAFTA | Statista Market Forecast

Revenue in the Rice market amounts to US$9.10bn in 2024. The market is expected to grow annually by 3.08% (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$17.83 are generated in 2024.
In the Rice market, volume is expected to amount to 5.13bn kg by 2029. The Rice market is expected to show a volume growth of 1.0% in 2025.0.
The average volume per person in the Rice market is expected to amount to 9.7kg 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 the NAFTA region has seen limited growth due to various factors such as low consumer awareness, limited technological advancements, and low adoption of online services. Despite these challenges, the market is expected to grow in the coming years with the increasing demand for healthier food options.

Customer preferences: Consumers in the Rice Market of the Bread & Cereal Products Market within The Food market are increasingly looking for healthier options, leading to a rise in demand for gluten-free and organic rice products. With a growing focus on sustainability and ethical sourcing, consumers are also seeking out rice from fair trade and environmentally-friendly sources. This trend towards health and sustainability is expected to continue, driving the growth of niche rice products and alternative grains in the market.

Trends in the market: Currently, there is a growing trend in the Rice Market of the Bread & Cereal Products Market within The Food market for healthier and more sustainable options. This has led to an increase in demand for organic and non-GMO rice products, as well as rice alternatives such as quinoa and cauliflower rice. Additionally, there is a rising interest in sustainably sourced rice, as consumers become more conscious of the environmental impact of their food choices. These trends are expected to continue, presenting opportunities for industry stakeholders to innovate and cater to the evolving preferences of consumers.

Local special circumstances: In Mexico, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's strong agricultural sector and its geographical proximity to the United States, a major rice exporter. Additionally, Mexico's diverse culinary culture and strong preference for rice-based dishes have driven demand for high-quality rice products. However, regulatory hurdles and trade restrictions with the US, such as those related to NAFTA, can create challenges for market players. Furthermore, the country's growing population and rising urbanization rates are fueling demand for convenient and nutritious food options, providing opportunities for innovation and growth in the rice market.

Underlying macroeconomic factors: The growth of the Rice Market within the Bread & Cereal Products Market is heavily influenced by macroeconomic factors such as trade policies and global economic trends. With the implementation of NAFTA, the market has seen increased competition and trade opportunities. Additionally, the national economic health and fiscal policies of the country play a major role in determining the demand and supply of rice in the market. For instance, a stable economy and favorable fiscal policies can lead to higher consumer spending and thus, drive the demand for rice in the market. Furthermore, the overall health of the agricultural sector, technological advancements, and investment in infrastructure also impact the performance of the rice market. These factors, along with changing consumer preferences and demographics, shape the growth trajectory of the Rice Market within the Bread & Cereal Products 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.