Rice - Seychelles | Statista Market Forecast

Revenue in the Rice market amounts to US$2.77m in 2024. The market is expected to grow annually by 3.52% (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$25.60 are generated in 2024.
In the Rice market, volume is expected to amount to 2.09m kg by 2029. The Rice market is expected to show a volume growth of 1.8% in 2025.0.
The average volume per person in the Rice market is expected to amount to 17.7kg 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 within The Food market in Seychelles is currently experiencing a slight decline in growth, due to factors such as changes in consumer preferences and a shift towards healthier food options. Despite this, the market is still driven by the convenience and accessibility of online food services, as well as the increasing health awareness among consumers.

Customer preferences: Rice consumption in Seychelles has been on the rise, driven by a growing interest in healthier dietary options. This trend is also reflected in the Rice Market of the Bread & Cereal Products Market within The Food market, with consumers increasingly opting for whole grain and organic rice varieties. This is linked to a greater awareness of the health benefits of whole grains and a desire for more natural and sustainable food choices. Additionally, there is a growing demand for gluten-free rice products, catering to the needs of consumers with gluten intolerance or celiac disease.

Trends in the market: In Seychelles, the Rice Market of the Bread & Cereal Products Market within The Food market is seeing an increase in demand for healthier and more sustainable rice options. This trend is driven by growing health consciousness and concerns about the environmental impact of traditional rice production. As a result, there is a rise in the availability of organic and specialty rice varieties. This trend is expected to continue, with potential implications for industry stakeholders such as rice producers and retailers who may need to adapt to meet the changing consumer preferences.

Local special circumstances: In Seychelles, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and small population. Being an island nation, Seychelles relies heavily on imported rice, making it a major contributor to the market dynamics. Additionally, the country's diverse cultural influences, including Indian and Chinese, have led to a unique demand for different varieties of rice. Moreover, strict government regulations on imports and food safety standards also play a significant role in shaping the market landscape.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Seychelles is influenced by macroeconomic factors such as import/export policies, international trade agreements, and fluctuations in global rice prices. Additionally, the country's economic health and fiscal policies also play a significant role in shaping market performance. For example, a stable economy and favorable fiscal policies that support agriculture and food production can stimulate demand for rice in the domestic market. On the other hand, economic uncertainties or restrictive trade policies can hinder market growth and impact the availability and affordability of rice for consumers.

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.