Rice - Thailand | Statista Market Forecast

Revenue in the Rice market amounts to US$5.30bn 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$73.80 are generated in 2024.
In the Rice market, volume is expected to amount to 4.48bn kg by 2029. The Rice market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Rice market is expected to amount to 54.8kg 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 Thailand has seen minimal growth due to various factors such as low consumer awareness, limited adoption of digital technologies, and lack of convenience in online services. However, efforts are being made to improve the market's growth rate.

Customer preferences: As health and wellness trends continue to gain popularity in Thailand, consumers are increasingly seeking healthier options in the Rice Market of the Bread & Cereal Products Market. This has led to a rise in demand for organic and gluten-free rice products, as well as a growing interest in alternative grains like quinoa and amaranth. Additionally, with the rising awareness of sustainable and ethical consumption, there is a growing preference for locally-sourced and eco-friendly rice options.

Trends in the market: In Thailand, the Rice Market within the Bread & Cereal Products Market is experiencing a trend towards healthier options, with a growing demand for organic and whole-grain rice. This trend is driven by increasing health consciousness among consumers and government initiatives promoting sustainable agriculture. As a result, industry stakeholders are investing in new product development and sustainable farming practices to meet this demand. Additionally, the rise of e-commerce has made it easier for consumers to access a wider variety of rice products, further driving the growth of this market. These trends are expected to continue in the future, presenting opportunities for expansion and innovation in the industry.

Local special circumstances: In Thailand, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geography and cultural preferences. As a major producer and exporter of rice, Thailand's market dynamics are linked to global demand and supply. Additionally, the country's strong Buddhist beliefs have led to a high consumption of rice as a staple food. Furthermore, the government's policies and subsidies for rice production and exports have a significant impact on the market. The unique combination of these factors creates a distinct market environment for rice in Thailand, making it a key player in the global rice trade.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Thailand is greatly impacted by macroeconomic factors at both the global and national level. The global demand for rice, as a staple food, has a significant influence on the market. Economic trends such as increasing urbanization, changing dietary patterns, and growing population also play a role in shaping the market. Moreover, government policies, trade agreements, and investments in agricultural infrastructure and technology greatly affect the production and distribution of rice in Thailand. Additionally, the country's economic health, including factors like inflation, interest rates, and GDP growth, can impact consumer spending and ultimately, the demand for rice and other cereal products.

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.