Rice Trade Analysis Market Size (2024 - 2029)

The rice market is a crucial sector with a significant market size, driven by its status as a staple food in many regions, particularly in East and Southeast Asia. Major producers like China, India, and Indonesia contribute to the global supply, while countries such as India, Burma, and Vietnam lead in exports. The market's dynamics are influenced by international trade patterns, with Japonica rice holding a substantial market share. The import landscape is diverse, with Sub-Saharan Africa and the Middle East being key regions, and China, the Philippines, and Saudi Arabia among the largest importers. Despite the United States' small domestic production, it plays a vital role in global exports.

Market Size of Rice Trade Analysis

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Rice Trade Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 306.38 Billion
Market Size (2029) USD 341.59 Billion
CAGR (2024 - 2029) 2.20 %

Major Players

Rice Trade Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Rice Trade Analysis Market Analysis

The Rice Market size is estimated at USD 306.38 billion in 2024, and is expected to reach USD 341.59 billion by 2029, growing at a CAGR of 2.20% during the forecast period (2024-2029).

  • Rice is a staple food for many parts of the world, especially in the east and southeast Asian countries; the significant rice producers are China, India, Indonesia, Bangladesh, etc. According to a report from the United States Department of Agriculture (USDA) for 2022, the world will produce 515.1 million metric tons of rice that year. This is 1.38% more than the previous year.
  • According to reports from the USDA, rice production in 2021 was valued at 509.3 million metric tons. The major exporters of rice are Burma, India, Pakistan, and Vietnam. In the case of imports, the major importers are China, Europe, the Middle East, and the Philippines.
  • For rice varieties like Japonica, the international rice trade has the largest market share.Further, international trade in glutinous rice has increased over the past three years. The rice import scenario is quite fragmented, with the top five importers accounting for approximately 36.7% of the global imports in 2021.
  • India accounted for as much as 45 percent of global rice exports in 2021. Expanded port-handling capacity allowed the world's second-largest rice grower after China to ship record volumes to buyers across Africa and Asia. India is the world's biggest rice exporter, sending more rice annually than the three largest exporters, Thailand, Vietnam, and Pakistan. India's rice exports increased by almost 46% from 2020, reaching 21 million metric tons in 2021.
  • Even though the United States only grows less than 2% of the world's rice, it is a major exporter and accounts for about 6% of the world's annual rice trade, which is a lot, according to a report from the USDA. In terms of consumption, China, India, and Bangladesh are the major consumers. From 2019 to 2021, the annual average consumption of China was 150.6 million metric tons, followed by India and Bangladesh with 104.2 million metric tons and 36.10 million metric tons, respectively.
  • Sub-Saharan Africa is the largest importer of rice in the world. Its total imports are just a bit higher than those of Asia, which account for almost 31% of global imports. The Middle East is also an important import market. China, the Philippines, and Saudi Arabia are the biggest importers of rice. According to UN Comtrade data, China's rice imports will increase by 68% starting in 2020 and reach 4.9 million metric tons in 2021.

Rice Trade Analysis Industry Segmentation

Rice is the starchy seeds of an annual southeast Asian cereal grass (Oryza sativa) that are cooked and used for food. For the study, only rice grains have been considered. The Global Rice Trade Analysis report is segmented by Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers the Import Analysis (Value and Volume) and Export Analysis (Value and Volume) of rice based on the abovementioned segments. The report provides market estimation and forecasts in value (USD million) and volume (metric ton) for the abovementioned segments. 

Geography (Import Analysis by Value and Volume, Export Analysis by Value and Volume)
North America
United States
Canada
Europe
France
United Kingdom
Germany
Italy
Spain
Asia-Pacific
China
India
Thailand
Vietnam
Pakistan
South America
Brazil
Argentina
Africa
South Africa
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Rice Trade Analysis Size Summary

The rice market is a vital component of the global agricultural landscape, with significant production and trade activities centered in Asia. Major rice-producing countries include China, India, Indonesia, and Bangladesh, while key exporters are Burma, India, Pakistan, and Vietnam. The international rice trade is characterized by a diverse range of varieties, with Japonica rice holding a substantial market share. The trade dynamics are influenced by both importing and exporting countries' policies, which aim to stabilize markets and promote exports, respectively. The United States, despite its small domestic production, plays a significant role as an exporter, contributing to the global rice trade. The market is also shaped by the consumption patterns in countries like China, India, and Bangladesh, which are the largest consumers of rice.

The rice trade is further impacted by geopolitical and economic factors, with Sub-Saharan Africa being the largest importer. The Middle East and regions like Europe and Asia also play significant roles in the import landscape. China's position as a top importer and consumer is driven by its domestic support programs and high internal prices, which encourage imports from neighboring countries. Trade policies, such as tariff-rate quotas and export duties, are crucial in regulating supply and prices, ensuring market stability. India's dominance in rice exports, particularly in basmati rice, is supported by favorable climatic conditions and increasing demand from regions like North America and Europe. The global rice market is expected to grow, driven by rising demand and supportive trade policies, despite occasional restrictions and policy changes by major producing countries.

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Rice Trade Analysis Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

  2. 2. MARKET SEGMENTATION

    1. 2.1 Geography (Import Analysis by Value and Volume, Export Analysis by Value and Volume)

      1. 2.1.1 North America

        1. 2.1.1.1 United States

        2. 2.1.1.2 Canada

      2. 2.1.2 Europe

        1. 2.1.2.1 France

        2. 2.1.2.2 United Kingdom

        3. 2.1.2.3 Germany

        4. 2.1.2.4 Italy

        5. 2.1.2.5 Spain

      3. 2.1.3 Asia-Pacific

        1. 2.1.3.1 China

        2. 2.1.3.2 India

        3. 2.1.3.3 Thailand

        4. 2.1.3.4 Vietnam

        5. 2.1.3.5 Pakistan

      4. 2.1.4 South America

        1. 2.1.4.1 Brazil

        2. 2.1.4.2 Argentina

      5. 2.1.5 Africa

        1. 2.1.5.1 South Africa

Rice Trade Analysis Market Size FAQs

The Rice Market size is expected to reach USD 306.38 billion in 2024 and grow at a CAGR of 2.20% to reach USD 341.59 billion by 2029.

In 2024, the Rice Market size is expected to reach USD 306.38 billion.

Rice Trade Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)