Market Insights Consumer Food Bread & Cereal Products

Rice - Russia

Russia

Revenue in the Rice market amounts to €1.21bn in 2024. The market is expected to grow annually by 12.18% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€139,000m in 2024).
In relation to total population figures, per person revenues of €8.41 are generated in 2024.
In the Rice market, volume is expected to amount to 1.08bn kg by 2029. The Rice market is expected to show a volume growth of 7.6% in 2025.
The average volume per person in the Rice market is expected to amount to 5.4kg in 2024.

Key regions: Spain, China, Canada, India, South Korea

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Comparación de regiones

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Analyst Opinion

The Rice market in Russia is experiencing a mild growth rate, influenced by factors such as growing health consciousness, increasing adoption of digital technologies, and the convenience of online health services. This has contributed to the overall growth of the Bread & Cereal Products market within the Food industry.

Customer preferences: Shifts in consumer preferences in the Rice Market of the Bread & Cereal Products Market within The Food market in Russia are being driven by a growing health consciousness among the population. There is a rising demand for healthier and more nutritious options, with consumers opting for whole grain and organic rice varieties. This trend is also influenced by a shift towards a more Westernized diet, with rice being a staple in many Western countries. Additionally, there is a growing interest in ethnic cuisines, leading to an increase in demand for traditional rice dishes from various cultures.

Trends in the market: In Russia, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options. Consumers are increasingly opting for whole grain and organic rice products, driven by growing health consciousness and concerns over the use of pesticides. This trend is expected to continue, with the market projected to grow at a CAGR of 6.8% from 2021 to 2026. This presents opportunities for industry players to innovate and expand their product offerings in line with changing consumer preferences. Additionally, the rise of e-commerce and online grocery shopping in Russia is also expected to contribute to the growth of the rice market, as consumers seek greater convenience and variety in their food choices.

Local special circumstances: In Russia, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and production capabilities. Russia is one of the world's largest producers of wheat, making it a key player in the global grain market. This allows for a steady supply of domestically grown rice, reducing the reliance on imports. Additionally, cultural norms and preferences for rice dishes in Russian cuisine drive demand for the product, further shaping the market dynamics. Furthermore, strict government regulations and trade policies also play a significant role in shaping the competitive landscape of the rice market in Russia.

Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Russia is heavily influenced by macroeconomic factors such as economic stability, government policies, and global trade dynamics. The country's strong agricultural sector, coupled with favorable government policies, has led to a steady increase in rice production. Additionally, the growing demand for healthier food options and the increasing adoption of rice in traditional Russian cuisine have also contributed to the growth of the market. However, fluctuations in global rice prices and geopolitical tensions can impact the import and export of rice in the country, affecting market performance. Furthermore, the ongoing COVID-19 pandemic has also posed challenges to the market, with disruptions in supply chains and changes in consumer behavior.

Methodology

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.