Rice Market Outlook 2022–2028: Trends, Growth & Global Forecasts
The global rice market was valued at USD 287.45 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 2.2% from 2022 to 2028. This growth is largely driven by the expansion of the global food and restaurant sectors, which has significantly contributed to the increasing demand for rice. As a staple food for more than half of the world's population, rice holds a central place in the global diet—particularly in the Asia Pacific region, which accounts for the largest share of consumption. This regional dominance continues to be a critical factor supporting overall market expansion. In addition to consumption trends, technological advancements in rice milling machinery and improvements in attractive and functional packaging are also boosting demand, particularly in emerging economies where modernization of food processing industries is accelerating. These enhanc...