Market Size of Bangladesh Rice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bangladesh Rice Market Analysis
The Bangladesh rice market is expected to register a CAGR of 4.1% during the forecast period.
- Rice is the staple food of Bangladesh's population and has a huge demand in the country. This leads to increased imports of the country from other rice-producing countries. India, China, and Pakistan are the major exporters to Bangladesh. The liberalization of import duties by the government will give a clear picture of the demand-supply gap in the country. Domestic players dominate the Bangladesh market. They are supported by strong distribution channels such as local retail stores, supermarkets, etc.
- The overall climate in Bangladesh is tropical and monsoon-type. The rice is sowed in Bangladesh in the Kharif season, starting mid-March and continuing until October. Rice is grown in the Kharif season. Due to Bangladesh's environmental conditions, rice has become a staple food in the region. Rice has many nutritional benefits.
- For instance, rice prevents obesity, provides a good amount of protein, is a good energy source, and prevents constipation. As the trend of gluten-free food is everywhere, rice is being consumed in Bangladesh in more quantity as it is gluten-free. According to United States Department of Agriculture (USDA) data from 2021, Bangladesh harvested 11,650 thousand hectares of rice in 2021. Over the medium term, demand for rice will increase in the market owing to its application in various fields, quality parameters, and convenient distribution channels.
