Bangladesh Rice Market Size
| 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 |
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.
Bangladesh Rice Market Trends
This section covers the major market trends shaping the Bangladesh Rice Market according to our research experts:
Growing Population and Increase in Disposable Income
- Rice is a staple food in Bangladesh in many houses. People consume rice on a daily basis in their homes. According to United States Department of Agriculture (USDA) data from 2021, Bangladesh produced 34,600 (1000 MT) of rice in 2021. The rice market is growing in the region with an increase in disposable income and the population.
- A variety of rice like Chinogura rice, Kataribhog Rice, Paijam Rice, Najirshail Rice, and many more are available in the market. In the low-lying marshlands of Bangladesh, Boro is the most important and preferred variety of crop in the region.
- The increasing population and income sources also increase the price of rice in the local market. Furthermore, suppose the supply of fertilizers from the Ministry of Agriculture (MOA) and the Department of Agriculture Extension (DAE) is continued. In that case, domestic rice demand is expected to be higher over the medium term.
Regular Rice Dominates The Market
- Bangladesh's rice market is operated by both government and private sector players. The government is bringing various policies and interventions to achieve self-sufficiency. Regular price occupies the major share in the Bangladesh rice market since aromatic rice is costly and is mainly preferred by the higher economic class.
- Under the Public Food-Grain Distribution System, the government distributes rice both through monetized channels (like the Open Market Sales Program) and through nonmonetized (targeted) channels (such as FoodforWork, the Vulnerable Groups Development Program, and several smaller programs). Local varieties, such as Kataribhog, Kataktara, Bashful, Bau-pagal, and Nizershail, are preferred for regular consumption.
- The market players also use broken rice to prepare animal feed in the region. Government initiatives are also driving the market for better growth. For example, the Ministry of Agriculture (MOA) has also allocated USD 37.64 million over the 2021-2025 time period for the distribution of 52,000 units of farm equipment to support the development of modern agriculture practices.
Bangladesh Rice Industry Overview
The Bangladesh rice market is fragmented. Among types, regular rice is the most preferred by consumers compared to the aromatic type of rice. Domestic players hold a major share of the market. The new entrants in the market should mainly focus on increasing their share in the aromatic rice segment in the country. The prominent players in the market are Alin, ACI Ltd, Pran, Square Food and Beverages, Ovijat Foods, Agro Organica, and Ovijat Foods, among others.
Bangladesh Rice Market Leaders
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Alin Foods
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ACI
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Pran Foods
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Square Foods and Beverages
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Ovijat Foods
*Disclaimer: Major Players sorted in no particular order
Bangladesh Rice Market News
- August 2022: According to BV Krishnarao, president of the Rice Exporters Association, rice prices increased in India because Bangladesh started importing rice from India. Popular varieties like Sona Masoori have increased by 30%.
- June 2022: Bayer Crop Science, a leading crop science company, launched Arize Hybrid Rice Seed 'INH 16019' in Bangladesh. This variety is produced with intolerance to brown plant hopper (BPH) and bacterial leaf blight (BLB).
- June 2022: Food Planning and Monitoring Committee in Bangladesh decided to import rice privately from other countries to keep the market stable. This decision was taken because of the rising rice prices despite the harvest season.
Bangladesh Rice Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Regular
5.1.2 Aromatic
5.2 Distribution Channel
5.2.1 Roadsided Stores
5.2.2 Municipal Corporation Markets
5.2.3 Convenience stores
5.2.4 Hypermarket/Supermarket
5.2.5 Online Channel
6. COMPETITIVE LANDSCAPE
6.1 Strategies adopted by Key Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Alin
6.3.2 Pran
6.3.3 Square Food and beverges
6.3.4 Ovijat Foods
6.3.5 Agro organica
6.3.6 ACI Ltd
6.3.7 Banga Millers
6.3.8 Bayer Crop Science
6.3.9 Meghna Group of Industries (Chinigura Rice Aromatic)
6.3.10 Banga Millers
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Bangladesh Rice Industry Segmentation
Rice is a seed of Oryza Sativa, consumed as a staple food in many regions of the world. In
Bangladesh, rice is eaten as a staple food, and the market is segmented by type into regular rice and aromatic rice. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, online channels, municipal corporation stores, and roadside shops.
For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | |
| Regular | |
| Aromatic |
| Distribution Channel | |
| Roadsided Stores | |
| Municipal Corporation Markets | |
| Convenience stores | |
| Hypermarket/Supermarket | |
| Online Channel |
Bangladesh Rice Market Research FAQs
What is the current Bangladesh Rice Market size?
The Bangladesh Rice Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Bangladesh Rice Market?
Alin Foods, ACI, Pran Foods, Square Foods and Beverages and Ovijat Foods are the major companies operating in the Bangladesh Rice Market.
What years does this Bangladesh Rice Market cover?
The report covers the Bangladesh Rice Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bangladesh Rice Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key growth opportunities in the Bangladesh Rice Market?
The key growth opportunities in the Bangladesh Rice Market are a) Focus on high-value aromatic and specialty rice varieties to cater to international demand b) Capitalize on the growing global demand for organic food products with certifications and traceability systems
Bangladesh Rice Industry Report
The Bangladesh rice market is on an upward trajectory, fueled by its staple food status among the populace, necessitating hefty imports from rice-rich nations such as India, China, and Pakistan. Efforts by the government to ease import duties, coupled with robust distribution networks spanning local retail outlets and supermarkets, are testament to the sector's vitality. Propelled by the nation's tropical monsoon climate, rice varieties like Chinogura, Kataribhog, and Boro thrive, addressing the diverse palate of Bangladeshi consumers. While regular rice varieties command the market due to affordability, aromatic rice is gaining traction amongst the affluent, driven by rising incomes. With both government and private sectors pushing for agricultural self-sufficiency via supportive policies and modern farming practices, the market dynamics underscore rice's critical role in the nation's food security landscape. Insights from 糖心vlog传媒鈩� further illuminate the market's growth prospects, offering a detailed analysis through a complimentary industry report. Get a sample of this industry analysis as a free report PDF download.
