Bangladesh Rice Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Bangladesh Rice Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Bangladesh rice market is projected to reach a value of 33 million USD by 2025 registering a CAGR of 4.1% during the forecast period.

• Rice being the staple food of Bangladesh population, it has a huge demand in the country. This leads to the increased imports of the country from other rice producing countries.
• India, China and Pakisthan are the major exporters to Bangladesh. The liberalisation of import duties by the government will give a clear picture of the demand-supply gap in the country.
• The Bangladesh market is dominated by domestic players, they are supported by strong distribution channels such as local retail stores, supermarkets etc.

According to the World Bank survey Bangladesh population in 2016 is 162.95 million growing at a rate of 1.09%. The rapidly growing population is the major factor driving the market. The consumption rate of rice in Bangladesh is also increasing year by year. The consumption rate in 2016 was 36.3 million metric ton and is expected to reach 39.7 million metric ton. The specialty rice segment is also increasing at a better pace owing to the increasing disposable income and living standards of the population. The disposible income of the population is also increasing year to year. The per capita disposable income of Bangladesh population in 2016 was 697.73 USD.

Bangladesh rice market is operated by both government and private sector players. The government is bringing various policies and interventions inorder to achieve the self sufficinecy. Regular rice 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 non‐monetized (targeted) channels (such as Food‐for‐Work, the Vulnerable Groups Development Program, and a number of smaller programs).For regular consumption, local varieties, such as Kataribhog, Kataktara, Banshful, Bau-pagal, and Nizershail are preferred.

The Bangladesh rice market is fragmented.Among types, regular rice is the most preferred by consumers, when compared to the aromatic type of rice. Domestic players hold major share in 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 beverges, Ovijat Foods, Agro organica, ovijat Foods among others.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support