Market Size of Mexico Rice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
Mexico Rice Market Analysis
The Mexican rice market is projected to register a CAGR of 4.5% over the forecast period.
- The product demand in the country is increasing as rice mill machinery and attractive packaging continue to improve. Production of milled rice in Mexico reached 0.21 million metric tons in 2021, from 0.20 million metric tons in 2020. The growing demand for specialty rice varieties has increased the trade for long-grain rice, which in turn is driving market growth.
- In Mexico, the national demand for rice exceeds four times the consumption of the grain produced internally, which has caused growing volumes of imported rice. Long and thin-type rice is the one with the highest consumption. However, consumers value domestic rice more than imported rice. Per capita rice consumption in Mexico was recorded as 8.75 kgs, with a total consumption of 0.98 million metric tons, in 2021. One of the aspects that have defined the preference of consumers is the culinary quality of the rice, and as per industrialists, the industrial quality of the grain is a parameter to be taken into account. The United States is the major import partner for Mexico, importing more than 60% of its total import quantity in 2021. Other suppliers include neighboring South American countries.
Mexico Rice Industry Segmentation
Rice is the starchy seeds or grain of annual marsh grass, Oryza sativa, cultivated in warm climates and used for food.
The Mexican rice market is segmented by production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis.
The report offers the market size and forecast in terms of value in USD million and volume in metric ton for the above-mentioned segments.
| Mexico | |
| Production Analysis | |
| Consumption Analysis and Market Value | |
| Import Market Analysis (Volume and Value) | |
| Export Market Analysis (Volume and Value) | |
| Price Trend Analysis |
Mexico Rice Market Size Summary
The Mexican rice market is experiencing a steady growth trajectory, driven by increasing demand for specialty rice varieties and improvements in rice mill machinery and packaging. Despite the country's low domestic production, the demand for rice significantly exceeds local supply, leading to substantial imports, primarily from the United States and neighboring South American countries. The preference for domestic rice over imported varieties is notable, with consumers valuing its culinary quality. The Mexican government, through the Mexican Rice Council, is actively supporting rice production by providing subsidies and implementing import duties to encourage domestic cultivation. This support, coupled with favorable weather conditions and the adoption of new cultivation technologies, is expected to bolster rice production in key states such as Sinaloa, Campeche, and Veracruz.
The market dynamics are further influenced by international trade agreements like the US-Mexico-Canada Agreement (USMCA), which ensures stable trade relations and supports U.S. rice exports to Mexico. The Mexican government's strategic decisions, such as temporarily exempting import taxes on South American rice, aim to mitigate food price inflation and address domestic production challenges. As rice consumption in Mexico is projected to rise, the country remains a significant importer, with the United States being the dominant supplier. This ongoing demand and supportive policies are likely to sustain the growth of the Mexican rice market over the forecast period.
Mexico Rice Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Mexico
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2.1.1 Production Analysis
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2.1.2 Consumption Analysis and Market Value
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2.1.3 Import Market Analysis (Volume and Value)
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2.1.4 Export Market Analysis (Volume and Value)
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2.1.5 Price Trend Analysis
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Mexico Rice Market Size FAQs
What is the current Mexico Rice Market size?
The Mexico Rice Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
What years does this Mexico Rice Market cover?
The report covers the Mexico Rice Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Rice Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
