An analysis by Reportlinker predicts that the fortified rice market in China will reach a market size of $6.9 billion by 2030.

What does the trend look like? This projection implies a compound annual growth rate of 9.7% from 2022 to 2030.

China is the world’s largest importer of rice, with external purchases of $1.408 billion in 2023.

These imports, however, are lower than the corresponding imports in the previous two years. In 2021, they totaled US$2,187 million, and the following year, US$2,623 million.

Rice is the second most important crop in the world after wheat.

Fortified rice

The world’s largest rice importers also include Iran, the United States, Saudi Arabia, the Philippines and Iraq.

Fortified rice includes nutrients such as vitamins and minerals, for example zinc, iron, folic acid, B-complex vitamins and vitamin A.

Chinese rice exports have been estimated at around US$1 billion.

Consumption

Given that China is the world’s largest producer and consumer of rice, accounting for 30% of the world’s total rice production and consumption, this partnership presents a significant growth opportunity for companies. 

According to Nisun, about 65% of China’s population relies on rice as a staple food. 

In 2021, China produced approximately 214.4 million metric tons of rice, with a harvested area of 30.4 million, according to the Food and Agriculture Organization (FAO). 

Rice is also the staple food in parts of Africa and Latin America.

Rice is the staple food for more than half of the world’s population, especially in some of the world’s most populous countries, and an important ingredient in many processed foods and beverages.

Asia accounts for approximately 90% of the world’s rice production and China is the world’s number one rice producer.

In addition, rice is the basis for the Japanese alcoholic beverage sake.