Basmati Rice Market
Basmati Rice Market Analysis by White Rice and Brown Rice for Industrial and Household Use from 2022 to 2032
Analysis of Basmati Rice Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Basmati Rice Market Outlook (2022 to 2032)
Rice is rich in terms of carbs and necessarily creates the main fuel of the human body. Keep one energized and satisfied, carbohydrates play a crucial role. These are excellent sources of nutrients and fiber, manganese, and selenium. Due to its better flavor and aroma qualities compared to other long-grain rice varieties, basmati rice continues to be in high demand. Few other South Asian nations, like Bangladesh, Vietnam, and Indonesia, also grow basmati rice, though solely for domestic consumption. The majority of basmati rice is grown in India.
This rice is preferred more for its aroma and flavor which makes it the leading rice brand in both regional and international arcades. Varieties of hybrid basmati ranges are available in the market. In addition to the present famous categories white and brown are dominant in evolving consumer palates. Moreover, evolving recipes of rice are making it excel in demand further.
The market is anticipated to grow with a CAGR of 5.1% in the forecast period i.e., 2022 to 2032. The biggest market share is still held by raw basmati rice due to its superior nutritional and culinary qualities, low price, and mouth-watering aroma. Furthermore, while white basmati rice enjoys widespread global distribution, demand for brown basmati rice is gradually gaining pace in the basmati rice market as awareness of the health advantages of brown rice spreads.
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Market dynamics- Drivers of Demand
The global consumption of rice has seen an increase in the last decade ad it was 509.87 million metric tons in 2022 rising from 43718 million metric tons in 2008. Basmati rice contains fiber which is soluble adds bulk and helps in the removal of waste along the digestive tract. Furthermore, whole grains like Basmati lower the risk of a heart attack.
It also lowering blood sugar levels and cholesterol levels in the body. The high amount of vitamin B such as B1 is the major driver for demand for this product. It has 22% of the daily recommended quantity of intake. These vitamins are essential for brain health which is the prime health reason for basmati demand.
The strong supply chain is another leading factor for this market. This supply chain network is sufficiently facilitating exports and international shipping of products. The field has generated constant sources of fair income for farmers to consumers.
The majority of governments are also pushing the supply chain in basmati to increase market share and fulfill demand. The prominent market players continue to establish authenticity in the basmati rice supply chain which, in turn, enhances the brand image in both domestic and international markets.
Challenges faced by the market
While cost continues to stymie the widespread adoption rates of basmati rice, recent EU ban on the export of a few varieties of basmati rice that underwent the Tricyclazole fungicide treatment is expected to threaten the arcade while prominently hitting the Indian market.
According to the All India Rice Exporters Association (AIREA), basmati exporters in India are looking for alternative fungicides to treat rice to gain compliance with the stringent EU norms and establish future sustainability of the Indian market.
Climate change is anticipated to decline rice production; this necessarily denotes the need for adopting climate-resilient crop varieties in forecast years. Furthermore, irrigation practices and technologies are expected to gain momentum in the forecast duration.
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Regional Outlook
India leads the Asian region in terms of the volume of basmati rice produced each year owing to favorable agro-climatic conditions. India, Thailand, and Vietnam owe a significant share in the market due to the wide varieties of crops cultivated in these regions. China’s imports of basmati in 2022 amounted at 4.6 million metric tons. Moreover, China is anticipated to remain a major importer of basmati rice followed by the Philippines and Nigeria. The market is segmented on the basis of different types such as raw, steamed, and parboiled basmati rice.
Further, based on species the market is segmented into brown and white basmati rice. Regional segmentation of the basmati rice market includes North America, Latin America, Asia Pacific, MEA, and Europe. Asian countries like the Philippines owe a major share in rice production.
Segment wise insights
Application-wise, the basmati rice market is segmented into two applications food and cosmetics, and personal care segments. Rice makes a key staple in the regions like the Philippines. By sales channel, the basmati rice market finds major distribution through the traditional grocery store, HORECA, convenience stores, and other modern trade.
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Competitive landscape highlights only certain players
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Competitive landscape
Along with addressing the steady demand for raw basmati rice, the market players are focusing on introducing a wide variety of flavors in attractive packaging solutions. For instance, the Hain Celestial Group Inc. has recently featured its new product lines including a premium flavored ready-to-heat product line of basmati rice in Expo West 2018.
In addition, strategic acquisitions and expansions also remain prominent in the market. McCormick & Co. Inc.’s complete acquisition of Kohinoor in 2017 is one such example. Further, the liquidation of REI Agro Ltd. following the order from the National Company Law Tribunal (NCLT) and KRBL Ltd.’s plan to acquire the company are other strategic developments occurring in the global marketplace.
The key companies in this field are -
- LT Foods Ltd.
- Estraco Kft.
- East End Foods
- The Rice 'n Spice Int. Ltd.
- Amira Nature Foods Ltd.
- Mars Inc
Pricing strategies
The wave of competition is high in regions like Asian markets owing to major brands competing for the dominant position. Retail rice prices in the domestic market are discovered to be regionally integrated over time. However, reaching long-term equilibrium is a difficult and unpredictably long process.
It is discovered that vertical price transmission along the rice supply chain is asymmetric, suggesting that short-term deviations from competitive behavior occur when palay supplies are low. There are undeniably alarming indications of a shift away from competitive markets, necessitating additional investigation.
Key Segmentation of Basmati Rice Market
-
On the basis of Species :
- White
- Brown
- Others
-
On the basis of Sales Channel :
- Traditional
- Modern
- Retail
- HORECA
-
On the basis of Application :
- Industrial
- Household
-
On the basis of Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Species 6.2. Sales Channel 6.3. Application 7. Global Market Analysis and Forecast, By Species 7.1. White 7.2. Brown 7.3. Others 8. Global Market Analysis and Forecast, By Sales Channel 8.1. Traditional 8.2. Modern 8.3. Retail 8.4. HORECA 9. Global Market Analysis and Forecast, By Application 9.1. Industrial 9.2. Household 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific 10.6. East Asia 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Species, Sales Channel, and Application for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. LT Foods Ltd. 20.2. Estraco Kft. 20.3. East End Foods 20.4. The Rice'n Spice Int. Ltd. 20.5. Amira Nature Foods Ltd. 20.6. Mars Inc
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Species
Table 3: Global Market US$ Mn Forecast by Sales Channel
Table 4: Global Market US$ Mn Forecast by Application
Table 5: North America Market US$ Mn Forecast by Country
Table 6: North America Market US$ Mn Forecast by Species
Table 7: North America Market US$ Mn Forecast by Sales Channel
Table 8: North America Market US$ Mn Forecast by Application
Table 9: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Species
Table 11: Latin America Market US$ Mn Forecast by Sales Channel
Table 12: Latin America Market US$ Mn Forecast by Application
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Species
Table 15: Western Europe Market US$ Mn Forecast by Sales Channel
Table 16: Western Europe Market US$ Mn Forecast by Application
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Species
Table 19: Eastern Europe Market US$ Mn Forecast by Sales Channel
Table 20: Eastern Europe Market US$ Mn Forecast by Application
Table 21: Asia Pacific Market US$ Mn Forecast by Country
Table 22: Asia Pacific Market US$ Mn Forecast by Species
Table 23: Asia Pacific Market US$ Mn Forecast by Sales Channel
Table 24: Asia Pacific Market US$ Mn Forecast by Application
Table 25: East Asia Market US$ Mn Forecast by Country
Table 26: East Asia Market US$ Mn Forecast by Species
Table 27: East Asia Market US$ Mn Forecast by Sales Channel
Table 28: East Asia Market US$ Mn Forecast by Application
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Species
Table 31: MEA Market US$ Mn Forecast by Sales Channel
Table 32: MEA Market US$ Mn Forecast by Application
Table 33: Region Market US$ Mn Forecast by Country
Table 34: Region Market US$ Mn Forecast by Species
Table 35: Region Market US$ Mn Forecast by Sales Channel
Table 36: Region Market US$ Mn Forecast by Application
Table 37: North America Market US$ Mn Forecast by Country
Table 38: North America Market US$ Mn Forecast by Species
Table 39: North America Market US$ Mn Forecast by Sales Channel
Table 40: North America Market US$ Mn Forecast by Application
Table 41: Latin America Market US$ Mn Forecast by Country
Table 42: Latin America Market US$ Mn Forecast by Species
Table 43: Latin America Market US$ Mn Forecast by Sales Channel
Table 44: Latin America Market US$ Mn Forecast by Application
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 22: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 23: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 24: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 33: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 34: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 35: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 36: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 37: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 38: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 39: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 40: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 41: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Species
Figure 42: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 43: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 44: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the rate of growth anticipated for this market?
The global market is expected to rise with a CAGR of 5.1% in the forecast period 2022- 2032.
Which region is leading in the production of basmati across the globe?
Asia Pacific holds accounts for more than 90% of basmati rice production.
What is anticipated to give upward growth for the manufacturers in the forecast period?
With rising requirements for long-grain specialty rice along with a strong supply chain, opportunities in the global market are likely to increase.
Basmati Rice Market