(MENAFN- IMARC Group)
IMARC Group's report titled” GCC Basmati Rice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, offers a comprehensive analysis of the industry, which comprises insights on the GCC basmati rice market growth . The market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 1.2% during 2023-2028. Factors Affecting the Growth of the GCC Basmati Rice Industry:
Cultural significance and preference:
Basmati rice holds immense cultural significance in the GCC region. The long-grain aromatic rice variety is deeply ingrained in the culinary traditions of the Middle East. It is a staple in various dishes, especially biryanis and pilafs, which are widely consumed across the region. The unique aroma, texture, and taste of basmati rice make it a preferred choice for traditional and festive meals. The cultural attachment to basmati rice drives the demand in the market, with consumers often considering it as a premium and authentic option for their meals.
Health and Nutritional Benefits:
The increasing awareness of health and nutrition is a significant driver in the GCC basmati rice market. Basmati rice is known for its low glycemic index, making it a suitable choice for individuals with diabetes. Additionally, it is gluten-free and contains essential nutrients such as vitamins, minerals, and fiber. As health-conscious consumers seek nutritious food options, basmati rice gained popularity for its perceived health benefits. The market responds to this trend with an emphasis on promoting the nutritional aspects of basmati rice, contributing to its sustained demand in the GCC countries.
Rising Disposable Income and Urbanization:
Economic factors play a pivotal role in shaping the basmati rice market in the GCC region. The rising disposable income among the population contributes to increased spending on premium food products, including basmati rice. As urbanization progresses in the GCC countries, there is a shift in lifestyle and dietary preferences, with an inclination towards convenience and high-quality food items. Basmati rice, with its premium positioning and association with gourmet cooking, fits well into this evolving consumer landscape. Besides this, diversification of product offerings, use of convenient packaging, and implementation of marketing strategies that align with the preferences of an urban and affluent consumer base are propelling the market forward.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/gcc-basmati-rice-market/requestsample GCC Basmati Rice Market Report Segmentation:
By Type of Rice:
Based on the type of rice, the market is segmented into basmati and non-basmati, and parboiled and raw.
By Pack Size:
Retail Packaging Institutional Packaging
On the basis of pack size, the market has been bifurcated into retail and institutional packaging.
By Country of Origin:
Based on the country of origin, the market is divided into India, Pakistan and others.
Saudi Arabia UAE Kuwait Oman Qatar Bahrain
Saudi Arabia emerged as the largest market for basmati rice in the GCC region due to its strong cultural affinity for the aromatic rice variety, making it a staple in traditional and festive culinary practices. GCC Basmati Rice Market Trends:
The consumers' growing awareness of the environmental impact of food production and the increasing emphasis on sustainability and eco-friendly practices in agriculture has led to a preference for basmati rice, known for its relatively lower water requirements and cultivation efficiency, thereby bolstering the market growth. In addition to this, the surge in international collaborations and trade agreements, facilitating smoother cross-border transactions resulting in increased accessibility of basmati rice is aiding in market expansion. Furthermore, the growing trend of fusion cuisine incorporating basmati rice in innovative dishes, with chefs and home cooks experimenting with diverse culinary styles is providing an impetus to the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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