(MENAFN- Straits Research) Moreover, half of the world's population relies on rice as their primary source of nutrition. It is a rich source of nutrients, vitamins, and minerals, as well as complex carbs. Red rice is a common variety of rice that is colored red by the presence of anthocyanin. Red rice possesses the highest nutritional value of all rice kinds. In the husk, grain parboiled rice is rice that has been partially boiled. Long-grain grain fragrant rice derives its perfume from the rice plant's natural production of aroma molecules. In recent years, the market growth has been propelled by the increasing demand for a carbohydrate-rich diet among the majority of the world's population, the increasing rice production and quality management by farming sectors in many countries, the increasing trends in rice exports, and the increasing government policies initiatives for the development and commercialization of major domestic rice production industries. In addition, large market expansions by prominent competitors such as ITC and Ebro are further factors driving the market growth. Rice length, kind, product type, application, distribution channel, and geography inform the Rice Industry Analysis.
Market Dynamics
The dietary shift of consumers towards a carbohydrate-based diet
People have been more health-conscious in recent years, and as a result, they are seeking out balanced meals with sufficient carbohydrates. In many high-income countries, a shift in calorie intake for carbohydrate meals, particularly rice, has been seen. Numerous cuisines are gaining popularity, with restaurants adopting the trend of rice dishes. This is expected to drive market expansion in the years 2022-2030.
Declining productivity in intensive rice production systems
Several long-term tests on double-crop and triple-crop irrigated rice systems have recorded production losses. This is even though national rice yields continue to rise, albeit at a slower rate, in the majority of Asian nations. In recent years, the rate of production has decreased as a result of deteriorating nitrogen management and soil nitrogen availability. Consequently, it is predicted to impede market expansion throughout the projection period of 2022-2030.
Increasing trends of rice exports by Asian countries
Eleven Asian nations account for around 87 percent of the global rice supply. Eight of these countries account for around 35 percent of worldwide rice exports. Rice production in Asia, particularly in India and China, has a substantial impact on global food security. This is anticipated to generate chances for rice demand and, as a result, contribute to market expansion during the forecast period of 2022-2030.
Regional analysis of the global rice market
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific dominated the geographic sector of the Rice Market
in 2019 with a share of over 41.7%, followed by Europe. In the recent two decades, the market has exploded due to the suitable climate and geography for rice farming, the increasing adoption of low-calorie and high-fiber diets, and the presence of important market participants in the region. Due to the increasing consumption of rice and related recipes by the urban population, the expansion in farming and agricultural activities, and the recent entry of important market participants, Europe ranked second in the geography segment share of the market.
During the projected period of 2022 to 2030, Asia-Pacific is anticipated to maintain the highest CAGR growth rate. This is a result of increased rice exports by developing nations such as India and China, favorable government programs for rice farming, and a rise in the population's disposable income.
Key Highlights
The global rice market was valued at $281.23 billion in 2021 and is projected to reach $ 347.22 billion by 2030, registering a CAGR of 2.37% from 2022 to 2030.
Long-grain held the largest share in the rice length segment of the Rice Market in 2019 and is estimated to grow at a CAGR of 3.24% during the forecast period 2020-2030.
Super Markets held the major share in the distribution channel segment of Rice Market in 2019.
Asia-Pacific dominates the geography segment of the Rice Market with a share of more than 41.7% in 2019 and is expected to do the same during the forecast period.
Competitive players in the global rice market
Ebro Foods
India Gate Basmati Rice
ITC Limited
Recent Developments by key players
In December 2018, The Indian Rice Market was already rather competitive when ITC introduced Sona Masoori, a superior kind of non-basmati rice.
In January 2017, Ebro Foods, S.A. merged with its rice and pasta companies in the United States, Riviana Foods Inc., American Rice, Inc., and New World Pasta Company. As a result of this merger, Ebro Foods, S.A. became the largest manufacturer and marketer of rice products in the United States, while also becoming the second-largest producer and distributor of pasta products.
In May 2020, Amid the shutdown, India Gate Basmati Rice worked with Zomato and Swiggy to transport products directly to customers' homes.
The global rice market segmentation
By Rice Length
Long grain
Medium grain
Short grain
By Type
Red rice
Arborio rice
Black rice
Grain fragrance rice
Brown rice
Rosematta rice
Grain parboiled rice
Sushi rice
Others
By Product Type
Regular
Aromatic
By Application
Food
Industry
Others
By Distribution Channel
Roadside Stores
Municipal Corporation Markets
Convenience Stores
Specialty store
Department store
Supermarket
Hypermarket
E-commerce
By Geography
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
Rest of the World
The Middle East
Africa
South America
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