Rice Market Size, Share And Forecast To 2031


(MENAFN- Straits Research) Introduction

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

  • Ebro Foods
  • India Gate Basmati Rice
  • ITC Limited

    Recent Developments

    Recent Developments

    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.

    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

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  • Straits Research

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