Basmati Rice Market
Basmati Rice Market Forecasts to 2030 - Global Analysis By Type (Traditional Basmati, Pusa Basmati, Sugandha Basmati, Brown Basmati and Other Types), Grade, Packaging, Processing Method, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Basmati Rice Market is accounted for $20.67 billion in 2023 and is expected to reach $43.47 billion by 2030 growing at a CAGR of 11.3% during the forecast period. Basmati rice, renowned for its distinct aroma and long, slender grains, originates from the Indian subcontinent. This premium rice variety is prized for its delicate flavor, fluffy texture, and non-sticky consistency when cooked. Basmati rice is primarily cultivated in the fertile plains of northern India and Pakistan, where ideal climate conditions foster its growth. It has gained worldwide recognition as a staple ingredient in various cuisines, particularly in Indian, Pakistani, Middle Eastern, and Persian dishes. Its versatility makes it a favourite choice for pilafs, biryanis, and other rice-based recipes, appealing to culinary enthusiasts globally.
According to a report by Tridge, demand for basmati rice increased by 70% in 2020-21 in European Union. Moreover, India exported 231,930 metric tons of basmati rice to the EU from April 2020 to November 2020.
Market Dynamics:
Driver:
Growing demand for ethnic foods
The growing demand for ethnic foods, particularly in regions with diverse culinary preferences, acts as a significant driver for the basmati rice. As consumers increasingly seek authentic and traditional flavors, Basmati rice emerges as a preferred choice due to its aromatic qualities and versatility in various ethnic cuisines such as Indian, Middle Eastern, and Southeast Asian. This demand surge is fueled by a global appreciation for the distinct taste and cultural significance of Basmati rice, propelling its market growth and expanding its presence on international shelves and menus.
Restraint:
Fluctuations in prices
Price volatility can disrupt supply chains, making it difficult for producers to plan production and investment decisions effectively. High prices may deter consumers from purchasing Basmati rice, leading to a decline in demand, while low prices may affect the profitability of producers and discourage investment in cultivation. Moreover, price volatility can erode trust and stability in the market, making it less attractive for investors and hindering long-term growth prospects for the Basmati rice industry.
Opportunity:
Rising incomes and urbanization
As incomes increase, consumers often prioritize higher-quality and premium food options, with Basmati rice being a favoured choice due to its superior taste and perceived quality. Additionally, urbanization leads to lifestyle changes and a shift towards convenience foods, with Basmati rice offering a convenient yet nutritious option for urban dwellers. The combination of rising incomes and urbanization therefore results in increased consumption of Basmati rice, driving market growth globally.
Threat:
Trade barriers
Trade barriers in the basmati rice market include tariffs, quotas, and stringent regulatory requirements imposed by importing countries. Additionally, non-tariff barriers such as sanitary and phytosanitary standards pose challenges for exporters, requiring compliance with specific regulations. Such barriers restrict the volume of Basmati rice traded internationally, impacting market expansion and profitability for producers. These barriers hinder market growth by increasing the cost of exporting basmati rice and limiting market access for producers.
Covid-19 Impact
The covid-19 pandemic profoundly impacted the basmati rice market. Initially, disruptions in transportation and logistics hindered supply chains, causing temporary shortages and price fluctuations. However, as people cooked more at home due to lockdowns and restrictions on dining out, demand for basmati rice surged, leading to increased sales. Despite challenges, the basmati rice market demonstrated resilience, adapting to new circumstances and leveraging digital platforms for distribution, ensuring continued availability and stability amidst the pandemic's uncertainties.
The premium grade segment is expected to be the largest during the forecast period
The premium grade segment is estimated to have a lucrative growth. Premium grade basmati rice is renowned for its exceptional quality, characterized by long, slender grains and exquisite aroma. Sourced predominantly from the foothills of the Himalayas, where unique soil and climate conditions impart unparalleled flavor and texture, it stands out as a coveted variety among rice connoisseurs worldwide. With rigorous quality standards ensuring uniformity and purity, premium grade basmati rice consistently delivers a superior culinary experience, earning its place as a hallmark of excellence in the realm of rice varieties.
The raw segment is expected to have the highest CAGR during the forecast period
The raw segment is anticipated to witness the highest CAGR growth during the forecast period. Raw Basmati rice, renowned for its unique aroma and long, slender grains, is a staple ingredient in cuisines worldwide. Cultivated primarily in the Indian subcontinent, it's cherished for its delicate flavor and fluffy texture when cooked. Prized for its quality, it's often used in various dishes, from savoury pilafs to aromatic biryanis. With its global appeal, raw Basmati rice continues to be a preferred choice for discerning cooks seeking exceptional taste and texture in their culinary creations.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. Basmati rice, renowned for its aromatic fragrance and long grains, holds a significant position in the culinary landscape of the Asia-Pacific region. Indigenous to the Indian subcontinent, Basmati rice cultivation extends across countries like India, Pakistan, and Nepal, where it is a staple in numerous traditional dishes. Its popularity has transcended borders, becoming a favoured choice in various Asian cuisines and beyond. Basmati rice's cultural and economic importance continues to thrive, contributing to the rich culinary heritage of the Asia-Pacific region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. Basmati rice has gained popularity in Europe, cherished for its delicate aroma, long grains, and versatile culinary applications. It has become a staple ingredient in European kitchens, featured prominently in various dishes. European consumers appreciate Basmati rice for its versatility, nutritional benefits, and ability to complement a wide range of ingredients and flavours. It's readily available in supermarkets and specialty stores across Europe, catering to the diverse culinary preferences of individuals and families across the continent.
Key players in the market
Some of the key players profiled in the Basmati Rice Market include KRBL Limited, LT Foods Limited, Amira Nature Foods Limited, McCormick & Company, Kohinoor Foods Limited, Aeroplane Rice, Best Foods Limited, Tilda Basmati Rice, Hanif Rajput Rice Mills, Hanuman Rice Mills, Matco Foods Limited and Amar Singh Chawal Wala Company.
Key Developments:
In December 2023, KRBL owned India Gate Foods, a company that sells basmati rice, has launched a new campaign “Basmati Rice Se No Compromise"", nudging consumers to pick packaged basmati over loose basmati.
In June 2023, LT Foods’ Daawat Basmati Rice has launched a 360-degree multi-country digital campaign supported by a television, digital, radio campaign, an outdoor and an influencer both national and regional marketing initiative with on-ground events.
Types Covered:
• Traditional Basmati
• Pusa Basmati
• Sugandha Basmati
• Brown Basmati
• Other Types
Grades Covered:
• Premium Grade
• Grade A
• Grade B
• Grade C
• Other Grades
Packagings Covered:
• Bulk
• Retail
• Ready-to-Cook
• Other Packagings
Processing Methods Covered:
• Raw
• Parboiled
• Steamed
• Other Processing Methods
Distribution Channels Covered:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail
• Other Distribution Channels
End Users Covered:
• HoReCa (Hotels, Restaurants, Cafes)
• Food Processing Industries
• Household
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Basmati Rice Market, By Type
5.1 Introduction
5.2 Traditional Basmati
5.3 Pusa Basmati
5.4 Sugandha Basmati
5.5 Brown Basmati
5.6 Other Types
6 Global Basmati Rice Market, By Grade
6.1 Introduction
6.2 Premium Grade
6.3 Grade A
6.4 Grade B
6.5 Grade C
6.6 Other Grades
7 Global Basmati Rice Market, By Packaging
7.1 Introduction
7.2 Bulk
7.3 Retail
7.4 Ready-to-Cook
7.5 Other Packagings
8 Global Basmati Rice Market, By Processing Method
8.1 Introduction
8.2 Raw
8.3 Parboiled
8.4 Steamed
8.5 Other Processing Methods
9 Global Basmati Rice Market, By Distribution Channel
9.1 Introduction
9.2 Supermarkets/Hypermarkets
9.3 Convenience Stores
9.4 Online Retail
9.5 Other Distribution Channels
10 Global Basmati Rice Market, By End User
10.1 Introduction
10.2 HoReCa (Hotels, Restaurants, Cafes)
10.3 Food Processing Industries
10.4 Household
10.5 Other End Users
11 Global Basmati Rice Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 KRBL Limited
13.2 LT Foods Limited
13.3 Amira Nature Foods Limited
13.4 McCormick & Company
13.5 Kohinoor Foods Limited
13.6 Aeroplane Rice
13.7 Best Foods Limited
13.8 Tilda Basmati Rice
13.9 Hanif Rajput Rice Mills
13.10 Hanuman Rice Mills
13.11 Matco Foods Limited
13.12 Amar Singh Chawal Wala Company
List of Tables
1 Global Basmati Rice Market Outlook, By Region (2021-2030) ($MN)
2 Global Basmati Rice Market Outlook, By Type (2021-2030) ($MN)
3 Global Basmati Rice Market Outlook, By Traditional Basmati (2021-2030) ($MN)
4 Global Basmati Rice Market Outlook, By Pusa Basmati (2021-2030) ($MN)
5 Global Basmati Rice Market Outlook, By Sugandha Basmati (2021-2030) ($MN)
6 Global Basmati Rice Market Outlook, By Brown Basmati (2021-2030) ($MN)
7 Global Basmati Rice Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Basmati Rice Market Outlook, By Grade (2021-2030) ($MN)
9 Global Basmati Rice Market Outlook, By Premium Grade (2021-2030) ($MN)
10 Global Basmati Rice Market Outlook, By Grade A (2021-2030) ($MN)
11 Global Basmati Rice Market Outlook, By Grade B (2021-2030) ($MN)
12 Global Basmati Rice Market Outlook, By Grade C (2021-2030) ($MN)
13 Global Basmati Rice Market Outlook, By Other Grades (2021-2030) ($MN)
14 Global Basmati Rice Market Outlook, By Packaging (2021-2030) ($MN)
15 Global Basmati Rice Market Outlook, By Bulk (2021-2030) ($MN)
16 Global Basmati Rice Market Outlook, By Retail (2021-2030) ($MN)
17 Global Basmati Rice Market Outlook, By Ready-to-Cook (2021-2030) ($MN)
18 Global Basmati Rice Market Outlook, By Other Packagings (2021-2030) ($MN)
19 Global Basmati Rice Market Outlook, By Processing Method (2021-2030) ($MN)
20 Global Basmati Rice Market Outlook, By Raw (2021-2030) ($MN)
21 Global Basmati Rice Market Outlook, By Parboiled (2021-2030) ($MN)
22 Global Basmati Rice Market Outlook, By Steamed (2021-2030) ($MN)
23 Global Basmati Rice Market Outlook, By Other Processing Methods (2021-2030) ($MN)
24 Global Basmati Rice Market Outlook, By Distribution Channel (2021-2030) ($MN)
25 Global Basmati Rice Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
26 Global Basmati Rice Market Outlook, By Convenience Stores (2021-2030) ($MN)
27 Global Basmati Rice Market Outlook, By Online Retail (2021-2030) ($MN)
28 Global Basmati Rice Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
29 Global Basmati Rice Market Outlook, By End User (2021-2030) ($MN)
30 Global Basmati Rice Market Outlook, By HoReCa (Hotels, Restaurants, Cafes) (2021-2030) ($MN)
31 Global Basmati Rice Market Outlook, By Food Processing Industries (2021-2030) ($MN)
32 Global Basmati Rice Market Outlook, By Household (2021-2030) ($MN)
33 Global Basmati Rice Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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