Rice Market
Rice Market Forecasts to 2030 - Global Analysis By Product Type (Sushi Rice, Glutinous Rice, Arborio Rice, Red cargo Rice, Rosematta Rice, Wild Rice, Parboiled Rice, Bomba Rice and Other Product Types), Color, Aroma, Length, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Rice Market is accounted for $313.2 billion in 2023 and is expected to reach $423.4 billion by 2030 growing at a CAGR of 4.4% during the forecast period. Rice is a staple food for a large portion of the world's population, particularly in Asia. The rice market is influenced by various factors, including production, consumption, trade policies, weather conditions, and economic. Sustainable farming practices and technological innovations have been introduced to address environmental concerns and improve yields.
According to the Rice Exporters Association, Indian rice exports touched 20 million tons in 2021, including 16 million tons of non-Basmati rice.
Market Dynamics:
Driver:
Consumer preferences for specific rice varieties
Popular choices like basmati or jasmine rice create distinct market segments, impacting production, trade, and pricing. Agricultural practices adapt to meet demand, affecting global trade patterns. Premium varieties often command higher prices, influencing economic opportunities for producers. Continuous innovation and marketing efforts cater to evolving preferences, while cultural influences contribute to the globalization of specific rice types. Navigating these preferences is crucial for stakeholders to ensure a resilient and responsive rice market that aligns with the diverse tastes of consumers worldwide.
Restraint:
Limited availability of arable land and water resources
Rice cultivation requires substantial water, and competition for water resources intensifies amid growing urbanization and industrial demands. As arable land diminishes, there is increased pressure to balance food production with environmental conservation. This scarcity impacts rice yields, production costs, and sustainability. However, the constrained resources underscore the need for innovative solutions and sustainable practices to ensure the resilience of the global rice market.
Opportunity:
Innovations in rice cultivation technologies
Advanced techniques, including precision farming, hybrid varieties, and mechanization, enhance productivity and resource efficiency. These innovations contribute to increased yields, reduced environmental impact, and improved resilience against climate challenges. The adoption of technology-driven practices not only benefits farmers but also strengthens global food security. Moreover, the efficiency gains positively influence market dynamics, ensuring a stable supply of rice and addressing the growing demand.
Threat:
Competition with other staple grains
Changing consumer preferences and dietary patterns impact market share, challenging rice's traditional dominance. The versatile nature of alternative grains poses a threat to rice cultivation space. Additionally, global demand for diverse grains shifts based on nutritional trends. Intense competition affects pricing and market equilibrium, compelling stakeholders in the rice industry to adapt strategies to maintain competitiveness hamper the market.
Covid-19 Impact
The COVID-19 pandemic has left an indelible mark on global society, profoundly impacting various sectors. The economic ramifications have been substantial, with widespread disruptions to businesses, supply chains, and employment. While vaccination efforts have provided a ray of hope, the pandemic's long-term effects on economies, mental health, and social norms underscore the need for continued global cooperation and adaptive strategies to navigate an evolving post-COVID landscape.
The sushi rice segment is expected to be the largest during the forecast period
The sushi rice segment is estimated to have a lucrative growth, because the demand for specific sushi rice varieties, characterized by their stickiness, texture, and ability to absorb flavors, has surged with the growing popularity of sushi worldwide. This trend has not only influenced consumer preferences but has also driven changes in rice cultivation practices. Producers are now adapting to cultivate short-grain and medium-grain rice varieties that meet the unique requirements of sushi preparation are encouraging the rice market growth.
The basmati rice segment is expected to have the highest CAGR during the forecast period
The basmati rice segment is anticipated to witness the highest CAGR growth during the forecast period, basmati rice, renowned for its aromatic fragrance and long, slender grains, has a profound impact on the global rice market. Primarily cultivated in the foothills of the Himalayas in countries like India and Pakistan, Basmati's unique qualities contribute to its premium status. Its popularity has surged internationally, influencing market dynamics and trade patterns. As Basmati continues to carve a niche in the global market, its influence shapes trade, agricultural practices, and consumer preferences, creating a distinctive footprint in the broader rice market landscape.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period as it is dominated by major producers such as China, India, Indonesia, Thailand, and Vietnam, the market encompasses diverse varieties including long-grain, medium-grain, and aromatic basmati rice. With rice being a dietary staple for a significant portion of the population, market dynamics are influenced by factors like climate conditions, government policies, and evolving consumer preferences. The Asia Pacific rice market reflects the intricate interplay of tradition, innovation, and economic considerations, shaping the broader agricultural landscape in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, as particularly in states like Arkansas, California, Louisiana, Mississippi, Missouri, and Texas. The market is influenced by factors such as climate conditions, government policies, and technological advancements in farming practices. Imports from countries like Thailand and India contribute to the market's variety, catering to the multicultural palate of North America. Sustainability initiatives and organic rice farming are gaining traction as consumers become more conscious of their food choices are driving the growth of the market in this region.
Key players in the market
Some of the key players in the Rice Market include V.A.P Foods Ltd, General Mills, McCormick & Company, Rice Select, Ebro Foods, Riceland Foods Inc., Carolina Plantation Rice, Planet Rice, ITC, ConAgra Foods, Inc, KRBL Ltd, Uncle Ben's Brown Rice, LT Foods Ltd., Kohinoor Foods Ltd., Adani Wilmar Limited, Aeroplane Rice Ltd., Shriram Food Industry Pvt. Ltd., Aashirvad International, Sri Sainath Industry Pvt. Ltd. And Gautam General Trading LLC
Key Developments:
In November 2023, Ebro Foods has been awarded the Lean & Green’s 1st Star, for achieving a 20% reduction in its logistic processes emissions. The award ceremony took place during the VII Sustainable Logistics Day promoted by AECOC. Achieving this first star is an important
In November 2023, Reddi-wip, the iconic real cream whipped topping that's a dessert staple during the holidays and year-round, has partnered with Ugly Christmas Sweater on a new, limited-edition human and pet holiday sweater collection.
Product Types Covered:
• Sushi Rice
• Glutinous Rice
• Arborio Rice
• Red cargo Rice
• Rosematta Rice
• Wild Rice
• Parboiled Rice
• Bomba Rice
• Other Product Types
Colors Covered:
• Brown Rice
• Red Rice
• Black Rice
• White Rice
Aromas Covered:
• Jasmine Rice
• Basmati Rice
Lengths Covered:
• Long Grain
• Medium Grain
• Short Grain
Distribution Channels Covered:
• Retail stores
• Online
• Specialty store
• Supermarket
• Hypermarket
• Department store
• Other Distribution Channels
End Users Covered:
• Residential
• Commercial
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 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Rice Market, By Product Type
5.1 Introduction
5.2 Sushi Rice
5.3 Glutinous Rice
5.4 Arborio Rice
5.5 Red cargo Rice
5.6 Rosematta Rice
5.7 Wild Rice
5.8 Parboiled Rice
5.9 Bomba Rice
5.10 Other Product Types
6 Global Rice Market, By Color
6.1 Introduction
6.2 Brown Rice
6.3 Red Rice
6.4 Black Rice
6.5 White Rice
7 Global Rice Market, By Aroma
7.1 Introduction
7.2 Jasmine Rice
7.3 Basmati Rice
8 Global Rice Market, By Length
8.1 Introduction
8.2 Long Grain
8.3 Medium Grain
8.4 Short Grain
9 Global Rice Market, By Distribution Channel
9.1 Introduction
9.2 Retail stores
9.3 Online
9.4 Specialty store
9.5 Supermarket
9.6 Hypermarket
9.9 Department store
9.8 Other Distribution Channels
10 Global Rice Market, By End User
10.1 Introduction
10.2 Residential
10.3 Commercial
11 Global 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 V.A.P Foods Ltd
13.2 General Mills
13.3 McCormick & Company
13.4 Rice Select
13.5 Ebro Foods
13.6 Riceland Foods Inc.
13.7 Carolina Plantation Rice
13.8 Planet Rice
13.9 ITC
13.10 ConAgra Foods, Inc
13.11 KRBL Ltd
13.12 Uncle Ben's Brown Rice
13.13 LT Foods Ltd.
13.14 Kohinoor Foods Ltd.
13.15 Adani Wilmar Limited
13.16 Aeroplane Rice Ltd.
13.17 Shriram Food Industry Pvt. Ltd.
13.18 Aashirvad International
13.19 Sri Sainath Industry Pvt. Ltd.
13.20 Gautam General Trading LLC
List of Tables
1 Global Rice Market Outlook, By Region (2021-2030) ($MN)
2 Global Rice Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Rice Market Outlook, By Sushi Rice (2021-2030) ($MN)
4 Global Rice Market Outlook, By Glutinous Rice (2021-2030) ($MN)
5 Global Rice Market Outlook, By Arborio Rice (2021-2030) ($MN)
6 Global Rice Market Outlook, By Red cargo Rice (2021-2030) ($MN)
7 Global Rice Market Outlook, By Rosematta Rice (2021-2030) ($MN)
8 Global Rice Market Outlook, By Wild Rice (2021-2030) ($MN)
9 Global Rice Market Outlook, By Parboiled Rice (2021-2030) ($MN)
10 Global Rice Market Outlook, By Bomba Rice (2021-2030) ($MN)
11 Global Rice Market Outlook, By Other Product Types (2021-2030) ($MN)
12 Global Rice Market Outlook, By Color (2021-2030) ($MN)
13 Global Rice Market Outlook, By Brown Rice (2021-2030) ($MN)
14 Global Rice Market Outlook, By Red Rice (2021-2030) ($MN)
15 Global Rice Market Outlook, By Black Rice (2021-2030) ($MN)
16 Global Rice Market Outlook, By White Rice (2021-2030) ($MN)
17 Global Rice Market Outlook, By Aroma (2021-2030) ($MN)
18 Global Rice Market Outlook, By Jasmine Rice (2021-2030) ($MN)
19 Global Rice Market Outlook, By Basmati Rice (2021-2030) ($MN)
20 Global Rice Market Outlook, By Length (2021-2030) ($MN)
21 Global Rice Market Outlook, By Long Grain (2021-2030) ($MN)
22 Global Rice Market Outlook, By Medium Grain (2021-2030) ($MN)
23 Global Rice Market Outlook, By Short Grain (2021-2030) ($MN)
24 Global Rice Market Outlook, By Distribution Channel (2021-2030) ($MN)
25 Global Rice Market Outlook, By Retail stores (2021-2030) ($MN)
26 Global Rice Market Outlook, By Online (2021-2030) ($MN)
27 Global Rice Market Outlook, By Specialty store (2021-2030) ($MN)
28 Global Rice Market Outlook, By Supermarket (2021-2030) ($MN)
29 Global Rice Market Outlook, By Hypermarket (2021-2030) ($MN)
30 Global Rice Market Outlook, By Department store (2021-2030) ($MN)
31 Global Rice Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
32 Global Rice Market Outlook, By End User (2021-2030) ($MN)
33 Global Rice Market Outlook, By Residential (2021-2030) ($MN)
34 Global Rice Market Outlook, By Commercial (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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