Global Basmati Rice Market - WishTree Insight

Global Basmati Rice Market by Species (Brown and White), Application (Personal Care, Cosmetics, and Food & Beverages), Type (Steamed, Raw, and Parboiled), Distribution Channel (Online Store, Grocery Store, HORECA, and Modern Trade), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The global basmati rice market size was valued at USD 15.7 billion in 2021 and is expected to surpass USD 32.2 billion by 2031, expanding at a CAGR of 16.1 % during the forecast period, 2021–2031. The market's growth is attributed to superior quality, aroma, and taste.

INTRODUCTION

Basmati rice refers to long-grain, fluffy rice having high nutritional value and a rich aroma. The origin of rice is seen in Southern Asia. The rice is gluten-free, cholesterol-free, low in fat, the grains do not stick together, and rich in taste. The rice contains amino acids and folic acid. It is high in carbs and contains health-boosting agents. These qualities are driving consumer preference for the product. It is used to cook lavish dishes. It is considered a staple diet of many cultures. Due to being rich in nutritional value and having a lower fat content, the increasing health consciousness among consumers has led to t increase in demand. The increasing incorporation of basmati rice in the food and beverage industry for the preparation of various cuisines, salads, biryani, and pilaf is expected to spur the market. The growing population and increasing disposable income are likely to propel the market growth. The Asia Pacific region accounts for a significant market share owing to the large population base in the region. The growing availability of basmati rice in convenience stores, grocery shops, and supermarkets, owing to the rapid urbanization across developing countries is considered a key factor in the popularity of the basmati rice market. The thriving e-commerce industry is expected to bolster the sales of premium packaged basmati rice products.

Market Trends, Drivers, Restraints, and Opportunities

• The increasing export demand from middle east countries is propelling the global basmati rice market.
• The rising population is attributed to the growing demand for the basmati rice market.
• The rising disposable income is leading to an increase in the consumption of basmati rice thus creating lucrative growth in the global basmati rice market.
• The increasing inclination towards nutritional food products is propelling the demand for basmati rice.
• Increasing health consciousness in consumers, the rich nutritional value of the rice and lower fat content quality are expected to grow the market share.
• The decline in the cultivation of the crop due to changing climatic conditions has resulted in a price hike which is anticipated to hamper the global basmati rice market.

Scope of the Report

Market Segment Insights

The white basmati rice segment is projected to register a considerable CAGR

Based on species, the global basmati rice market is bifurcated into brown and white. The white basmati rice segment is expected to expand at a rapid pace during the forecast period owing to the availability of a large amount. However, the brown segment is anticipated to hold a key market share in the coming years owing to health benefits.

The food industry segment is expected to expand at a rapid pace

Based on application, the global basmati rice market is divided into personal care, cosmetics, and food & beverages. The food industry segment is expected to expand at a rapid pace during the forecast period. However, the personal care and cosmetic segment is anticipated to hold a steady share of the market in the coming years.

The raw segment is projected to register a considerable CAGR

On the basis of type, the global basmati rice market is segregated into steamed, raw, and parboiled. The raw segment is projected to register a considerable CAGR during the forecast period owing to its superior quality, aroma, and taste. The raw basmati rice segment is anticipated to hold a key share over the period with a CAGR of 15.3%. On the other hand, the steamed rice and parboiled rice segment is anticipated to account for a steady market share during the forecast period.

The grocery store segment is projected to register a considerable CAGR

On the basis of distribution channel, the global basmati rice market is segregated into online store, grocery store, HORECA, and modern trade. The grocery store segment is projected to register a considerable CAGR during the forecast period owing to easy availability of the product. On the other hand, the modern trade and online store segment is anticipated to account for a major market share during the forecast period.

The Asia Pacific region is anticipated to constitute a key market share

In terms of regions, the global basmati rice market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the Asia Pacific region except Japan is expected to constitute a key share of the market during the projected period. The high yield of paddy crop is a key factor to drive the market in the region. However, the market of the Middle East Africa and Europe is anticipated to expand at a rapid pace during the forecast period.

Competitive Landscape

Key players competing in the global basmati rice market are Hain Celestial Group Inc. (New York); The Rice n Spice Int. Ltd (U.K.); REI Agro Limited. (India); R.S.Mills (India); Kohinoor Foods Ltd (India); Sulson Overseas Pvt. Ltd. (India); Adani Wilmar Limited (India); Dunar Foods Ltd. (India).

FAQs

How much is the market worth?

The global basmati rice market size was valued at USD 15.7 billion in 2021 and is expected to surpass USD 32.2 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 16.1%

What are the key drivers of the market?

The market's growth is attributed to superior quality, aroma, and taste.

Mention which region is expected to hold the highest share of the global basmati rice market.

The Asia Pacific region is expected to hold the highest share of the global basmati rice market

Which segment holds the largest market share in the global basmati rice by 2031?

The raw rice segment holds the largest market share in the global basmati rice by 2031.