The new report by Expert Market Research titled, ‘Global Basmati Rice Market Share, Size, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global basmati rice market, assessing the market based on its segments like types, pack sizes, country of origin, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Volume (2022): USD 6.09 billion
- Forecast CAGR (2023-2028): 2.1%
- Forecast Market Size (2028):USD 6.87 billion
The increasing incorporation of basmati rice in the food and beverage industry for the preparation of various cuisines, salads, and pilafs, among others, is driving the market growth. Basmati rice are high in carbs and contains health boosting agents, such as germ, bran, and endosperm. Hence, the increasing inclination towards nutritional food product is propelling the demand for basmati rice.
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Over the forecast period, the growing rice eating population and increasing disposable income are likely to propel the market growth. The Asia Pacific region accounts for a significant share in the market owing to the large population base in the region. The increasing rice consumption in Indian states, such as Bihar and Assam, is anticipated to provide impetus to the market growth in the forecast period.
Basmati Rice Industry Definition and Major Segments
Basmati rice refers to long-grain, fluffy, and dry variety of rice, which has a nutty flavour and popcorn-like aroma. After cooking, rice does not stick to each other. The origin of Basmati rice is from Southern Asia. This type of rice is gluten-free, cholesterol-free, and low in fat. Moreover, the rice contains amino acid, and folic acid.
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On the basis of type, the market can be segmented into:
The market can be broadly categorised based on pack size into:
- Retail Packaging
- Institutional Packaging
Based on the country of origin, the market can be divided into:
The regional markets for basmati rice include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Basmati Rice Market Trends
The key trends in the basmati rice market include the growing availability of basmati rice in convenience stores, grocery shops, and supermarkets, owing to the rapid urbanisation across the developing countries. The thriving e-commerce industry is likely to bolster the sales of premium packaged basmati rice products, which is anticipated to be a crucial trend in the market.
Furthermore, the increasing incorporation of basmati rice-based dishes, such as fried rice and biryani across hotels, restaurants, and pubs, is likely to be another major trend in the market. Furthermore, the increasing popularity of basmati rice as a low-fat alternative is anticipated to aid the market.
Key Market Players
The major players in the market are L.T. Food, KRBL Limited, Supple Tek industries Pvt Ltd., Kohinoor Foods Ltd., Adani Wilmar Limited, Dunar Foods Ltd., Amira Nature Foods Ltd., Sulson Overseas Pvt. Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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