The global rice market amounted to USD 293.77 billion in 2021. It is expected to grow at a CAGR of 2.35% between 2023-2032.
The global food and restaurant industry is growing, boosting the market growth. More than half of the world’s population eats rice as a staple food. The Asia Pacific is the region with the highest market share. Developing market demand is driven by attractive packaging and continual improvement in rice mill machinery.
To supplement COVID-19’s growth, there is a growing demand for healthy foods.
Rice was the primary food choice during the COVID-19 outbreak. Consumers are looking for products that improve their immune systems and health. The pandemic has significantly increased packaged tan rice sales due to increased demand for healthier products sold through retail channels. There was a supply disruption in the beginning due to transportation restrictions and lockdowns throughout the country. As more supermarkets, grocery stores, and e-commerce outlets were opened, brown-colored rice became increasingly popular. Riviana Foods Limited and KRBL Limited purchased ready-to-cook, ready-to-eat tan products to increase sales during the lockdown. This boosts sales because consumers are more interested in making their own tan-colored rice. Due to growing awareness about the health benefits of this type of rice, the market will continue to grow.
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Consumers are increasingly interested in prebiotics and their benefits for gut health, which is driving the market growth.
Foods high in fiber are increasingly sought after by the world. This improves gut health and reduces chronic conditions. It’s high in vitamins and minerals like vitamins B1, B3, B6, and B6, as well as phosphorus, manganese, and iron. It contains four times as much insoluble fiber as white rice. Top manufacturers invest in rice products to capitalize on the rising demand for high-fiber functional foods.
This rice type is linked to weight loss because it contains fiber, which helps regulate blood glucose levels. To help people lose weight quicker, it is becoming more popular in retail channels. Organic tan-colored rice will be in demand due to the growing popularity of organic food and the assumption that they are safer. The rising popularity of convenience foods will stimulate future demand for instant brown rice.
Market dynamics will be affected by rice price fluctuations.
Brown rice’s price is heavily dependent upon white rice. Market development is slowed by volatility in rice prices. Rice is the second most consumed grain in the world. Rice is a staple food in many countries. It is most often grown in South Asian and Asian countries and is traded worldwide. Over the past decade, rice imports from Asia, Europe, and North America have increased significantly. It is also very volatile, and the weather can affect its price.
Market Key Trends:
The report examines the major factors that have influenced growth and development in the Rice market. Global market research reports give detailed analyses of market demand factors and market development restraining factors.
This report discusses all market trends that significantly impact the market’s growth. The report also discusses a large variety of qualitative factors and measurements. These include the operating risks and major obstacles facing industry players.
- Farmers’ Rice, a grower-owned marketing cooperative for rice, has agreed to buy Woodland, California, U.S.A., a rice mill Bunge Ltd. owns. This acquisition was made to increase the production of brown-colored rice.
- Riviana Foods Inc. has made USD 26 million investments to increase its production of Minute brand microwaveable rice products. These products also include organic brown-colored rice.
- Kohinoor Foods Ltd.
- Adani Wilmar Limited
- LT Foods
- KRBL Limited
- Aeroplane Rice Ltd.
- Sridhar Agro Product P Ltd
- Gautam General Trading LLC
- Sri Sainath Industry Pvt. Ltd
- Shriram Food Industry Pvt. Ltd.
- Aashirvad International
- Other key players
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- How has the rice market performed so far? And how will it perform over the next few years?
- What are the main regional markets for the rice industry?
- What impact has COVID-19 had upon the rice market?
- What are the major driving forces and barriers to the rice market?
- How big is the Rice market in terms of size?
- What are the major players’ structures and roles in the global Rice market?
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