Basmati Rice Market Outlook
According to the latest report by Expert Market Research (EMR), the global basmati rice market size attained a value of USD 6.22 billion in 2023. Aided by the increasing demand for premium rice varieties and the growing applications of basmati rice in various culinary traditions, the market is projected to further grow at a CAGR of 2.0% between 2024 and 2032 to reach a value of USD 7.47 billion by 2032.
Basmati rice, known for its unique aroma, long grain, and exceptional taste, is a premium variety of rice primarily grown in the Indian subcontinent. It is widely used in the preparation of a variety of traditional and modern dishes, including biryanis, pilafs, and side dishes. Basmati rice is renowned for its low glycemic index and rich nutrient profile, making it a preferred choice among health-conscious consumers. Apart from its culinary applications, basmati rice also possesses various health benefits, including aiding in digestion and providing essential nutrients like iron, vitamins, and fiber.
The increasing consumer preference for high-quality and aromatic rice varieties is driving the global basmati rice market growth. With the growing awareness of the health benefits associated with consuming basmati rice, there has been a significant shift towards premium rice varieties, leading to a surge in demand for basmati rice products. Additionally, the rising trend of gourmet cooking and the popularity of international cuisines have further contributed to the increasing demand for basmati rice, as it is a staple ingredient in many exotic dishes.
The expanding applications of basmati rice in various culinary traditions also play a significant role in propelling the market. In the food service industry, basmati rice is extensively used in restaurants, hotels, and catering services due to its superior quality and distinct flavor. The retail sector has also witnessed a substantial increase in the availability of basmati rice products, with supermarkets and hypermarkets offering a wide variety of options to cater to diverse consumer preferences.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/basmati-rice-market/requestsample
Market Drivers
One of the primary drivers of the global basmati rice market is the increasing demand for premium rice varieties. Consumers are becoming more discerning about the quality of rice they consume, and basmati rice, with its distinctive aroma and taste, is highly favored. This preference for premium rice is particularly strong in regions with a high Asian and Middle Eastern population, where basmati rice is a staple.
The rising awareness of the health benefits of basmati rice is another significant driver. Basmati rice is known for its low glycemic index, which helps in managing blood sugar levels, making it an ideal choice for diabetics and health-conscious individuals. Additionally, its rich nutrient profile, including essential vitamins and minerals, has made it a popular choice among consumers looking to improve their dietary intake.
The growing trend of international cuisine and gourmet cooking has also boosted the demand for basmati rice. With the increasing popularity of dishes like biryani, pilaf, and other rice-based delicacies, the demand for basmati rice has surged. This trend is further supported by the proliferation of food channels, cooking shows, and social media platforms that showcase recipes using basmati rice, encouraging consumers to try these dishes at home.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/basmati-rice-market
Basmati Rice Market Segmentation
The market can be divided based on type, nature, country of origin, end user, distribution channel, and region.
Market Breakup by Type
- Parboiled
- Raw
Market Breakup by Nature
- White
- Brown
- Others
Market Breakup by Country of Origin
- India
- Pakistan
- Others
Market Breakup by End User
- Retail
- HoReCa and Institutional
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Store
- Speciality Store
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global basmati rice market. Some of the major players explored in the report by Expert Market Research are as follows:
- KRBL Limited
- Kohinoor Foods Limited
- Adani Wilmar Limited
- Dunar Foods Ltd.
- Ebro Foods, S.A.
- Lundberg Family Farms
- New Bharat Group
- Supple Tek Pvt Ltd
- LT Foods Limited
- HAS Rice Pakistan
- Latif Rice Mills Pvt. Ltd.
- A.I.Z Import & Export
- Others
Market Challenges
Despite the robust growth prospects, the global basmati rice market faces several challenges. One of the primary challenges is the volatility in rice prices due to fluctuations in production and supply. Factors such as adverse weather conditions, pest infestations, and changes in agricultural policies can significantly impact the production of basmati rice, leading to price volatility.
Another challenge is the competition from other premium rice varieties and substitutes. While basmati rice is renowned for its unique qualities, other premium rice varieties, such as jasmine rice, also compete for market share. Additionally, the growing trend of low-carb and alternative diets may affect the demand for rice in general, posing a challenge to the basmati rice market.
The stringent quality standards and certification requirements for exporting basmati rice also pose a challenge. Exporters need to adhere to rigorous quality checks and certifications to meet the standards set by importing countries. Any lapse in quality can lead to rejection of shipments, affecting the market dynamics.
Future Prospects
The global basmati rice market is poised for significant growth in the coming years, driven by the increasing demand for high-quality, aromatic rice varieties and the expanding applications of basmati rice in diverse culinary traditions. The rising disposable incomes, growing awareness of health benefits, and the popularity of ethnic cuisines are expected to further fuel market expansion.
Innovation in packaging and product offerings, along with efforts to enhance production efficiency and sustainability, will play a crucial role in shaping the future of the basmati rice market. As consumers continue to seek premium and convenient food options, the demand for basmati rice is expected to remain strong, presenting lucrative opportunities for market players.
Media Contact:
Company Name: Claight Corporation
Contact Person: George buttler, Corporate Sales Specialist – U.S.A.
Email: [email protected]
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
Aus Site: https://www.expertmarketresearch.com.au/