Rice
inventories’ are increasing as the rice supply is continuously
improving globally. Rice is one of the major food staples and
mainstay for the rural population and their food security. Moreover
rice is used as a wage commodity for workers in cash crop or non
agriculture sectors in some countries such as India among others.
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The
global rice market can be segmented according to product type such as
long grain white rice (high quality), long grain white rice (low
quality), long grain parboiled rice, long grain fragrant rice, broken
and medium grain milled among others.
The
market can be segmented geographically into North America, APAC,
Europe and RoW regions.
The
global rice
market is expected to grow with a healthy single digit CAGR
from 2013 to 2019.
The
key driver of this market is the growing fast food industry and
restaurants. Rice is one of the favorite cereals for most of the
consumers. The growing population is second driver for increasing
consumption of rice globally. The demand for fragrant rice is
increasing gradually globally. Moreover long rice (high quality) is
one of the premium class rice and it is not consumed on a regular
basis.
The
distribution channel includes hypermarkets/supermarket, departmental
stores and stores among others. Asia Pacific is the major producer
and exporter of rice globally. However China and India are of the
major consumers and producers.
Some
of the key players in rice industry are Riceland foods Inc., V.A.P
Foods ltd and KRBL ltd among others.
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