Basmati Rice Market: Large Players Vie to Expand into Regional Markets

The global basmati rice market is a choc-o-bloc with companies both large and small that features a fragmented vendor landscape, as per a report by Transparency Market Research (TMR). Leading players such as McCormick & Co., Hain Celestial, Rice ‘n Spice, REI Agro, LT Foods, East End Foods, and Amira Nature Foods serve local as well as global consumers, which is reflected in the growth of basmati rice market. Penetration into regional markets as rice is the staple food of more than half of the world’s population is likely to provide ample growth opportunities for leading players in the market. These players are penetrating regional markets through strategic partnerships, which is likely to make the market somewhat consolidated albeit more competitive, states the report.

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The worldwide basmati rice market stood at a valuation of US$10.51 bn in 2017. Proliferating at a robust CAGR of 11.0% between 2017 and 2022, the market is anticipated to be worth US$17.74 bn by the end of 2022. By type, the demand for raw basmati surpasses than that for parboiled and steam, mainly because of superior taste and aromatic property of the former. Among the various sales channel, traditional grocery stores remain the key sales channel, with convenience stores following closely. Among the key regional markets for basmati rice, Asia Pacific excluding Japan acquires the leading position in the overall market thanks to high production of rice in the region.

Increasing Spending on Superior Grains across Consumer Groups Benefits Market

“Among the various types of rice, basmati rice enjoys a premium position thanks to its superior taste and aromatic quality,” says a TMR analyst. Almost 90% of production and consumption of basmati rice is centered in Asia, mainly because of its origin from the Indian subcontinent. The growth of the basmati rice market in Asia is powered by high production and export of this type of rice from India and Pakistan. As per records of the Agricultural and Processed Food Products Export Development Authority, India accounted for 59% exports to the overseas basmati rice in 2014, with the remainder exported from Pakistan.

The emergence of local varieties of basmati rice is also aiding the growth of basmati rice market. Several countries are increasingly producing domestic variety of basmati rice at relatively low prices. This is to prevent complete dependence on import which is subject to climatic and trade uncertainties as well as to promote consumption of local varieties.

Across several parts of the world, rising disposable income has benefitted the basmati rice market. Consumers are increasingly spending liberally on premium quality grains, lentils, and spices for a fulfilling eating experience. Basmati rice is increasingly becoming the choice across consumer groups mainly because of its superior taste and aroma that is highly pleasing to the senses.

Rising Awareness of Health Ill-effects of Prolonged Consumption of Polished Rice Crimps Growth

On the flip side, high price of basmati rice over other rice variants is a key challenge to the market’s growth. Basmati rice remains a premium grain not affordable by the average consumer. In addition, increasing awareness about health ill-effects of consuming polished rice on an everyday basis is leading consumers to switch to unpolished rice varieties. This is challenging the growth of basmati rice market to some extent.

Global Basmati Rice Market to Report 11.0% CAGR between 2017 and 2022

Global Basmati Rice Market: Overview

The global market for basmati rice is witnessing a noticeably high growth, at present, and is expected to continue on the same track over the next few years. This report by Transparency Market Research (TMR) attempts to present a comprehensive analysis of the global basmati rice market by examining the prominent trends, growth drivers, limitations, and opportunities and the impact of these factors on the demand for basmati rice between 2017 and 2022. It also examines the potential of this market at the global as well as the regional level.

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Further, a detailed analysis of the value chain, which offers an exhaustive overview of the worldwide market for basmati rice has been offered in this research study, encompassing the analysis of the attractiveness of the market, in which, the end users are characterized on the basis of their size of the market, rate of growth, and general attractiveness.

Global Basmati Rice Market: Scope of the Study

The research study provides a comprehensive assessment of various important factors that influence the sales of basmati rice across the world to readers for wise decision making. It also offers a thorough evaluation of the lucrative opportunities, which involve untapped or recently explored factors that are expected to drive this market over the forthcoming years. Further, it carries out an analysis of the value chain to help in understanding the market at length. This value chain assessment includes a detailed evaluation of the roles of numerous important entities in the global basmati rice market, from the raw materials suppliers to the end users.

Various procedures of the production of basmati rice have also been examined in the value chain analysis. Furthermore, the assessment of market attractiveness has been conducted to evaluate the end-use segments, which are projected to be lucrative and profitable over the forecast period, taking a number of factors, such as the size of its market, its profitability, growth rate, and the degree of the competition, in consideration.

Largely, the global market for basmati rice is analyzed on the basis of the type of rice, sales channel, spices, and the application. Based on the type of rice, the market is classified into rice, steamed, and parboiled. By the sales channel, the market is categorized into HORECA, modern trade, convenience store, online store, and traditional grocery stores. Based on the application, the report bifurcate the market into food and cosmetic and personal care.

Global Basmati Rice Market: Geographical Outlook

In terms of the geography, the research study broadly classifies the global basmati rice market into North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), Latin America, and Japan. These geographical categories are, then, evaluated on the basis of the current and imminent trends in each of the regions in order to provide an insight into the current and expected demand for basmati rice there. The demand from the individual end-use sections in each of the regional markets has also been presented in this research report.

Furthermore, the report estimate the market size of each of the regional basmati rice market in 2017 and make predictions for the coming years. The figures related to the regional markets have been estimated on the basis of their performance, in terms of the basmati rice, sales channel, application, and the species.

Companies Mentioned in the Report

McCormick & Co. Inc., LT Foods Ltd., The Hain Celestial Group Inc., Estraco Kft., East End Foods, The Rice 'n Spice Intl Ltd., KRBL Ltd., Amira Nature Foods Ltd., Mars Inc., and REI Agro Ltd. are the leading companies functional in the global market for basmati rice.

Basmati Rice Market Expected to Rise further to US$17.74 bn by 2022

The global basmati rice market is undergoing a phase of significant improvement, thanks to steady rise in the demand from people across the world, states a new research study by Transparency Market Research (TMR). Since rice is the most prominent staple food for more than half of the world’s population, the leading payers in this market, such as McCormick & Co., LT Foods, Hain Celestial, East End Foods, Rice 'n Spice, Amira Nature Foods, and REI Agro, have ample opportunities for the growth of their businesses.

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These participants are expected to increase their focus on expanding in various regional markets across the world, for which, they are engaging into strategic partnerships. This, as a result, is anticipated to intensify the competition within the market in the years to come, notes the research study.

Global Basmati Rice Market to Report 11.0% CAGR between 2017 and 2022

Rice is one of the most crucial food crop and a staple for more than half of the population across the world. Owing to its fine quality, fragrance, and taste, basmati rice has gained a premium status among all the type of rice available, globally. “Thanks to the premium position basmati rice enjoys in the global rice market, the worldwide basmati rice market has been proliferating substantially,” says a TMR analyst. Nearly 90% of the production as well as consumption of basmati rice is centered in Asia, with China and India being the most prominent producers, as well as consumer of this type of rice.

The opportunity in the worldwide market for basmati rice is anticipated to reach US$10.51 bn by 2017. Proliferating at a robust CAGR of 11.0% over the period from 2017 to 2022, the market is expected to rise further to US$17.74 bn by the end of the period of the forecast. The increasing price of paddy crop and the declining inventory prices in Asian Countries are likely to reflect positively on the global market for the basmati rice in the years to come, states the research report.

Demand for Basmati Rice to Remain High in APEJ

The research report presents a comprehensive analysis of the global basmati rice market on the basis of a number of important market parameters. In terms of the geography, the report classifies this market into Asia Pacific excluding Japan (APEJ), North America, Europe, the Middle East and Africa (MEA), Japan, and Latin America. Among these, APEJ has surfaced the leading regional market for basmati rice. By 2017, the APEJ basmati rice market is expected to hold more than 46% of the overall market and is predicted to continue on the leading position throughout the forecast period.

Majorly, three types of basmati rice is consumed across the world: Raw, parboiled, and steamed. Among these, raw basmati registers a much greater demand than parboiled and steamed basmati rice, thanks to its superior quality, fragrance, and taste. With a CAGR of 12.90%, raw basmati rice is expected to remain to most preferred product in this market during the period of the forecast, reports the research study.

Basmati Rice Market: Players to Focus on Regional Expansion

The global basmati rice market is undergoing a phase of significant improvement, thanks to steady rise in the demand from people across the world, states a new research study by Transparency Market Research (TMR). Since rice is the most prominent staple food for more than half of the world’s population, the leading payers in this market, such as McCormick & Co., LT Foods, Hain Celestial, East End Foods, Rice 'n Spice, Amira Nature Foods, and REI Agro, have ample opportunities for the growth of their businesses.

These participants are expected to increase their focus on expanding in various regional markets across the world, for which, they are engaging into strategic partnerships. This, as a result, is anticipated to intensify the competition within the market in the years to come, notes the research study.

Global Basmati Rice Market to Report 11.0% CAGR between 2017 and 2022

Rice is one of the most crucial food crop and a staple for more than half of the population across the world. Owing to its fine quality, fragrance, and taste, basmati rice has gained a premium status among all the type of rice available, globally. “Thanks to the premium position basmati rice enjoys in the global rice market, the worldwide basmati rice market has been proliferating substantially,” says a TMR analyst. Nearly 90% of the production as well as consumption of basmati rice is centered in Asia, with China and India being the most prominent producers, as well as consumer of this type of rice.

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The opportunity in the worldwide market for basmati rice is anticipated to reach US$10.51 bn by 2017. Proliferating at a robust CAGR of 11.0% over the period from 2017 to 2022, the market is expected to rise further to US$17.74 bn by the end of the period of the forecast. The increasing price of paddy crop and the declining inventory prices in Asian Countries are likely to reflect positively on the global market for the basmati rice in the years to come, states the research report.

Demand for Basmati Rice to Remain High in APEJ

The research report presents a comprehensive analysis of the global basmati rice market on the basis of a number of important market parameters. In terms of the geography, the report classifies this market into Asia Pacific excluding Japan (APEJ), North America, Europe, the Middle East and Africa (MEA), Japan, and Latin America. Among these, APEJ has surfaced the leading regional market for basmati rice. By 2017, the APEJ basmati rice market is expected to hold more than 46% of the overall market and is predicted to continue on the leading position throughout the forecast period.

Majorly, three types of basmati rice is consumed across the world: Raw, parboiled, and steamed. Among these, raw basmati registers a much greater demand than parboiled and steamed basmati rice, thanks to its superior quality, fragrance, and taste. With a CAGR of 12.90%, raw basmati rice is expected to remain to most preferred product in this market during the period of the forecast, reports the research study.

The review is based on a report by Transparency Market Research (TMR), titled “Basmati Rice Market (Type - Raw, Steamed, and Parboiled; Species - White and Brown; Application - Food and Cosmetic and Personal Care; Sales Channel - HORECA, Modern Trade, Convenience Store, Online Store, and Traditional Grocery Stores) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”