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Rice Market Size Forecast to Reach $313 Billion by 2025


Rice Market Size For

iCrowdNewswire   Oct 30, 2020  10:45 AM ET

Rice Market size is forecast to reach $313 Billion by 2025, growing at a CAGR of 2.9% during the forecast period 2020-2025. Rice is the most important food crop of the developing world and the staple food of more than half of the world’s population. Rich in nutrients and vitamins and minerals, it an excellent source of complex carbohydrates. Red rice is one of the popular kind of rice that is colored red by its anthocyanin content. Red rice has the highest nutritional value among all the varieties of rice. Grain parboiled rice is rice that has been partially boiled in the husk. Grain fragrant rice is a long-grain variety of fragrant rice whose fragrance results from the rice plant’s natural production of aroma compounds. Growing demand for carbohydrate-rich diet among majority of the global population, increasing rice production and quality management by farming sectors in many countries, increasing trends of rice exports and increasing government policies initiatives for development and commercialization of major domestic rice production industries are driving the market growth in recent years. In addition, major market development of key players like ITC and Ebro are other factors driving the growth of the market. Rice Industry Analysis is based on rice length, type, product type, application, distribution channel and geography.

By Rice Length – Segment Analysis

Long-grain held the largest share in the rice length segment of Rice Market in 2019 and is estimated to grow at a CAGR of 3.24% during the forecast period 2020-2025. The growth of this segment is primarily driven by the growing use in social gatherings, daily meals and various cultural dishes including pilaf and stir fry as after getting cooked these become firm, fluffy and remain separate. As domestic production remains flat, imports are rising to meet growing consumption demand. Whereas most production is japonica rice, consumers have increasingly shifted toward non-japonica long grain varieties. Imports in Saudi Arabia are up on an expected rebound in religious tourism. With no domestic production, the country is fully reliant on imports for its supply of basmati, long-grain parboiled, and medium-grain rice. This has resulted in a rapid surge in the demand of long grain rice in the recent years. Medium grains is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to China’s exports set to be strong, supported by continued auction sales from its large stockpiles. The Chinese old-crop rice is selling around $300/ton and export prices for medium- and short-grain rice are averaging slightly above that, well below the prices of other medium- and short-grain exporters, which is poised to give a push to the global sales of medium grains.

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Distribution Channel – Segment Analysis

Super Markets held the major share in the distribution channel segment of Rice Market in 2019. This is owing to major share of supermarkets in urban and semi urban areas, where the population prefers ease in product availability. In recent years, considerable increase in number of supermarket stores has been seen, with. With the increase in local supermarkets, discount offers and easy delivery, there has been a further increase in sales. E-commerce is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to growing number of customer base for rice consumption and increasing key investments by major market players in digital commercialization.

Geography – Segment Analysis

Asia-Pacific dominates the geography segment of Rice Market with a share of more than 41.7% in 2019, followed by Europe. The good amount of rice cultivation owing to favorable climate and geography, increasing adoption of low-calorie and high fiber diet and presence of key market players in the region have resulted in massive growth of the market in the last two decades. Europe held the second place in the geography segment share of the market, owing to increasing consumption of rice and related recipes by the urban population, increase in farming and agricultural activities and entry of key market players in recent time.
Asia-Pacific is estimated to continue growing at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to increasing rice exports by developing countries such as India and China, favorable government schemes for rice cultivation, and increasing disposable income of the population.

Drivers – Rice Market

Dietary shift of consumers towards carbohydrate-based diet

In past few years, people have become self-conscious about their diet, and hence, they are looking more to balanced diets with enough carbohydrates. A shift in energy intake for carbohydrate foods, especially rice, has been noticed in many high-income countries. Various dishes are becoming popular, with restaurants taking on the trends of various rice dishes. This is set to drive the market growth in the forecast years 2020-2025.

Increasing trends of rice exports by Asian countries

Eleven countries of Asia contribute about 87% to the total global rice production. The export of eight of these countries constitutes about 35% of the global rice export. The global food security is highly impacted by the rice production in Asia in general and India and China in particular. This is projected to drive the demand for rice, and consequently help in market growth during the forecast period 2020-2025.

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Challenges – Rice Market

Declining productivity in intensive rice production systems

Although aggregate rice yields reported at the national level continue to rise in most Asian countries, albeit at a reduced rate, yield declines have been documented in several long-term experiments on double-crop and triple-crop irrigated rice systems. Reduced quality of nitrogen management and soil nitrogen supply over the years have reduced the rate of production in the last few years. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.

Rice Industry Outlook

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Rice Market. In 2019, Rice Market share is consolidated by the top players present in the market. Rice Market top 10 companies are Nestle, Barilla Group, ITC, The Kraft Heinz Company, Delverde, Ebro Foods, TreeHouse Foods, American Italian Pasta Company, Armanino Foods of Distinction Inc. and India Gate Basmati Rice among others.

Acquisitions/Product Launches

In December 2018, ITC entered the crowded Indian rice market with Sona Masoori, fine variety of non-basmati rice.

In January 2017, Ebro Foods, S.A. merged with its U.S. rice and pasta companies, Riviana Foods Inc., American Rice, Inc. and New World Pasta Company, creating the largest manufacturer and marketer of rice products and the second largest producer and distributor of pasta products in the United States.

In May 2020, India Gate Basmati Rice collaborated with Zomato & Swiggy to deliver products to your home amid lockdown.

Key Takeaways

Asia-Pacific dominates the Rice Market in the year 2019 owing to favorable climate and geography for rice cultivation, increasing adoption of low-calorie and high fiber diet and presence of key market players in the region. The Rice Market scope for different regions will be provided in the final report.

Dietary shift of consumers towards carbohydrate-based diet, increasing number of launches of new rice brands, increasing trends of rice exports and increasing government policies initiatives for development and commercialization of major domestic rice production industries is estimated to drive the industry growth during the forecast period 2020-2025.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Rice Market report.

Declining productivity in intensive rice production systems, pressures from abiotic and biotic stresses and low returns in developing countries are anticipated to hamper the market growth of the Rice Industry.

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https://www.industryarc.com/Report/17959/alternative-pasta-market.html

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