Basmati Rice Market In the projection period, 2022 to 2032, the market is expected to increase at a CAGR of 5.1%. Raw basmati rice continues to dominate the market due to its exceptional nutritional and culinary features, low price, and enticing scent. Furthermore, while white basmati rice is widely distributed globally, demand for brown basmati rice is rapidly increasing in the basmati rice market as knowledge of the health benefits of brown rice grows.
Rice is high in carbohydrates and hence produces the primary fuel for the human body. Carbohydrates play an important function in keeping one stimulated and satiated. These are high in minerals and fiber, as well as manganese and selenium. Basmati rice is still in high demand due to its superior flavor and fragrance features when compared to other long-grain rice varieties. Basmati rice is grown in a few other South Asian countries, including Bangladesh, Vietnam, and Indonesia, but only for local use. India produces the majority of basmati rice.
Competitive Landscape:
Along with meeting the consistent demand for raw basmati rice, market participants are working on developing a wide range of flavors in appealing packaging options. For example, Hain Celestial Group Inc. recently showcased its new product lines in Expo West 2018, including a premium flavored ready-to-heat product line of basmati rice.
Furthermore, strategic acquisitions and expansions continue to be prevalent in the industry. One such example is McCormick & Co. Inc.’s entire acquisition of Kohinoor in 2017. Other key events in the worldwide marketplace include the dissolution of REI Agro Ltd. after an order from the National firm Law Tribunal (NCLT) and KRBL Ltd.’s proposal to buy the firm.
Key Players:
- LT Foods Ltd.
- Estraco Kft.
- East End Foods
- The Rice ‘n Spice Int. Ltd.
- Amira Nature Foods Ltd.
- Mars Inc
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Regional Analysis:
Because of good agro-climatic conditions, India leads the Asian area in the volume of basmati rice produced each year. Because of the large variety of crops grown in these locations, India, Thailand, and Vietnam have a considerable market share. In 2022, China’s basmati imports were 4.6 million metric tons. Furthermore, China is expected to continue to be a big importer of basmati rice, followed by the Philippines and Nigeria. The market is divided into several categories, including raw, steamed, and parboiled basmati rice.
Furthermore, the market is divided into brown and white basmati rice. North America, Latin America, Asia Pacific, MEA, and Europe are the regional segments of the basmati rice market.
Key Segments of Industry:
- On the basis of Species :
- White
- Brown
- Others
- On the basis of Sales Channel :
- Traditional
- Modern
- Retail
- HORECA
- On the basis of Application :
- Industrial
- Household
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