The global rice market size was valued at USD 292.39 Billion in 2022 and is projected to reach USD 355.65 Billion by 2031, expanding at a CAGR of 2.2% during the forecast period, 2023 – 2031. Oryza sativa or Oryza glaberrima is the grass species used for rice seeds. Large number of countries around the world consume rice as a staple food. The demand for rice has increased due to improvement in production techniques.
In general, rice plants mature in three to six months, depending on the variety and environment under which it is grown. Water is commonly used to cook rice and consume it. Rice flakes, rice puffed wafers, rice wafers, and canned rice are some forms in which it is consumed on a daily basis. The starch and brewing industries also rely on rice. Cattle and poultry feed are made from rice husks and bran, which are two products of rice milling.
Rice Market Trends, Drivers, Restraints, and Opportunities
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Increasing governments initiatives for major domestic rice production industries and growing population are major factors anticipated to propel growth of the global rice market.
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Rice is considered as a strategic commodity and remains subject to a wide range of government controls and interventions. Thus, such stringent regulations can create challenges for the market growth.
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Rising support from government and other associations in developing nations, advancement in agricultural technologies, and demand for high quality rice from gulf countries are major factors driving the market growth.
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Rising demand for rice from emerging and developed nations across the world is estimated to create lucrative opportunities during the forecast period.
Scope of Rice Market Report
The report on global rice market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Rice Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 & 2021
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Forecast Period
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2023–2031
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Segmentation
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Rice Length (Long Grain, Medium Grain, and Short Grain), Types (Arborio Rice, Black Rice, Jasmine Rice, Brown Rice, Rosematta Rice, Red Cargo Rice, Parboiled Rice, Sushi Rice, and Others [Wild Rice, Valencia Rice, and Glutinous Rice]), Distribution Channels (Retail Stores, Specialty Stores, Department Stores, Supermarkets, and E-commerce)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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Thanasan Group, Gulf Rice Milling, Inc, Capital Rice Group, Lal Qilla, American Rice, Asia Golden Rice, KRBL Ltd, Kohinoor, Alobha, Daawat, ADM Rice, Ake Rice Mill Co., Ltd, Lakshmi Group, REI Agro Ltd, and Kohinoor Foods Ltd.
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Rice Market Segment Insights
Long grain segment is projected to hold a significant market share
In the terms of rice length, the market can be segmented into long grain, medium grain, and short grain. The long grain segment is projected to hold a significant market share in the projected timeline. Growing population and increasing demand for premium class rice are major factors propelling the market growth.
Brown rice segment is anticipated to account a substantial share
Based on types, the global rice market can be divided into arborio rice, black rice, jasmine rice, brown rice, rosematta rice, red cargo rice, parboiled rice, sushi rice, and others. The others segment includes wild rice, valencia rice, glutinous rice, and others.
The brown rice segment is anticipated to grow at a healthy rate during the forecast period. The shift of consumers toward healthy eating habits has encouraged manufacturers to focus on launching new product line and making renewed efforts to attract health-conscious people.
Supermarket segment is estimated to grow at a rapid pace in the near future
On the basis of distribution channels, the global rice market can be divided into retail stores, specialty stores, department stores, supermarkets, and e-commerce.
The supermarkets segment is expected expand at a high CAGR during the forecast period. Most individuals seek to buy food commodities in person, which is driving the growth of the market segment. On the other hand, the e-commerce segment is expected to grow at a robust pace due to rapid growth of the online grocery market.
Asia Pacific is expected to dominate the market
In terms of regions, the global rice market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate market of the global rice market owing to high production capacities of countries such as Thailand, Vietnam, India, Pakistan, and China, which accounts for almost 75% of rice export from this region.
Segments
By Rice Length
- Long grain
- Medium grain
- Short grain
By Types
- Arborio rice
- Black rice
- Jasmine rice
- Brown rice
- Rosematta rice
- Red cargo rice
- Parboiled rice
- Sushi rice
- Others
- Wild rice
- Valencia Rice
- Glutinous Rice
By Distribution Channels
- Retail stores
- Specialty stores
- Department stores
- Supermarkets
- E-commerce
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- Thanasan Group
- Gulf Rice Milling, Inc
- Capital Rice Group
- Lal Qilla
- American Rice
- Asia Golden Rice
- KRBL Ltd
- Kohinoor
- Alobha
- Daawat
- ADM Rice
- Ake Rice Mill Co., Ltd
- Lakshmi Group
- REI Agro Ltd
- Kohinoor Foods Ltd.
Competitive Landscape
Key players in the global rice market are Thanasan Group, Gulf Rice Milling, Inc, Capital Rice Group, Lal Qilla, American Rice, Asia Golden Rice, KRBL Ltd, Kohinoor, Alobha, Daawat, ADM Rice, Ake Rice Mill Co., Ltd, Lakshmi Group, REI Agro Ltd, and Kohinoor Foods Ltd. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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