Basmati Rice Market Forecast, 2022-2027

Basmati Rice Market Size is estimated to reach $31.6 billion by 2027 and is poised to grow at a CAGR of 9.1% over the forecast period of 2022-2027. Basmati is a variety of long, slender-grained aromatic rice that is traditionally grown in India, Pakistan and Nepal. The aroma of basmati rice is due to the presence of the chemical 2-acetyl-1-pyrroline. It also contains amino acid, folic acid, thiamine and carbohydrates. The aroma, aesthetic taste and high nutritional values surge the demand for aromatic basmati rice. Government initiatives to increase production and strengthen the supply chain of basmati rice are expected to propel market growth. For instance, in November 2021 to boost exports of basmati rice, the Agricultural and Processed Food Products Export Development Authority and Basmati Export Development Foundation took steps to sensitize farmers involved in the cultivation of Basmati rice in key growing regions of India about the adoption of good agricultural practices. According to the United States Department of Agriculture, US rice imports have been increasing over the last 20 years, from about 10% of the domestic market to around 25% by 2019-2020 (August-July). Most U.S. rice imports are aromatic varieties from Asia - jasmine from Thailand and basmati from India and Pakistan. Such government support and imports of high-quality Basmati Rice propel the growth of the Basmati Rice Industry over the forecast period 2022-2027.

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Basmati Rice Market Report Coverage

The report: “Basmati Rice Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Basmati Rice Market.

By Type: Parboiled and Raw.

By Species: White, Brown and Others.
By Pack Size: Retail Packaging and Institutional Packaging.

By End-use: Industrial, and Household.

By Distribution Channels: Traditional, Modern, Retail and HORECA.

By Geography: North America (the US, Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the Rest of Europe), Asia-pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia-pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, Asia-pacific held a dominant market share in 2021. The high production & consumption of rice as a staple food in this region are driving the Market.

  • The Basmati Rice Market Size is predicted to increase due to growing research for the development of high-yielding varieties of basmati rice.

  • However, the stringent regulation for export by developed countries may limit the market growth over the forecast period.

  • A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Basmati Rice Market Report.


Basmati Rice Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Basmati Rice Industry. The top 10 companies in the Basmati Rice Market are:

  1. Adani Wilmar Ltd
  2. ITC
  3. East End Foods
  4. TBA Suntra
  5. Amira Basmati Rice
  6. VSR Rice
  7. The Rice 'n Spice International Ltd.
  8. Kohinoor Foods
  9. S.G.S. International Rice Company.
  10. LT Foods

Recent Developments

  • In May 2022, Adani Wilmar Ltd acquired the 'Kohinoor' brand from McCormick Switzerland GMBH. The acquisition would give AWL exclusive rights over the brand 'Kohinoor' basmati rice along with 'Ready to Cook' and 'Ready to Eat' curries and meals portfolio under the Kohinoor brand umbrella in India.
  • In July 2020, ITC Ltd announced the acquisition of spices manufacturer Sunrise Foods Private Ltd in an all-cash deal valued at Rs 2,150 crore, in order for the sellers to be eligible for contingency payment of up to Rs 150 crore.
  • In July 2019, Amira Nature Foods Ltd, a global provider of packaged Indian specialty rice, announced entering into a contract to supply approximately $18 million of third-party branded rice to a new customer in the EMEA region.

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Location: United States

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