Rice Market Size Forecast to Reach $313
Billion by 2025
Published:
Sept. 18, 2020 at 12:04 p.m. ET
The
MarketWatch News Department was not involved in the creation of this content.
Sep 18,
2020 (The Expresswire) -- 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 RandD 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 and 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.
Related
Reports :
A.
Organic Rice Protein Market
https://www.industryarc.com/Research/Organic-Rice-Protein-Market-Research-504886
B.
Alternative Pasta Market
https://www.industryarc.com/Report/17959/alternative-pasta-market.html
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Press
Release Distributed by The Express Wire
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the original version on The Express Wire visit Rice Market Size Forecast to
Reach $313 Billion by 2025
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