Rice Market - Forecast(2024 - 2030)

Report Code: AGR 0082 Report Format: PDF + Excel

Rice Market Overview:

The Rice Market size is estimated to reach $356 billion by 2030, growing at a CAGR of 2.6% during the forecast period 2023-2030. Rice is a staple food with around 800 million metric tons produced annually at the global level. There are different types of rice available, including brown rice, Indica rice, black rice, red rice, bomba rice, arborio rice, parboiled rice, sushi rice, glutinous rice and others. Indica rice includes basmati rice and jasmine rice. Currently, vegan diets are becoming increasingly recognized due to ethical reasons. The potential of rice to provide solutions for malnutrition and chronic ailments has been examined.

The rising intake of basmati rice owing to its superior taste and aroma is set to drive the Rice Market growth. Basmati rice is the most recognized speciality rice in the UK, contributing special flavor and delicacy to curries, pilafs and kedgerees. Almost three-quarters of the global basmati is made in India with the UK purchasing 3% of it. Improved production capacities of rice in India and the provision of non-basmati rice from India to the Middle East and Africa are the major rice market trends. This represents the Rice Industry Outlook.

Market Snapshot:

Rice Market

Rice Market - Report Coverage:

The “Rice Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Rice Market.

AttributeSegment




By Type


  • Brown Rice

  • Indica Rice

  • Black Rice

  • Red Rice

  • Bomba Rice

  • Arborio Rice

  • Parboiled Rice

  • Sushi Rice

  • Glutinous Rice

  • Others



By Distribution Channel

  • Hypermarket

  • Supermarket

  • Convenience Store

  • Departmental Retail Stores

  • Online Stores

  • Others






By Geography

  • North America (the US, Canada and Mexico)

  • Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and the Rest of South America)

  • The Rest of the World (the Middle East and Africa).


COVID-19 / Ukraine Crisis - Impact Analysis: 

  • Investigations pertaining to the impact of the COVID-19 pandemic on rice volumes and prices were performed. International rice prices rose on an average of 25 percent during March–September 2020 and remained high (on average 36 percent higher in March 2021) compared to pre-COVID-19 levels, despite the loosening of rice export restrictions and quarantine measures in the second half of 2020.
  • Following the invasion of Ukraine, prices of staple foods or diets like maize became greatly volatile as did rice prices. The war boosted feed demand for rice after supply concerns in maize and wheat, making rice prices extra volatile. As per FAO, the world rice utilization in 2022/23 is currently projected at 519.0 million tons, down 0.6% from the 2021/22 historical peak. As per the Cambodia Rice Federation (CRF), the Russia-Ukraine war would have no considerable impact on Cambodian milled-rice exports. 

Key Takeaways:

The Dominance of the Asia-Pacific Region

Geographically, Asia-Pacific led the largest Rice market with a 34.6% share of the overall market in 2022 and it is poised to dominate the market over the period 2023-2030. This is owing to staple foods or diets like rice playing a vital role in resolving malnutrition in Southeast Asia in the Asia-Pacific region, leading to the Rice market opportunities.

Rapid Growth of Arborio Rice Segment

According to Rice market analysis, based on Type, Indica Rice dominated the market with a share of 21.2% and the Arborio Rice Segment is estimated to grow at the fastest CAGR of 3.8% during the Rice market forecast period 2023-2030. The growth is due to the conventional application of arborio rice for preparing risottos and other recipes like rice pudding.

The Dominance of Departmental Retail Stores as per Rice Market Analysis

Based on Distribution Channel, the Departmental Retail Stores segment held the largest Rice Market share of 27.2% in 2022. This is due to the economy buying of rice like brown rice, jasmine rice and basmati rice on large scale with makers offering massive discounts to departmental stores.

Health Benefits of Parboiled Rice to Drive the Rice Industry

As per a greatly esteemed database from the National Institutes of Health, when people with type 2 diabetes consumed around 1.12 cups (185 grams) of cooked parboiled rice after fasting overnight, their rise in blood sugar was 35% lower than when they consumed the same quantity of normal white rice. The health benefits of parboiled rice are driving the Rice Market.

Surging Applications of Bomba Rice to Drive the Market Growth

Bomba rice is one of the preferred rice while cooking classic French dishes. The cooking time for Bomba rice is 18 minutes while leaving it for 3 more minutes to rest. Bomba rice may be utilized for soupy rice, creamy rice and paellas. The surging applications of Bomba rice are therefore set to drive the growth of the Rice Market during the forecast period 2023-2030.

Disadvantages of Sushi Rice to Hamper the Market Growth

Consuming uncooked sushi rice carries the hazard of food poisoning. Certain people may endure an allergic reaction if they consume sushi. 1 piece of Sushi may have around 160mg of sodium. Sushi rice may be high in sodium. These are some of the factors hampering the growth of the Rice Market.

Rice Market: Market Share (%) by Region, 2022

 

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Key Market Players:

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Rice Market. The top 10 companies in the Rice market are:

  1.  LT Foods Ltd (DAAWAT, ROYAL)
  2. KRBL Limited (India Gate, Unity)
  3. Aashirvad International (Aashirvaad)
  4. GIA Foods Ltd. (Gia Naturals)
  5. Thai Hua (2511) Co., Ltd. (Thai)
  6. Asia Golden Rice Co., Ltd. (Siam Purice, Monarch)
  7. Lundberg Family Farms (Lundberg Family Farms)
  8. Tanasan Rice Group (Tanasan Rice Co., Ltd. & Premium Rice Export Co., Ltd.) (Thai Rice)
  9. Ake Rice Mill Co., Ltd (THAI PREMIUM RICE AKE RICE MILL CO., LTD)
  10. Kohinoor Foods Limited (KOHINOOR PREMIUM, KOHINOOR MIDDLE)

Scope of Report:

Report MetricDetails

Base year considered

2022

Forecast period

2023–2030

CAGR

Growing at the rate of 2.6%

Market Size in 2030

356 billion USD

Segments Covered

Type, Distribution Channel and Region


Geographies covered

North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & 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 Market Players

1. LT Foods Ltd

2. KRBL Limited

3. Aashirvad International

4. GIA Foods Ltd.

5. Thai Hua (2511) Co. Ltd.

6. Asia Golden Rice Co. Ltd.

7. Lundberg Family Farms

8. Tanasan Rice Group

9. Ake Rice Mill Co. Ltd

10. Kohinoor Foods Limited

Frequently Asked Questions:

i. What is the growth rate of the Rice market during the forecast period?

The Rice Market is forecasted to grow at a 2.6% CAGR during the forecast period 2023-2030

ii. What is the predicted growth of the Global Rice Market size from 2022 to 2030?

The Global Rice Market size is estimated at USD 293.8 billion in 2022 and is projected to reach USD 356 billion by 2030.

iii. What are the leading market players in the Rice Market?

LT Foods Ltd, KRBL Limited, Aashirvad International, GIA Foods Ltd., Thai Hua (2511) Co., Ltd. and Asia Golden Rice Co., Ltd are some of the leading market players in the Rice market

iv. What are the major trends that would shape the market in future?
Improved production capacities of rice in India and the provision of non-basmati rice from India to the Middle East and Africa are the major rice market trends.

v. What are the driving factors and opportunities in the market?
The Triumph of the green revolution and the continuous boost in rice intake outside Asia are driving the Rice Market growth. Technological innovation in boosting rice production is posing opportunities for the market.

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1. Rice Market Overview
    1.1 Definitions and Scope
2. Rice Market - Executive Summary
3. Rice Market – Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Rice Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Rice Market – Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Rice Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Rice Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Rice Market – by Type (Market Size – $Million/$Billion) 
    8.1 Brown Rice
    8.2 Indica Rice
        8.2.1. Basmati Rice
        8.2.2. Jasmine Rice
    8.3 Black Rice
    8.4 Red Rice
    8.5 Bomba Rice
    8.6. Arborio Rice
    8.7 Parboiled Rice
    8.8 Sushi Rice
    8.9 Glutinous Rice
    8.10 Others
9. Rice Market – by Distribution Channel (Market Size – $Million/$Billion) 
    9.1 Hypermarket
    9.2 Supermarket
    9.3 Convenience Store
    9.4 Departmental Retail Stores
    9.5 Online Stores
    9.6 Others
10. Rice Market - by Geography (Market Size - $Million/Billion)
    10.1 North America
        10.1.1 The U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 Germany
        10.2.2 France
        10.2.3 the UK
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 The Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 South Korea
        10.3.4 India
        10.3.5 Australia & New Zealand
        10.3.6 The Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Chile
        10.4.4 Colombia
        10.4.5 The Rest of South America
    10.5 The Rest of the World
        10.5.1  The Middle East
        10.5.2  Africa
11. Rice Market - Market Entropy
    11.1 New product launches
    11.2 M&As, collaborations, JVs and partnerships
12. Rice Market – Industry Competition Landscape (Premium)
    12.1 Market Share Analysis
        12.1.1 Market Share by Type – Key Companies
        12.1.2 Market Share by Country – Key Companies
        12.1.3 Market Share by Region – Key Companies
    12.2 Competition Matrix
    12.3 Best Practices for Companies
13. Rice Market – Key Company List by Country Premium (Premium)
14. Rice Market - Company Analysis
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
* "Financials would be provided to private companies on best-efforts basis." 
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LIST OF TABLES

1.Global MARKET SEGMENTATION Market 2023-2030 ($M)
1.1 By Product Type Market 2023-2030 ($M) - Global Industry Research
1.1.1 Regular Market 2023-2030 ($M)
1.1.2 Aromatic Market 2023-2030 ($M)
1.2 By Distribution Channel Market 2023-2030 ($M) - Global Industry Research
1.2.1 Roadsided Stores Market 2023-2030 ($M)
1.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
1.2.3 Convenience stores Market 2023-2030 ($M)
1.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
1.2.5 Online Channel Market 2023-2030 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
2.1 Most Active Companies Market 2023-2030 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2023-2030 (Volume/Units)
3.1 By Product Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Regular Market 2023-2030 (Volume/Units)
3.1.2 Aromatic Market 2023-2030 (Volume/Units)
3.2 By Distribution Channel Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Roadsided Stores Market 2023-2030 (Volume/Units)
3.2.2 Municipal Corporation Markets Market 2023-2030 (Volume/Units)
3.2.3 Convenience stores Market 2023-2030 (Volume/Units)
3.2.4 Hypermarket/Supermarket Market 2023-2030 (Volume/Units)
3.2.5 Online Channel Market 2023-2030 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2023-2030 (Volume/Units)
4.1 Most Active Companies Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2023-2030 ($M)
5.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Regular Market 2023-2030 ($M)
5.1.2 Aromatic Market 2023-2030 ($M)
5.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Roadsided Stores Market 2023-2030 ($M)
5.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
5.2.3 Convenience stores Market 2023-2030 ($M)
5.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
5.2.5 Online Channel Market 2023-2030 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
6.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2023-2030 ($M)
7.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Regular Market 2023-2030 ($M)
7.1.2 Aromatic Market 2023-2030 ($M)
7.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Roadsided Stores Market 2023-2030 ($M)
7.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
7.2.3 Convenience stores Market 2023-2030 ($M)
7.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
7.2.5 Online Channel Market 2023-2030 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
8.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2023-2030 ($M)
9.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Regular Market 2023-2030 ($M)
9.1.2 Aromatic Market 2023-2030 ($M)
9.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Roadsided Stores Market 2023-2030 ($M)
9.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
9.2.3 Convenience stores Market 2023-2030 ($M)
9.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
9.2.5 Online Channel Market 2023-2030 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
10.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2023-2030 ($M)
11.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Regular Market 2023-2030 ($M)
11.1.2 Aromatic Market 2023-2030 ($M)
11.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Roadsided Stores Market 2023-2030 ($M)
11.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
11.2.3 Convenience stores Market 2023-2030 ($M)
11.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
11.2.5 Online Channel Market 2023-2030 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
12.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2023-2030 ($M)
13.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Regular Market 2023-2030 ($M)
13.1.2 Aromatic Market 2023-2030 ($M)
13.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Roadsided Stores Market 2023-2030 ($M)
13.2.2 Municipal Corporation Markets Market 2023-2030 ($M)
13.2.3 Convenience stores Market 2023-2030 ($M)
13.2.4 Hypermarket/Supermarket Market 2023-2030 ($M)
13.2.5 Online Channel Market 2023-2030 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
14.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Rice Market Revenue, 2023-2030 ($M)
2.Canada Rice Market Revenue, 2023-2030 ($M)
3.Mexico Rice Market Revenue, 2023-2030 ($M)
4.Brazil Rice Market Revenue, 2023-2030 ($M)
5.Argentina Rice Market Revenue, 2023-2030 ($M)
6.Peru Rice Market Revenue, 2023-2030 ($M)
7.Colombia Rice Market Revenue, 2023-2030 ($M)
8.Chile Rice Market Revenue, 2023-2030 ($M)
9.Rest of South America Rice Market Revenue, 2023-2030 ($M)
10.UK Rice Market Revenue, 2023-2030 ($M)
11.Germany Rice Market Revenue, 2023-2030 ($M)
12.France Rice Market Revenue, 2023-2030 ($M)
13.Italy Rice Market Revenue, 2023-2030 ($M)
14.Spain Rice Market Revenue, 2023-2030 ($M)
15.Rest of Europe Rice Market Revenue, 2023-2030 ($M)
16.China Rice Market Revenue, 2023-2030 ($M)
17.India Rice Market Revenue, 2023-2030 ($M)
18.Japan Rice Market Revenue, 2023-2030 ($M)
19.South Korea Rice Market Revenue, 2023-2030 ($M)
20.South Africa Rice Market Revenue, 2023-2030 ($M)
21.North America Rice By Application
22.South America Rice By Application
23.Europe Rice By Application
24.APAC Rice By Application
25.MENA Rice By Application

2.6%

2023 - 2028