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, according to a recent report published by IndustryARC. The growth of this market is fueled by the U.S. being a principal exporter of rice with the international market accounting for about 45% of the annual sales volume of U.S.-produced rice and European imports of husked brown rice leaping almost by +6% y-o-y to 1.1 million tons with Belgium and Netherlands being the biggest brown rice importers in 2020. Poland, Belgium and the Netherlands displayed the highest growth rates pertaining to brown rice purchases among the leading importers. 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.

Read the full report by IndustryARC hereRice Market 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 - Global Opportunity Analysis & Industry Forecast, 2023-2030.

Asia-Pacific accounted for a significant market share in 2022:

Asia-Pacific led the Rice market with a 34.6% share of the overall market in 2022. The surging intake of basmati rice (a long-grained rice with a 6.61mm length grown in the Indian subcontinent and other Asian nations) is fueling the growth of the Asia-Pacific Rice industry, thereby contributing to the Rice industry outlook.

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Rice MarkeGrowth Drivers:

Surging Recognition of Vegan Rice is Driving the Growth of the Rice Market:

Rice is a delectable and versatile staple food that is effortless to include in various diets. There are different types of remarkable vegan rice dishes. One serving of rice can transform an ordinary can of spiced beans into a complete meal. Chinese-style “fried rice” can convert the previous night’s rice into a novel delicacy. Currently, 5% of the U.S. population is vegetarian and of these about half are vegans.

Veganism involves the intake of only plant-based products excluding even dairy products. Vegan diets need to be designed suitably to not result in malnutrition. Jasmine rice is 100% vegan and has rare health advantages like the presence of phytonutrients boosting healthy immune activity. The surging recognition of vegan rice is therefore driving the growth of the Rice Market.

Snowballing Applications of Black Rice and Red Rice are Propelling the Growth of the Rice Industry:

Black rice acquires its signature black-purple colour from a pigment termed anthocyanin which possesses powerful antioxidant characteristics. For every 3.5 ounces (100 grams), black rice includes 9 grams of protein in comparison with 7 grams for brown rice. The presence of antioxidants has been demonstrated to assist in safeguarding against heart ailments. Red rice is said to help weight loss. The fat content in red rice is zero and therefore, its intake cannot add weight to the body. Red rice is recommended for diabetic patients. The snowballing applications of black rice and red rice are therefore propelling the growth of the Rice Industry, thereby contributing to the Rice Industry Outlook.

Scope of Report:

Report Metric


Base year considered


Forecast period



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

Recent Developments:

  • In April 2022, LT Foods introduced Daawat Biryani Kit for customers to prepare authentic biryani at home with absolute convenience. LT Foods has been extending its product portfolio by way of innovation.
  • In June 2020, LT Foods introduced cuppa rice under “Daawat brand”. The earliest order was delivered to Indian Railways.

Rice Market: Competitive Landscape

Key companies profiled in the Rice Market are LT Foods Ltd, KRBL Limited, Aashirvad International, GIA Foods Ltd., Thai Hua (2511) Co., Ltd., Asia Golden Rice Co., Ltd., Lundberg Family Farms, Tanasan Rice Group (Tanasan Rice Co., Ltd. & Premium Rice Export Co., Ltd.), Ake Rice Mill Co., Ltd and Kohinoor Foods Limited.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.