Rice Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Rice market reached a value of about 501.3 MMT in 2021. The industry is projected to grow at a CAGR of around 1.2% in the forecast period of 2022-2027 to reach a value of about 538.55 MMT by 2027.

The global Rice industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is primarily driven as rice is a staple dish widely consumed worldwide. In the industry report, the key demand indicator is the highest category spender by region—India.

Industry Definition and Segmentation

Rice is the seed of the grass species Oryza sativa; it is a starchy cereal grain that is edible and the grass plant that produces it (family Poaceae). Rice is a staple meal for almost half of the world's population, including all of East and Southeast Asia. Rice may be prepared by boiling or crushed into flour. It is eaten alone or in a wide range of soups, side dishes, and main entrees. Breakfast cereals, noodles, and alcoholic drinks like sake are all examples of rice-based items. The Rice industry report comprises segments by region (China, India, Indonesia, and Bangladesh).

India Driving the Growth of the Rice Industry

India is the largest producer of rice, leading the market growth. India is the world's largest exporter of rice, and it accounts for about a quarter of all worldwide rice exports. In addition, India is the world's biggest exporter of basmati rice. Saudi Arabia, the United Arab Emirates, and Iraq are the top rice importers from India. It also leads the market due to the high demand from consumers in the country. Rice is a staple dish in the region and is consumed by the whole country, propelling the market's expansion.

The market is witnessing growth as rice is the world's second most significant cereal crop, and it assures food security in several regions. It is a popular commodity and is widely consumed, so the market is likely to expand. Furthermore, the product offers a wide range of nutritional benefits and is a good source of complex carbs, vitamins, and minerals, propelling the industry's expansion. With the growing consumer shift towards the consumption of carbohydrate-based diets owing to changing lifestyles and consumption patterns, the market is likely to have a positive impact.

However, the decline in the productivity of rice production is likely to hamper the industry's expansion.

Best Procurement Practices

The global Rice industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Rice regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers.

Category Management Studies

The fields are first ploughed, then fertiliser, generally cow dung, is applied, and the surface is smoothed. The seeds are transplanted by hand, and then the seeds are nurtured with sufficient watering. Rice thrives in various soil types, including silts, loams, and gravel. This crop flourishes if the soil remains damp and is submerged during its growth years; therefore, proper care is required. Rice fields should be flat, with low mud walls for water retention.

Recent Trends Driving the Procurement of Rice

The industry is being propelled by the demand for speciality and exotic types of rice, including basmati or jasmine. Red rice is a popular type of rice tinted red due to the presence of anthocyanins. Red rice has the greatest nutritional content among all rice types. An increase in the number of new rice brand launches, rising rice export trends, and rising government policies initiatives to develop and commercialise major domestic rice production industries. Also, rice consumption as a primary meal and demand for specific rice types from places like the Middle East for use in delicacies and during festive seasons are two significant drivers driving expansion.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Rice Industry Report

• KBRL Ltd.
• L.T. Foods
• Kohinoor Foods Ltd.
• Lakshmi Energy and Foods Ltd.
• REI Agro

Market Landscape

Rice market companies use product launches, mergers and acquisitions, joint ventures, and R&D efforts as effective tactics. The market's leading competitors concentrate on rice's market share.

Key Initiatives by Companies

• ITC joined the crowded Indian rice market in December 2018 with Sona Masoori, a good non-basmati rice variety.
• In January 2017, Ebro Foods, S.A. combined with Riviana Foods Inc., American Rice, Inc., and New World Pasta Company, forming the world's biggest rice maker and marketer and the world's second-largest producer and distributor of pasta products.