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.
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 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.
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.
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.
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.
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.
1. Executive Summary
2. Rice Industry Snapshot
2.1. Rice Market Outlook
2.2. Country Overview
3. Impact of Recent Events
4. Rice Value Chain Analysis
5. Rice Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Rice Cost Structure
9. Rice Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Rice Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. KRBL Ltd.
14.2. LT Foods Ltd.
14.3. Kohinoor Foods Ltd.
14.4. Agri Global Inc.
14.5. REI Agro Ltd.
14.6. Supple Tek Pvt Ltd.
The global Rice market size was valued at 478 MMT in 2021.
As per the end-use provided, the Domestic Consumption segment is anticipated to lead the market between 2022 and 2027.
The significant demand for rice for domestic consumption is one of the essential drivers of the Rice market growth.
KBRL Ltd., L.T. Foods, Kohinoor Foods Ltd., Lakshmi Energy and Foods Ltd., and REI Agro are some of the key players in the market.
The India region of the Rice industry holds a significant share in the market.
The global Rice market attained a value of 478 MMT in 2021, driven by the rising prevalence of rice as the world's second most significant cereal crop. 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. The industry is being driven by the demand for speciality and exotic types of rice, such as basmati jasmine, red rice, etc. As a result, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 1.2%. The market is projected to reach 538.55 MMT by 2027. Some of the leading players in the industry are KBRL Ltd., L.T. Foods, Kohinoor Foods Ltd., Lakshmi Energy and Foods Ltd., and REI Agro.
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