Rice Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 24, 2024 /EINPresswire.com/ -- The rice market has experienced robust growth in recent years, expanding from $32.74 billion in 2023 to $35.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to population growth and food demand, cultural significance, government policies and subsidies, income levels and urbanization, climate, and environmental factors.
What Is The Estimated Market Size Of The Global Rice Market And Its Annual Growth Rate?
The rice market is projected to continue its strong growth, reaching $49.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to sustainable agriculture practices, climate change adaptation, innovation in rice processing, global dietary shifts, e-commerce, and supply chain optimization.
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Growth Driver Of The Rice MarketA growing food and restaurant sector is expected to propel the growth of the rice market going forward. The food and restaurant sector refers to an industry that includes business that provides food to customers outside the house. This comprises eating establishments, takeout businesses, cafeterias, and restaurants. Rice is a frequent food essential for the food security of more than half the world's population, so an increasing food and restaurant sector will propel the rice market.
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Which Market Players Are Driving The Rice Market Growth?Key players in the market include LT Foods Ltd., KRBL Limited, Ebro Foods Inc., Aashirvad International, Lundberg Family Farms, Riviana Foods Inc., Adani Wilmar Limited, RiceSelect, PlanetRice, ConAgra Foods Inc., General Mills Inc., Carolina Plantation Rice, Riceland Foods Inc., Hain Celestial Group Inc., Pride India FMCG Limited, Kikkoman Corporation, Asia Golden Rice Co. Ltd., SunRice, Veetee Rice Limited, Kohinoor Foods Ltd., Chandrika Group, Tilda Group, Hanuman Rice Mills, Amar Singh Chawal Wala, Heritage Foods Limited, Capitol Group, Shiva Rice Mills, Daawat, Galaxy Rice Mills Pvt. Ltd., Doaba Rice Mills.
What Are The Emerging Trends Shaping The Rice Market Size?Major companies operating in the rice market are developing innovative products, such as rice-blend products, to meet larger customer bases, more sales, and increase revenue. Rice-blend products refer to food items that combine various types or varieties of rice, often mixed with other grains, seeds, or ingredients to create a diverse and flavorful blend.
How Is The Global Rice Market Segmented?1) By Type: Arborio Rice, Rosematta Rice, Red cargo Rice, Parboiled Rice, Sushi Rice, Wild Rice, Glutinous Rice, Other Types2) By Length: Long Grain Rice, Medium Grain Rice, Short Grain Rice3) By Color: White Rice, Brown Rice, Red Rice, Black Rice4) By Distribution Channel: Hypermarket, Supermarket, Convenience Store, Departmental Retail Stores, Online Stores, Other Distribution Channels5) By Application: Residential, Commercial
Geographical Insights: Asia-Pacific Leading The Rice MarketAsia-Pacific was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the market report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Rice Market DefinitionRice refers to a kind of cereal grain that serves as the main fuel source because it is a complex carb. Rice can include a significant amount of protein, iron, manganese, fiber, and vitamin B. It can be highly important in combating malnutrition.The main types of rice are arborio rice, rosematta rice, red cargo rice, parboiled rice, sushi rice, wild rice, glutinous rice, and others. Arborio rice refers to an Italian short-grain rice that is mostly used to make risotto the traditional way. The length of rice are long grain rice, medium grain rice, and short grain rice, with color texture in white rice, brown rice, red rice, and black rice. These are sold through various distribution channels such as hypermarkets, supermarkets, convenience stores, departmental retail stores, online stores, and others, and are used for residential and commercial applications.
Rice Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Macroeconomic factors affecting the market in the short and long run• Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global rice market report covering trends, opportunities, strategies, and moreThe Rice Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on rice market size, rice market drivers and trends and rice market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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September 24, 2024, 20:00 GMT
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