Global Rice Market By Product Type (Long-grain, Medium-grain, and Short-grain), By Distribution Channel Type (Offline, and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Rice Market Overview:

The global rice market value was USD 293,773.9 Million in 2021. It is expected to grow at a CAGR of 2.35% between 2023 and 2032.

Market growth is expected to be aided by the expanding restaurant and food industry worldwide. More than half the world’s population eats rice as a staple food. The largest market for the product is in the Asia Pacific, which has seen significant market growth. The product demand is increasing in emerging countries due to the continuous improvement in rice mill machinery worldwide and the attractive packaging.

Global Rice Market Scope:

Product Type Analysis

Long-grain was the segment with the highest revenue share, more than 63%, in the global rice market in 2021. It is expected to grow at a CAGR of 2.1% between 2023 and 2032. Market growth is being driven by the increasing popularity of specialty rice like basmati and jasmine across the globe. To protect against cancer, consumers are increasingly looking for high-fiber foods and low sodium. This is driving the market’s growth over the past few years.

Medium-grain is expected to grow at 2.4% between 2023 and 2032. The market is growing because rice is a convenient and healthy option for nutritious and healthy food. It is available through retail channels which are driving its growth. This segment is expected to grow due to technological advancements and improvements in rice mill machinery. Market growth is also driven by the rising popularity and demand for fast food, as well as the increasing disposable income of the consumers.

Distribution Channel Analysis

In 2021, the offline channel accounted for more than 82% of the global rice market. For groceries and consumer goods, consumers prefer the offline channel. They can also verify the quality of the products. The segment will grow due to its easy accessibility and ability to search for different grains in stores. Due to the improvement in distribution networks around the world, offline channels will continue to dominate the forecast period.

From 2023 to 2032, the online market will experience the fastest CAGR at 2.7%. In recent years, the internet penetration rate has seen significant growth. This has led to a large demand for the eCommerce sector. Many suppliers offer the product on their websites and on eCommerce platforms. This is expected to fuel market growth over the forecast period.

Key Market Segments:

By Product Type:

• Long-grain
• Medium-grain
• Short-grain

By Distribution Channel:

• Offline
• Online

Market Dynamics

The market is growing because of the increasing demand for specialty varieties of rice. The market is expected to grow significantly due to the changing food habits and lifestyles of consumers. The global market is expected to grow due to the increasing population and rising disposable income.

Producers offer a variety of products, including jasmine, basmati, and white, brown, wild, and brown rice. Rice is a strategic commodity that is controlled by governments in different countries. This is due to its importance as a staple food in many developing and advanced economies. The market is also growing faster due to increased demand from European and Gulf countries for high-quality, high-quality rice.

The rice industry has not seen a significant impact from the lockdowns that were announced during the COVID-19 Pandemic. Market growth is being driven by the growing demand for cereal grains around the world. Market players will have opportunities due to the rising demand for packaged and fast food following the COVID pandemic. The market will experience a healthy rate of growth in the coming years.

Regional Analysis

The Asia Pacific was the dominant market for rice, accounting for a revenue share of over 50.0% in 2021. This is due to the abundance of raw materials and the high concentration of product makers. Low-cost labor is one of the main factors driving market growth in the Asia Pacific.

The product is not well-received in Japan’s product sector due to its large imports of luxury goods and footwear. Japan has a well-established vehicle industry and consumes a lot of the product. The country’s product market will be driven by rising demand from the automotive industry.

North America is the region with the fastest growing rice market. It is expected that it will grow at 3.9% between 2021 and 2032. The market is growing due to the increasing demand for specialty and fragrant rice in the U.S. Market growth will also be driven by the growing consumption of fast food products in the U.S.A and Canada, which are high in nutrition and high in fiber.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Companies & Market share Insights:

There are many established players in the market, as well as local manufacturers that can be found across different regions. To expand their businesses, many manufacturers and suppliers are constantly focusing on logistics development and strengthening the distribution channel.

These initiatives will increase the product’s acceptance rate among consumers all over the world. Market growth is further fueled by joint ventures, mergers, and innovative packaging designs.

Кеу Маrkеt Рlауеrѕ іnсludеd іn thе rероrt:

• Kohinoor Foods Ltd.
• Adani Wilmar Limited
• LT Foods
• KRBL Limited
• Aeroplane Rice Ltd.
• Sridhar Agro Product P Ltd
• Gautam General Trading LLC
• Sri Sainath Industry Pvt. Ltd
• Shriram Food Industry Pvt. Ltd.
• Aashirvad International
• Other Key Players

For the Rice Market research study, the following years have been considered to estimate the market size: