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Basmati Rice Market Size, Segmentation, Top Manufacturers and Forecast to 2030

The basmati rice market report for the year 2023 consists of a detailed marketing segmentation based on various regions, applications and types. This report will present to you the detailed research or analysis that is done to represent the internal insights with respect to the benefits the industry has provided to the vendors, stakeholders or other participants. 

Description Of the Basmati Rice Market in India

The basmati rice market in India reached around INR 485.1 billion, and it is predicted that the revenue will cross the mark of INR 500 billion by the end of 2030. The growth rate is projected to be at a booming stage, which is helping the Indian basmati rice market to grow on a thriving scale. 

When considered on a global scale, the basmati rice market is expected to generate a revenue of around $356 billion by the end of 2030 and at a growth rate of 2.6%. 

Basmati rice refers to the unique long-grain species of aromatic rice, which originates in the Indian subcontinent. It is also referred to as commonly available, mostly in the brown or white varieties, and has a floral scent with a nutty flavour. Moreover, basmati rice is also rich in various vitamins, zinc, potassium, magnesium and other such nutrients. 

Considering this nutrient and its remarkable taste, basmati rice is considered the primary ingredient for the preparation of various dishes all across India. With the rising preference for basmati rice among the people of India, the market size of the industry is collectively booming with a high CAGR rate and increased revenue count. 

What Regions are Leading the Basmati Rice Market?

North America has been contributing immensely to the overall revenue of the basmati rice market, among others, for which it is the leading region for the industry. Europe is second on the list, which has put up substantial growth figures for the basmati rice market. The next regions in the list of their leading order are Asia-Pacific, South America and Middle East & Africa. 

Who are Considered the Largest Manufacturers of the Basmati Rice Market Worldwide?

The Basmati rice market is picking up pace to acquire high revenue in the forthcoming years, and there are some major basmati rice manufacturers in India and on a global scale who are scaling the sales rate of respective basmati products. These manufacturers tend to meet the rising demands with ample supply, which is a winning move for the growth of this industry. Some of the largest basmati rice companies in India and other parts of the world are:

  • KRBL Limited
  • India Gate Foods
  • Amira Nature Foods
  • LT Foods
  • HAS Rice Pakistan
  • Aeroplane Rice
  • Matco Foods
  • Sungold
  • Kohinoor Rice
  • Hanuman Rice Mills
  • Adani Wilmar
  • Best Foods
  • Amar Singh Chawal Wala
  • Dunar Foods
  • Tilda Basmati Rice
  • Galaxy Rice Mill

What are the Various Factors that are Driving the Growth of Basmati Rice Industry on a Global Scale?

Some of the factors that are responsible for impacting the growth of the basmati rice market positively on a global scale are:

  • Horeca

Horeca is referred to as the hotel and food service industries that accept basmati rice as their staple food ingredient, which is consumed by people in high demand. Every restaurant or hotel experiences immense demand or requests from their guests to serve them with basmati rice. Such a demand contributes to increased production and sales of basmati rice, leading to the growth of the market. 

  • Modern Trade

Modern trade of basmati rice is executed when various countries are importing rice from India and Pakistan. India is the biggest exporter of basmati rice, and the rise of demand in the world for Indian basmati has helped the market boom to substantial heights and generate great revenues in the prior forecast periods. 

  • Convenience Store

Convenience stores are meant to offer people all types of livelihood necessities, such as financial services, food, groceries, fuel and others. All the convenience stores across the world are now stocking up on basmati products, which is contributing towards the increased sales rate and a substantial boost to the hike in the industry’s revenue. 

  • Online Store

After the pandemic crisis, the trend for ordering foods and groceries online has immensely increased. Moreover, there is an increase in the count of on-demand grocery apps, which is helping people order their pack of basmati rice and other goods from the comfort of their homes. This is what contributes immensely to the growth of the basmati rice market in the present forecast period. 

  • Traditional Grocery Store

Traditional grocery stores have always been a significant contributor to the industry’s growth because these shops have loyal customers who prefer buying basmati or other products only from them! This is what leads these store owners to generate a healthy revenue by selling basmati to a large group of young and elderly group of audience. 

Conclusion

This report is a clear indication that the basmati rice market is expected to boom in the forthcoming times by the end of 2030. The CAGR is substantially high for the market, and the key players are putting in immense effort to scale their production rate to meet the constantly rising demands. This way, the basmati rice industry is definitely in a winning position, which is inviting more budding players to join the market!

 

Category: Ricing Since Centuries
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