Basmati Rice Market - Forecast(2023 - 2028)

Report Code: FBR 70848 Report Format: PDF + Excel

Basmati Rice Market Overview

Basmati Rice Market Size is estimated to reach $31.6 billion by 2027 and is poised to grow at a CAGR of 9.1% over the forecast period of 2022-2027. Basmati is a variety of long, slender-grained aromatic rice that is traditionally grown in India, Pakistan and Nepal. The aroma of basmati rice is due to the presence of the chemical 2-acetyl-1-pyrroline. It also contains amino acid, folic acid, thiamine and carbohydrates. The aroma, aesthetic taste and high nutritional values surge the demand for aromatic basmati rice. Government initiatives to increase production and strengthen the supply chain of basmati rice are expected to propel market growth. For instance, in November 2021 to boost exports of basmati rice, the Agricultural and Processed Food Products Export Development Authority and Basmati Export Development Foundation took steps to sensitize farmers involved in the cultivation of Basmati rice in key growing regions of India about the adoption of good agricultural practices. According to the United States Department of Agriculture, US rice imports have been increasing over the last 20 years, from about 10% of the domestic market to around 25% by 2019-2020 (August-July). Most U.S. rice imports are aromatic varieties from Asia - jasmine from Thailand and basmati from India and Pakistan. Such government support and imports of high-quality Basmati Rice propel the growth of the Basmati Rice Industry over the forecast period 2022-2027.

Basmati Rice Market Report Coverage

The report: “Basmati Rice Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Basmati Rice Market.

By Type: Parboiled and Raw.
By Species: White, Brown and Others.
By Pack Size: Retail Packaging and Institutional Packaging.
By End-use: Industrial, and Household.
By Distribution Channels: Traditional, Modern, Retail and HORECA.
By Geography: North America (the US, Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the Rest of Europe), Asia-pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia-pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, Asia-pacific held a dominant market share in 2021. The high production & consumption of rice as a staple food in this region are driving the Market.
  • The Basmati Rice Market Size is predicted to increase due to growing research for the development of high-yielding varieties of basmati rice.
  • However, the stringent regulation for export by developed countries may limit the market growth over the forecast period.
  • A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Basmati Rice Market Report.

Basmati Rice Market: Market Share (%) By region, 2021

Basmati Rice Market
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Basmati Rice Market Segment Analysis - By Type

The Basmati Rice Market based on type can be further segmented into Parboiled and Raw. The parboiled basmati rice segment held a dominant market share in 2021. It has high nutritional properties compared to white polished rice. It has low calories, fewer carbohydrates, more fiber, proteins, amino acids and folic acid. It also improves gut health and has less impact on blood sugar levels which drives the growth of the Basmati Rice Market Size.

However, Raw basmati rice is estimated to grow with the fastest CAGR of 10.6% over the forecast period 2022-2027. This is owing to its high nutritional content than any other type of rice. As per an article published in WebMD in August 2020, eating whole grains like brown basmati rice is linked to a lower risk of heart disease by reducing blood cholesterol levels and the risk of high blood pressure. This factor increases the demand for this type of basmati rice. This is also anticipated to grow its Basmati Rice market share over the forecast period.

Basmati Rice Market Segment Analysis - By End-use

The Basmati Rice Market based on the end-use can be further segmented into industrial and household. The Industrial segment held a dominant market share in 2021. This is owing to the growing demand for basmati rice in food & beverages, nutraceuticals, bakery and cosmetic industry. For instance, in April 2022, LT Foods launched Dawaat Biryani Kit for consumers to take authentic Biryani home. Such a variety of products made up of Basmati Rice are available in the market and their growing demand drives the growth of the Basmati Rice Market Share.

However, Household use is estimated to grow with the fastest CAGR of 11.0% over the forecast period 2022-2027. As rice is a staple food in Asian cuisines, it provides a good source of carbohydrates, proteins, folic acid and amino acids. As Asia holds about 60% of the global population, the demand for basmati rice continues to increase around the world. Such growing demand for Basmati Rice fuels the growth of the Basmati Rice Market Share over the forecast period.

Basmati Rice Market Segment Analysis - By Geography

Asia-pacific held a dominant market share of 40% in 2021 due to the high production and consumption rate of Basmati Rice in this region. According to a report published by Rice Today in August 2022, more than 90% of rice is consumed in Asia. China, India, Indonesia and Bangladesh are the top basmati rice-producing countries in this region further driving the growth of the regional market Size. Furthermore, Europe is estimated to grow with the fastest CAGR over the forecast period 2022-2027. This is owing to favorable trade tariffs and consumer demand for specific basmati rice features including amino acid, folic acid, thiamine and carbohydrates. This further drives the growth of the Basmati Rice Market over the forecast period.

Basmati Rice Market Drivers

Growing Demand for Aromatic Rice:

Basmati Rice is susceptible to most insect pests and diseases which minimize its production and quality. Owing to the growing demand for premium quality basmati rice, many research organizations developed a number of varieties of aromatic rice. In 2022, the Indian Agricultural Research Institute introduced three new varieties of basmati rice - PB1847, PB1885 and PB1886, with resistance to bacterial blight and blast disease. According to EU Agricultural Outlook 2020-2030, the demand for imported rice in this region is expected to grow until 2030. Hence, enhancing the market growth.

Growing Demand for High-Quality Basmati Rice:

The increasing per capita income of people and changes in lifestyle around the world increase demand for premium, high-quality food. According to a report by Tridge, the demand for basmati rice increased by 70% in 2020-21 in European Union. Moreover, India exported 231,930 Metric Tons of Basmati Rice to the EU from April 2020 to November 2020. Such growing demand for high-quality aromatic rice drives the growth of the market.

Basmati Rice Market Challenge

Strict Government Regulations for Import of Basmati Rice:

To export aromatic rice in developed countries, exporters have to follow various food safety measures, certificates of origin, quality standards and other required certificates. Also, the zero-tolerance policy for GMOs in many developed countries creates a major threat to the supply chain. In 2022, PUSA – 1121 basmati rice variety from India got rejected by the EU due to a high level of fungicide. It caused the sales dropdown from 500,000 tonnes per year to 150,000 to 2,00,000 tonnes per year. Such stringent regulations can restrain Basmati Rice Industry.

Basmati Rice Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Basmati Rice Industry. The top 10 companies in the Basmati Rice Market are:

  1. Adani Wilmar Ltd
  2. ITC
  3. East End Foods
  4. TBA Suntra
  5. Amira Basmati Rice
  6. VSR Rice
  7. The Rice 'n Spice International Ltd.
  8. Kohinoor Foods
  9. S.G.S. International Rice Company.
  10. LT Foods

Recent Developments

  • In May 2022, Adani Wilmar Ltd acquired the 'Kohinoor' brand from McCormick Switzerland GMBH. The acquisition would give AWL exclusive rights over the brand 'Kohinoor' basmati rice along with 'Ready to Cook' and 'Ready to Eat' curries and meals portfolio under the Kohinoor brand umbrella in India.
  • In July 2020, ITC Ltd announced the acquisition of spices manufacturer Sunrise Foods Private Ltd in an all-cash deal valued at Rs 2,150 crore, in order for the sellers to be eligible for contingency payment of up to Rs 150 crore.
  • In July 2019, Amira Nature Foods Ltd, a global provider of packaged Indian specialty rice, announced entering into a contract to supply approximately $18 million of third-party branded rice to a new customer in the EMEA region.

Relevant Titles

Report Code: FBR 96114

Report Code: FBR 10912

Report Code: FBR 35037 

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1. Basmati Rice Market - Overview
    1.1 Definitions and Scope
2. Basmati Rice Market - Executive Summary
3. Basmati Rice Market - Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Global Financial Analysis – Key Companies
    3.3 Market Share Analysis – Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Basmati Rice Market - Start-up Companies Scenario Premium
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Basmati Rice Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Basmati Rice Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Basmati Rice Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Basmati Rice Market – by Type
    8.1 Parboiled 
    8.2 Raw
9. Basmati Rice Market – by Species
    9.1 White
    9.2 Brown
    9.3 Others
10. Basmati Rice Market – by Pack Size
    10.1 Retail Packaging
    10.2 Institutional Packaging
11. Basmati Rice Market – by End-use
    11.1 Industrial
    11.2 Household
12. Basmati Rice Market – by Distribution Channels
    12.1 Traditional
    12.2 Modern
    12.3 Retail
    12.4 HORECA
13. Basmati Rice Market - by Geography
    13.1 North America
        13.1.1 The US
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 The UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Russia
        13.2.7 The Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 India
        13.3.3 Japan
        13.3.4 South Korea
        13.3.5 Australia & New Zealand
        13.3.6 The Rest of Asia-pacific
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Chile
        13.4.4 Colombia
        13.4.5 The Rest of South America
    13.5 The Rest of the World
        13.5.1 The Middle East
        13.5.2 Africa
14. Basmati Rice Market - Entropy
15. Basmati Rice Market – Industry/Segment Competition Landscape Premium 
    15.1 Market Share Analysis
        15.1.1 Market Share by Region – Key companies
        15.1.2 Market Share by Countries – Key Companies
    15.2 Competition Matrix
    15.3 Best Practices for Companies
16. Basmati Rice Market – Key Company List by Country Premium Premium
17. Basmati Rice Market - Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10

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LIST OF TABLES

1.Global Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
2.Global Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
3.Global Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)
4.Global Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 (Volume/Units)
5.Global Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 (Volume/Units)
6.Global Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 (Volume/Units)
7.North America Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
8.North America Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
9.North America Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)
10.South America Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
11.South America Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
12.South America Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)
13.Europe Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
14.Europe Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
15.Europe Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)
16.APAC Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
17.APAC Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
18.APAC Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)
19.MENA Basmati Rice Market Analysis and Forecast By Type Market 2019-2024 ($M)
20.MENA Basmati Rice Market Analysis and Forecast By Species Market 2019-2024 ($M)
21.MENA Basmati Rice Market Analysis and Forecast By Sales Channel Market 2019-2024 ($M)

LIST OF FIGURES

1.US Basmati Rice Market Revenue, 2019-2024 ($M)
2.Canada Basmati Rice Market Revenue, 2019-2024 ($M)
3.Mexico Basmati Rice Market Revenue, 2019-2024 ($M)
4.Brazil Basmati Rice Market Revenue, 2019-2024 ($M)
5.Argentina Basmati Rice Market Revenue, 2019-2024 ($M)
6.Peru Basmati Rice Market Revenue, 2019-2024 ($M)
7.Colombia Basmati Rice Market Revenue, 2019-2024 ($M)
8.Chile Basmati Rice Market Revenue, 2019-2024 ($M)
9.Rest of South America Basmati Rice Market Revenue, 2019-2024 ($M)
10.UK Basmati Rice Market Revenue, 2019-2024 ($M)
11.Germany Basmati Rice Market Revenue, 2019-2024 ($M)
12.France Basmati Rice Market Revenue, 2019-2024 ($M)
13.Italy Basmati Rice Market Revenue, 2019-2024 ($M)
14.Spain Basmati Rice Market Revenue, 2019-2024 ($M)
15.Rest of Europe Basmati Rice Market Revenue, 2019-2024 ($M)
16.China Basmati Rice Market Revenue, 2019-2024 ($M)
17.India Basmati Rice Market Revenue, 2019-2024 ($M)
18.Japan Basmati Rice Market Revenue, 2019-2024 ($M)
19.South Korea Basmati Rice Market Revenue, 2019-2024 ($M)
20.South Africa Basmati Rice Market Revenue, 2019-2024 ($M)
21.North America Basmati Rice By Application
22.South America Basmati Rice By Application
23.Europe Basmati Rice By Application
24.APAC Basmati Rice By Application
25.MENA Basmati Rice By Application
26.Competition Landscape, Sales /Revenue, 2015-2018 ($Mn/$Bn)