Packaged Basmati Rice Market was valued at USD 4.5 Billion in 2022 and is projected to reach USD 7.2 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The packaged basmati rice market is experiencing significant growth, driven by evolving consumer preferences, policy changes, and global trade dynamics. This article delves into the current state of the market, emerging trends, and future projections, providing a comprehensive analysis for stakeholders and consumers alike.
Basmati rice, renowned for its unique aroma and long grains, has traditionally been a staple in South Asian cuisine. In recent years, its popularity has transcended regional boundaries, leading to a surge in global demand. The convenience of packaged basmati rice has further propelled its acceptance among consumers seeking quality and ease of preparation.
As of 2023, the global packaged basmati rice market was valued at approximately USD 28.44 billion. Projections indicate a robust growth trajectory, with expectations to reach USD 48.27 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 7.85% during the forecast period from 2024 to 2030. This growth is attributed to increasing health consciousness among consumers and a rising preference for premium rice varieties. Source
The United States represents a significant market, with an estimated value of USD 7.8 billion in 2022. Meanwhile, the Asia-Pacific region, particularly China, is anticipated to exhibit substantial growth, with a projected CAGR of 12.9%, aiming for a market share of USD 13.2 billion by 2030. Other notable markets include Japan and Canada, with expected growth rates of 6.9% and 7.3%, respectively. Europe, led by Germany, is also poised for expansion at an approximate CAGR of 7.3%. Source
Government policies significantly impact the basmati rice trade. In September 2024, India removed the minimum export price (MEP) for basmati rice, previously set at $950 per metric ton. This policy shift is expected to boost export orders from regions including the Middle East, Europe, and the Americas, allowing Indian exporters to offer more competitively priced basmati rice and potentially reclaim market share lost to Pakistan. Source
The market comprises several key players contributing to its growth and competitiveness:
Adani Wilmar Ltd.
Amira Nature Foods Ltd.
Hain Celestial Group
KRBL Limited
LT Foods Ltd.
McCormick & Co., Inc.
These companies are actively engaged in expanding their product portfolios, enhancing distribution networks, and adopting innovative marketing strategies to cater to the evolving consumer demands. Source
There is a notable shift towards packaged and ready-to-cook products, driven by busy lifestyles and the need for convenience. Packaging not only ensures longer shelf life but also enhances product visibility. The rise of e-commerce platforms and the expansion of retail chains have made packaged basmati rice more accessible to consumers worldwide. Additionally, the trend of gourmet cooking at home has increased the demand for premium basmati rice varieties, as consumers seek to elevate their culinary experiences. Source
Despite the positive outlook, the market faces challenges, including fluctuations in raw material prices, stringent quality standards, and the need for sustainable farming practices. Companies must navigate these challenges to maintain profitability and meet consumer expectations.
The packaged basmati rice market is poised for sustained growth, driven by increasing global demand, favorable policy changes, and evolving consumer preferences. Stakeholders should focus on innovation, quality assurance, and strategic expansions to capitalize on emerging opportunities in this dynamic market.
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Adani Wilmar
Amira Nature Foods
Hain Celestial
KRBL
LT Foods
McCormick
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Packaged Basmati Rice Market
Supermarket
Convenience Store
Other
Based on Types the Market is categorized into Below types that held the largest Packaged Basmati Rice market share In 2023.
Dry Basmati Rice
Parboiled Basmati Rice
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Packaged Basmati Rice Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Packaged Basmati Rice Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Packaged Basmati Rice Market, By Type
6. Global Packaged Basmati Rice Market, By Application
7. Global Packaged Basmati Rice Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Packaged Basmati Rice Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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