Europe Basmati Rice Market
Europe Basmati Rice Market Size & Share Analysis - Growth Trends, Industry Competition & Forecasts (2024-2030)
The Europe Basmati Rice Market size was valued at around USD 589.2 million in 2023 & is projected to reach USD 817.4 million by 2030. The market is expected to grow at a CAGR of about 4.79% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Improvements in demand for Basmati rice are shown by the European countries owing to two main factors, i.e., an increasing rate of tourists and immigrants. A broader population of consumers with varied culinary tastes has been established, which demand uniquely aromatic and flavored rice like Basmati rice. The consumption of cultural cuisines, especially those originating from the subcontinent, where Basmati rice is a staple food, has increased. In addition, a combination of traditional and contemporary eating cultures is presented by the changing demographics, where the trend now embraces foreign and international food, hence contributing to the growth & expansion of the Basmati Rice Market.
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Europe Basmati Rice Market Segmentation Analysis
By Packet Weight (Upto 2 Kg, 2.1 to 5 Kg, 5.1 to 10 Kg, Above 10 Kg)
By Origin (India, Pakistan)
By Type (Parboiled, Raw)
By End User (Households, Commercial)
By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online)
By Countries (Germany, France, The UK, Italy, Spain, The Netherlands, Rest of Europe)
Indian Basmati Rice Holds a Major Market Share
Based on origin, the market is further bifurcated into India and Pakistan. Indian basmati rice has a prominent market share in the Europe Basmati Rice market. This preference has developed among European consumers owing to the unique aroma and flavor of Indian Basmati rice. Additionally, increasing recognition of the health benefits linked to Indian Basmati rice, such as its ability to lower heart attack risk, reduce cholesterol, and help in weight management, has further improved its acceptance. As European consumers become more aware of these benefits, their preference for Indian Basmati rice over other varieties has intensified.
Moreover, strategic market initiatives and stronger trade relations between Europe and India have significantly augmented the import volumes of Indian Basmati rice. This enhanced availability, along with its well-established reputation for quality, is anticipated to drive segmental growth in the coming years.
The UK Leads the Europe Basmati Rice Market
Geographically, the UK has experienced substantial growth in the Europe Basmati Rice Market over the historical period. As the principal importer of basmati rice, primarily sourced from India, the UK's increasing demand is fueled by its expanding population and the rising influx of tourists. Tourists from Asian countries have been observed to prefer cuisines made from basmati rice. Observing this improved demand for dishes made from basmati rice, several restaurants & cafes have started to offer such cuisines across the region. Hence, with tourist expansion, the demand for basmati rice is expected to amplify across the region in the coming years as well.
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Competitive Landscape
With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Amira Nature Foods, Al Fiza Herbal, Estraco Kft., East End Foods, Baghel Agro Industries, Shree Krishna Rice Mills, Veetee, Tizara Group, The Rice N Spice International Ltd., Kohinoor Foods, Dawat, Surya Foods, and others, are looking forward to strengthening their market positions.
Key Questions Answered in the Research Report
What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
What are the market trends influencing the current scenario of the market?
What key factors would propel and impede the industry across the region?
How has the industry been evolving in terms of geography & product adoption?
How has the competition been shaping up across the various countries?
How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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