Market Size:
The global brown rice market size was valued at USD 9.30 billion in 2020. The market is estimated to rise from USD 9.71 billion in 2021 to USD 13.27 billion by 2028 at a 4.57% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Brown Rice Market Size, 2021-2028.”
According to the study, heightened awareness about high-fiber foods and prebiotics has played an instrumental role in fueling the demand for whole grain rice. End-users are likely to seek specialty rice across advanced and emerging economies.
Market Growth:
The brown rice market has been experiencing notable growth owing to several key factors. Growing consumer awareness regarding the health benefits of brown rice, such as its high fiber content, vitamins, and minerals compared to white rice, has been a primary driver. As health-conscious lifestyles become more prevalent globally, the demand for nutritious food options like brown rice has surged. Additionally, the rise in the incidence of lifestyle diseases such as obesity, diabetes, and heart ailments has prompted consumers to opt for healthier dietary choices, further boosting the brown rice market. Furthermore, increasing preference for organic and non-GMO food products has led to a rise in the demand for organic brown rice. Moreover, initiatives by governments and NGOs to promote healthier eating habits have also played a role in driving market growth. Overall, with the continued emphasis on healthy living and sustainable agriculture, the brown rice market is expected to witness steady growth in the foreseeable future.
Source: https://www.fortunebusinessinsights.com/brown-rice-market-106455
Segments
Nature, Distribution Channel, and Region are Studied
Based on nature, the market is segmented into organic and conventional.
In terms of distribution channel, the industry is segregated into specialty stores, supermarkets/hypermarkets, online retail, and convenience stores.
On the basis of geography, the market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and South America.
Report Coverage
The research provides an integrated perspective of the worldwide market by elucidating both quantitative and qualitative evaluations. In addition, several primary interviews with suppliers, other stakeholders, and opinion leaders have been carried out. Primary data has been gathered via questionnaires, phone calls, and emails. Press announcements, SEC filings, and websites are the secondary sources that are mentioned. The report presents a thorough understanding of product mapping by highlighting top-down and bottom-up techniques.
Drivers and Restraints
Trend for Prebiotics to Usher Industry Growth
Whole grains have received impetus across North America, Europe, and Asia Pacific, partly due to the demand for fiber-rich foods to minimize the risk of lifestyle-related chronic health conditions. The brown rice market growth will witness an upward trajectory due to the prominence of vitamins B1, B3, and B6. Industry participants are likely to inject funds into whole grains to cash in on demand for high-fiber functional foods. Moreover, surge in obese population has expedited the product demand globally. The trend for organic food is likely to foster the industry outlook and will further gain impetus with increasing the FDA-approved list of whole grains.
However, volatile prices amidst changing weather conditions could dent the industry outlook.
Regional Insights
Growth to Unfold in Asia Pacific with Rising Prominence of Fiber-rich Products
Stakeholders expect the Asia Pacific brown rice market share to witness an appreciable gain in the wake of the adoption of a healthy lifestyle and shifting consumption pattern. Emerging economies, such as China and India, are poised to up their investments in unpolished rice. Leading companies are likely to bank on soaring discretionary income and burgeoning population.
The industry in North America is likely to be strong with soaring product consumption across the U.S. and Canada. Whole grain products have become trendier owing to escalating interest in prebiotic functional foods to boost gut health. With health experts promoting the need for high grain content food products in the diet, brown rice is poised to gain impetus.
Industry participants are expected to expand their penetration across Europe, largely due to the trend for specialty rice and whole grains. Baby boomers and millennials are likely to exhibit traction for brown rice to boost health and bolster immunity. The rising uptake of organic whole grain across Spain, Italy, and Germany will bode well for regional growth.
Competitive Landscape
Brown Rice Competitive Landscape
The brown rice market is experiencing steady growth, driven by increasing health consciousness and a growing preference for functional foods. Here's a breakdown of the competitive landscape:
Market Size and Growth:
The global brown rice market is expected to reach $13.27 billion by 2028, with a CAGR of 4.57%.
The rise in demand for healthier options is a major factor propelling this growth.
Competitors:
The market is dominated by conventional brown rice, but specialty rices like basmati brown are gaining traction.
Major players likely include established rice producers and distributors across the globe.
Competitive Factors:
Product Differentiation: Offering unique varieties like basmati brown rice or pre-cooked options can be a competitive advantage.
Health Focus: Highlighting the nutritional benefits of brown rice, such as its fiber content and potential health improvements, is key.
Distribution Channels: Wider availability in supermarkets and online retailers increases brand reach.
Pricing: Balancing price competitiveness with product quality is important.
Emerging Trends:
The demand for organic brown rice is expected to rise as consumers seek out natural and sustainable products.
Convenience will be a key factor, with pre-packaged and easy-to-cook options gaining popularity.
Key Industry Developments
March 2021: KRBL Limited extended its health food products portfolio with the product launch of brown basmati rice.
February 2021: Lotus Foods announced the launch of new ‘heat and eat’ rice pouches to its premier line of products.
Major Players Profiled in the Report:
KRBL Limited (India)
LT Foods Ltd. (India)
Riviana Foods, Inc. (U.S.)
Kohinoor Foods Limited (India)
Lundberg Family Farms (U.S.)
Hain Celestial Group (U.S.)
New Bharat Group Rice Mills (India)
Pride India FMCG Limited (India)
Kikkoman Corporation (Japan)
Sukoyaka Brown Rice (Japan)