Rice Global Market Report 2023
Major players in the rice market are LT Foods Ltd., KRBL Limited, Ebro Foods Inc., Aashirvad International, Lundberg Family Farms, Riviana Foods Inc., Adani Wilmar Limited, RiceSelect, Planet Rice, ConAgra Foods Inc.
New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rice Global Market Report 2023" - https://www.reportlinker.com/p06463984/?utm_source=GNW
, General Mills Inc., Carolina Plantation Rice, Riceland Foods Inc., Hain Celestial Group Inc., Pride India FMCG Limited, and Kikkoman Corporation.
The global rice market is expected to grow from $28.06 billion in 2022 to $30.00 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rice market is expected to reach $38.73 billion in 2027 at a CAGR of 6.6%.
The rice market consists of calrose rice, rosematta rice, cialone nano rice.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Rice refers to a kind of cereal grain that serves as the main fuel source because it is a complex carb.Rice can include a significant amount of protein, iron, manganese, fibre, and vitamin B.
It can be highly important in combating malnutrition.
Asia-Pacific was the largest region in the Rice market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in rice report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of rice are arborio rice, rosematta rice, red cargo rice, parboiled rice, sushi rice, wild rice, glutinous rice, and others.Arborio rice refers to an Italian short-grain rice that is mostly used to make risotto the traditional way.
The length of rice are long grain rice, medium grain rice, and short grain rice, with color texutre in white rice, brown rice, red rice, and black rice. These are sold through various distribution channels such as hypermarkets, supermarkets, convenience stores, departmental retail stores, online stores, and others, and are used for residential and commercial applications.
A growing food and restaurant sector is expected to propel the growth of the rice market going forward.The food and restaurant sector refers to an industry that includes business that provides food to customers outside the house.
This comprises eating establishments, takeout businesses, cafeterias, and restaurants.Rice is a frequent food essential for the food security of more than half the world’s population, so an increasing food and restaurant sector will propel the rice market.
For instance, in February 2023, according to a report published by National Restaurant Association, a US-based restaurant industry business association, the foodservice industry is expected to generate $997 billion in sales in 2023, a significant increase from the $898 billion in sales predicted in 2022. Additionally, in February 2023, according to a report shared by the United States Department of Agriculture (USDA), a US-based federal executive department responsible for executing federal laws related to farming and forestry, the expenses associated with eating out in restaurants, cafeterias at schools, sporting events, and other places increased by 7.5% in December 2022 compared to November 2022 and by 13.5% compared to December 2021. Therefore, the growing food and restaurant sector is driving the growth of the rice market.
Product innovations are a key trend gaining popularity in the rice market.Major companies operating in the rice market are focused on innovating new products to sustain their position in the market.
For instance, in June 2022, Roquette, a France-based producer of plant-based ingredients, launched Nutralys, a new rice protein, to meet consumer demand for meat alternatives.The new rice protein features nutritious protein integrated with high production standards and high quality for consumers worldwide.
Nutralys provides a plant protein source that is non-GM and gluten-free to pair with Roquette’s Nutralys pea protein for a complete vegetarian protein supplement for specialized nutrition.
In May 2022, Adani Wilmar Ltd., an India-based fast-moving consumer goods (FMCG) company, acquired the Basmati rice brand ’Kohinoor’ from McCormick Switzerland GMBH for an undisclosed amount. This acquisition would grant Adani Wilmar Limited exclusive rights over the ’Ready to Cook’, ’Ready to Eat’, and meal portfolios sold under the Kohinoor Brand name in India. Kohinoor Speciality Foods is an India-based producer of rice.
The countries covered in the rice market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The rice market research report is one of a series of new reports that provides rice market statistics, including rice industry global market size, regional shares, competitors with a rice market share, detailed rice market segments, market trends and opportunities, and any further data you may need to thrive in the rice industry. This rice market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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