Basmati Rice Market expected to reach an estimated value of USD 26.89 billion by 2032 at 9.00% CAGR
Research Reports
Jul 15, 2024
Basmati Rice Market Overview
Basmati Rice Market Size is Anticipated to Reach at a USD 26.89 Billion by 2032 with CAGR of 9.00% by 2024 – 2032.
Basmati rice, renowned for its distinctive aroma, long grains, and exquisite flavor, holds a prestigious place in the global rice market. Basmati rice is a product of the Indian subcontinent and has become quite popular because of its exceptional quality and distinctive features. It is a common ingredient in many international cuisines, especially those from South Asia and the Middle East, and demand for it is only rising. Key factors driving the basmati rice market are the growing popularity of ethnic cuisines, the growing awareness of health issues, and the premium positioning of basmati rice as a high-quality product.
Key Players
Adani Wilmar Ltd, ITC, East End Foods, TBA Suntra, Amira Basmati Rice, VSR Rice, The Rice ‘n, Spice International Ltd., Kohinoor Foods, S.G.S. International Rice Company., LT Foods
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Market Segmentation
By Type
Parboiled
Parboiled basmati rice undergoes a special processing technique where the rice is partially boiled in the husk, which helps retain more nutrients and enhances the grain’s texture and flavor. This type of rice is popular for its improved nutritional profile and cooking quality. Parboiled basmati rice tends to be firmer and less sticky, making it a preferred choice for a variety of dishes, particularly in regions where rice is a dietary staple.
Raw
Raw basmati rice, in contrast, is milled without the parboiling process, retaining its natural taste and aroma. It is favored for its delicate texture and rich flavor, which are prized in culinary traditions that emphasize the natural characteristics of the grain. Raw basmati rice is extensively used in traditional dishes, including biryanis and pilafs, where its fragrance and long, slender grains enhance the overall dining experience.
By Species
White
White basmati rice is the most commonly consumed variety, known for its polished white grains and aromatic flavor. It is a staple in many households and is used in a wide range of dishes. The ease of cooking and versatile nature of white basmati rice makes it a popular choice in both domestic and international markets.
Brown
Brown basmati rice retains its bran layer, offering higher fiber content and more nutrients compared to white basmati rice. This variety is gaining popularity among health-conscious consumers who prefer whole grains for their dietary benefits. Brown basmati rice has a nuttier flavor and a slightly chewy texture, making it suitable for health-focused recipes.
By Pack Size
Retail Packaging
Retail packaging targets individual consumers and small families. These packages typically range from 1 kg to 10 kg and are designed for convenience and ease of use. Retail packaging is crucial for supermarkets, grocery stores, and online retail channels, making basmati rice accessible to a broad audience.
Institutional Packaging
Institutional packaging is aimed at bulk buyers, including hotels, restaurants, catering services, and food processing industries. These packages are usually larger, ranging from 10 kg to 50 kg or more, and offer cost-effective solutions for businesses that require significant quantities of basmati rice for their operations.
By End Use
Industrial
The industrial end-use segment includes food processing companies that use basmati rice as an ingredient in ready-to-eat meals, snacks, and other food products. This segment also covers the export market, where basmati rice is processed and packaged for international distribution.
Household
The household segment represents individual consumers who purchase basmati rice for daily cooking. This segment is driven by the growing preference for high-quality, aromatic rice varieties in home-cooked meals. The increasing popularity of ethnic cuisines and health-conscious eating habits also boost demand in this segment.
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By Distribution Channel
Traditional
Traditional distribution channels include local grocery stores, specialty rice shops, and open markets. These channels are significant in regions where consumers prefer to purchase rice from familiar, trusted sources.
Modern Retail
Modern retail channels consist of supermarkets, hypermarkets, and large retail chains that offer a wide variety of basmati rice brands and packaging options. These stores provide a convenient shopping experience and often feature promotional offers and discounts, attracting a broad customer base.
E-commerce
E-commerce platforms have become increasingly important for the basmati rice market, offering consumers the convenience of online shopping and home delivery. The rise of digital marketplaces has expanded the reach of basmati rice brands, enabling them to cater to a global audience. Online retail channels also allow for easy comparison of prices and product reviews, enhancing the consumer shopping experience.
HORECA
One of the largest markets for basmati rice is represented by the HORECA (Hotels, Restaurants, and Catering) segment. This channel needs rice varieties that are consistently of the highest caliber and uphold the norms of professional kitchens. The hospitality and food service sectors, which use basmati rice for a range of culinary applications, are the main drivers of demand from this market segment.
Regional Analysis
Asia-Pacific
India and Pakistan are the main producers and exporters of basmati rice, and the Asia-Pacific area is the greatest market for this grain. The exceptional quality of basmati rice is a result of these nations’ ideal climate and extensive agricultural history. The market in this area is being driven by the expanding middle class, rising disposable incomes, and increased demand for high-quality food goods. Particularly, India is the world’s biggest importer and consumer of basmati rice, with the states of Uttar Pradesh, Punjab, and Haryana making major amounts.
North America
Due to the rising popularity of ethnic cuisines and increased knowledge of basmati rice’s health benefits, the market for basmati rice in North America is booming. With a diversified consumer base that includes South Asian groups and health-conscious people, the United States and Canada are important markets. The proliferation of e-commerce platforms and the emergence of specialized food stores are contributing to the growth of the basmati rice industry in this region.
Europe
France, Germany, and the United Kingdom are the top three countries in Europe where basmati rice is currently being consumed. The market is driven by the growing demand for aromatic, high-quality rice types as well as the growing appeal of Middle Eastern and Indian cuisines. Additionally, customers in Europe are growing more health-conscious and choosing basmati rice over other types of rice because it is a healthier option. The European Union’s strict regulations and quality requirements guarantee the entry of high-grade basmati rice products.
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