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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Rice Market Trends
Consumer are shifting towards premium rice varieties like Basmati and organic rice, due to increasing disposable incomes, which is contributing to rice market revenue. Government policies and support in major rice-producing countries, such as subsidies and minimum support prices, also bolster production and market stability.
There is a rising demand for convenience foods, leading to the popularity of processed rice products like instant rice and rice snacks. Sustainability is becoming a significant focus, with consumers and producers alike showing interest in sustainable farming practices and eco-friendly packaging. Developments in the rice market include the expansion of e-commerce platforms, facilitating easier access to a wide variety of rice products for consumers.
Rice Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The rice market was valued at USD 323.70 billion in 2023.
The rice market is projected to grow at a CAGR of 3.1% between 2024 and 2032.
The revenue generated from the rice market is expected to reach USD 425.23 billion in 2032.
The major drivers of the market include changing eating habits due to altering lifestyles and growing demand from Asian and South Asian countries due to increasing population.
The key trends of the market include rising focus of manufactures towards producing high quality rice grains, development of rice mill machineries, and adoption of attractive packaging.
The various types of rice available in the market are arborio rice, rosematta rice, red rice, parboiled rice, sushi rice, brown rice, basmati rice, and black rice, among others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market key players are Riceland Foods Inc., LT Foods Ltd., Ebro Foods, S.A., Adani Wilmar Ltd., McCormick & Company, Incorporated, KRBL Limited, ITC Limited, Riviana Foods Inc., LaGrande Family Food Groups, and Conagra Brands, Inc. among others.
The market is categorised according to the distribution channels, which include offline and online.
Based on the end use, the market is divided into food, feed, and others.
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