Global Basmati Rice Market Report and Forecast 2023-2028

Global Basmati Rice Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global basmati rice market reached a value of USD 6.09 billion in 2022. Aided by the global demand for premium long-grain rice and the multifaceted applications of Basmati rice in various culinary traditions, the market is projected to further grow at a CAGR of 5.49% between 2023 and 2028 to reach a value of USD 8.15 billion by 2028.

Basmati rice, revered for its aromatic fragrance, slender grains, and delightful taste, originates from the Indian subcontinent. It forms the cornerstone of numerous dishes, especially in South Asian, Middle Eastern, and Persian cuisines. Renowned for its nutty flavour and unique texture, Basmati rice offers more than just a culinary delight. It is rich in essential amino acids and folic acids and is also a source of low-caloric energy, making it a preferred choice for health-conscious consumers.

The escalating global inclination towards exotic and diverse culinary experiences has significantly amplified the demand for Basmati rice. Its indispensable role in quintessential dishes like biryani, pulao, and kabsa has paved the way for its popularity, not just in native regions but across the globe. As international travel and culinary tourism thrive, so does the global appetite for Basmati rice.

Additionally, the burgeoning health and wellness trend has further elevated basmati rice market growth. Unlike its counterparts, Basmati rice has a low to medium glycaemic index, which is favourable for diabetes management. Moreover, being gluten-free, it caters to the growing segment of consumers with gluten intolerances or those opting for gluten-free diets.

Trade dynamics also play a pivotal role in the Basmati rice market trajectory. India and Pakistan, as primary producers and exporters, have developed robust trade relations with countries in the Middle East, Europe, and North America. The strategic positioning of these nations, combined with rigorous quality standards and branding initiatives, has boosted the basmati rice market size.

Additionally, technological advancements in agricultural practices, combined with international cooperation on trade regulations, hint at a promising future for the Basmati rice market. The introduction of sustainable farming practices, water conservation techniques, and high-yield seeds are anticipated to stabilise production rates and ensure consistent market supply.

Furthermore, the expansion of organised retail, e-commerce platforms, and direct-to-consumer channels are slated to revolutionise Basmati rice's distribution dynamics. With easy access to global consumers and a platform for producers to highlight their product's authenticity and quality, these channels are expected to significantly support the basmati rice market demand.

Market Segmentation

The market can be divided based on type, nature, country of origin, end user, distribution channel, and region.

Market Breakup by Type

• Parboiled
• Raw

Market Breakup by Nature

• White
• Brown
• Others

Market Breakup by Country of Origin

• India
• Pakistan
• Others

Market Breakup by End User

• Retail
• HoReCa and Institutional

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Speciality Store
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global basmati rice market. Some of the major players explored in the report by Expert Market Research are as follows:

• KRBL Limited
• Kohinoor Foods Limited
• Adani Wilmar Limited
• Dunar Foods Ltd.
• Ebro Foods, S.A.
• Lundberg Family Farms
• New Bharat Group
• Supple Tek Pvt Ltd
• LT Foods Limited
• HAS Rice Pakistan
• Latif Rice Mills Pvt. Ltd.
• A.I.Z Import & Export
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.