Europe Rice Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

Europe Rice Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

The European rice market is projected to register a CAGR of 4.6 % during the forecast period (2016-2026).

As an impact of COVID-19, the European rice market suffered from few challenges like the disruption caused to the supply chain due to restricted trade movements and lockdowns. While restaurants and bars closed in most European countries, the demand for grains and pulses is doing well in retails. There is enough food in and around Europe, and the production outlook for grains is positive. However, food shortage can be a real threat in the short term if logistical restrictions and protectionism increase. In the long term, global economic recessions may have a negative effect on the value of food commodities.

The rice crop is grown in around 27 European countries, in about 450,000 ha of land. The region produces around 70.0% of the total rice consumed domestically, and the average annual production stands at 3.1 million ton. The per capita annual consumption was 3.5-5 kg in non-rice growing countries and 6-18 kg in Southern Europe. Italy and Spain are the major rice-growing countries, accounting for 80.0% of the total EU rice production. Other rice-growing areas are Greece, Portugal, France, Russia, Romania, Bulgaria, and Hungary. The region depends on imports for specialty long grain Indica rice, such as basmati and jasmine from India and Pakistan.

Key Market TrendsStrong Demand in North Western Europe

The majority of European imports of rice accounts for North-Western Europe, with the United Kingdom, France, and Germany as the largest importers. France and the Netherlands are the largest importers of rice from developing countries. The Netherlands has a strong marine transportation system that forms an important entry point for rice into Europe from various developing countries. Important rice varieties imported by Europe are long-grain Indica rice and aromatic varieties (basmati, jasmine, etc.). The United Kingdom is the leading importer of basmati rice, largely sourced from India. India, Pakistan, Thailand, and Cambodia are some of the major exporters of rice to Europe.

Italy is the Largest Rice Consuming Country

The consumption of rice in Italy was valued at USD 937,893.7 thousand in 2018, witnessing a CAGR of 4.8% during the forecast period. Risotto is one of the most representative and widely eaten Italian dishes, and its demand has been rising rapidly among domestic and international consumers. Italian consumers perceive rice and grains to be healthier than pasta. Owing to the growing health consciousness among the Italian consumers, they are cutting back and limiting the amount of pasta in their diet and shifting toward consuming healthier grains, including rice. Owing to the changing consumer preferences and changing lifestyles, local companies in the country are consistently involved in innovation that constantly adapts to the needs of the modern consumer. For instance, the Italian company, Riso Bello, introduced new ready-to-eat risottos in its product range to satisfy the market demand for high-quality, easy-to-cook products.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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