Rice Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19, Company Analysis

Rice Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19, Company Analysis

As per Renub Research, Global Rice Market will be US$ 315.6 Billion by the end of the year 2027. Rice is the staple foodstuff of over half of the world's population, with over 700 million tons produced each year. While most rice is consumed in the nations where it is grown, increased demand benefits the worldwide rice trade. Furthermore, most rice is farmed and consumed across Asia, from Pakistan to Japan. As a result, Asia is referred to as 'Rice-producing Asia,' excluding Mongolia and Central Asia.

Global Rice Market Size is expanding at a CAGR of 4.97% from 2021 to 2027:

Rice, a staple food in many industrialized and developing countries, has long been regarded as a strategic commodity, susceptible to various government controls and interventions. On the other hand, rice is a vital wage commodity and cash crop for workers in non-agricultural industries. Support from governments and other organizations in developing countries, technological advancements, and demand for higher-quality rice from Gulf countries during festive seasons drive the global rice industry.

Global Rice Consumption Markets:

Unlike maize and wheat, most rice is consumed locally and does not enter foreign markets. Nonetheless, the worldwide rice trade has grown in volume. A limited number of exporting countries engage with many importing countries in the global rice trade. China, India, Bangladesh, Indonesia, Vietnam, Philippines, Thailand, Myanmar, Japan, and Brazil are all covered in our report. According to our research, China has continually been the world's most significant rice consumer.

China, India, and Bangladesh Key Producers in the Global Market:

Production and domestic price variations may force countries to enter and depart the international market in substantial numbers. Furthermore, bad weather may lead to higher domestic pricing due to lower production, encouraging purchases from the global market. Despite the scenario, China, India, and Bangladesh remain the world's top three rice producers, according to our analysis.

Philippines Rice Import Forecast Extensive Market:

The import markets for the Philippines, the EU-27, China, Nigeria, Côte d'Ivoire, Saudi Arabia, the United Arab Emirates, Iran, Iraq, and Senegal are all included in our report. According to our analysis, following quantitative limits on rice imports, the Philippines is the largest rice importer. Through the Rice Competitiveness Enhancement Fund, the Philippines Department of Agriculture also implements projects to boost production through improved quality seeds, machinery, farm loans, and extension.

India, Thailand, and Vietnam Exports Experiences Significant Presence in the Market:

The export market in India, Thailand, Vietnam, Pakistan, and the United States is examined in our report. China, Myanmar, Cambodia, Uruguay, and Paraguay are involved. According to our analysis, due to their proximity and competitive rates, India, Thailand, and Vietnam are typically the leading suppliers to the worldwide market. These key rice exporters have lower import taxes than other countries. Aside from enhanced production, government rules, and controllable prices from conventional suppliers, export operations are greatly aided by these reasons.

The COVID-19 Pandemic Devised a Decline in Global Rice Industry:

The COVID-19 pandemic, as per the recent research from the University of Arkansas System Division of Agriculture, prompted a spike in global rice prices in the second quarter of 2020. Despite large rice reserves and a worldwide rice output record in 2020, rice prices have remained higher than projected since then. Because of lesser demand, most stock prices rose during the pandemic, but rice prices fell. As a result of the residual uncertainty about the trustworthiness of international markets following the worldwide COVID-19 crisis, the rice market shrank. As per our analysis, Global Rice Market was US$ 235.9 Billion in 2021.

Renub Research report titled “Global Rice Market & Volume by Consumption (China, India, Bangladesh, Indonesia, Viet Nam, Philippines, Thailand, Myanmar, Japan, Brazil, Others), Production (China, India, Bangladesh, Indonesia, Vietnam, Thailand, Myanmar, Philippines, Japan, Pakistan, Others), Exports (India, Thailand, Vietnam, Pakistan, United States, China, Myanmar, Cambodia, Uruguay, Paraguay), Imports (Philippines, EU-27, China, Nigeria, Côte D'ivoire, Saudi Arabia, United Arab Emirates, Iran, Iraq, Senegal), Company Analysis (KRBL Limited, EBRO Foods Inc., Archer Daniels Midland, Tate and Lyle, General Mills, Inc., MGP Ingredients Inc. and Kerry Group)” provides a comprehensive analysis on Global Rice Industry.

Consuming Countries – Market & Volume breakup 11 countries:

1. China
2. India
3. Bangladesh
4. Indonesia
5. Vietnam
6. Philippines
7. Thailand
8. Myanmar
9. Japan
10. Brazil
11. Others

Producing Country – Volume breakup 11 countries

1. China
2. India
3. Bangladesh
4. Indonesia
5. Viet Nam
6. Thailand
7. Myanmar
8. Philippines
9. Japan
10. Pakistan
11. Other

Exporting Country – Volume breakup 10 countries:

1. India
2. Thailand
3. Viet Nam
4. Pakistan
5. United States
6. China
7. Myanmar
8. Cambodia
9. Uruguay
10. Paraguay

Importing Country – Volume breakup 10 countries:

1. Philippines
2. EU-27
3. China
4. Nigeria
5. Côte D'ivoire
6. Saudi Arabia
7. United Arab Emirates
8. Iran
9. Iraq
10. Senegal

All key players were covered with 3 viewpoints

• Overviews
• Recent Developments
• Revenues

Company Analysis

1. KRBL Limited
2. EBRO Foods Inc.
3. Archer Daniels Midland
4. Tate and Lyle
5. General Mills, Inc.
6. MGP Ingredients Inc.
7. Kerry Group