Paddy Rice Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The paddy rice market size has grown steadily in recent years. It will grow from $303.97 billion in 2023 to $317.97 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to increased vulnerability to pests and diseases, increase the disposable income, increase in self-consciousness about health, increase in demand for fragrant and specialty rice, and increased cultivation.
The paddy rice market size is expected to see strong growth in the next few years. It will grow to $382.49 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to increasing consumer preference for organic and specialty rice, increasing popularity of online grocery shopping, increasing the trade for long-grain rice, increasing global demand for japonica rice, and dietary preferences in many cultures. Major trends in the forecast period include the increasing use of technology in rice cultivation and processing, development of high-yielding rice, value-added processing and product innovation, water-saving techniques, and organic farming.
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Scope Of Paddy Rice Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Paddy Rice Market Overview
Market Drivers –
The growth in the agriculture sector is expected to propel the growth of the paddy rice market going forward. The agriculture sector refers to the part of the economy that involves producing, processing, and distributing crops, livestock, and other agricultural products. The rising agriculture sector is due to shifts in dietary patterns and increased investment in agricultural research, development, and infrastructure. Paddy rice cultivation supports agriculture by providing food, income, environmental benefits, and cultural significance that encompass economic development, sustainable farming practices, and food security initiatives. For instance, in February 2024, according to the Department for Environment Food & Rural Affairs reports, a UK-based government agency, the average farm business income (FBI) across all UK farms increased significantly from USD 50461 (£46,500) in 2020/21 to USD 78133( £72,000) in 2021/22. Furthermore, the UK total income from Farming (TIFF) in 2022 was $6.61 billion(£7.9 billion), an increase of 17% from 2021 with USD 1.43 billion(£1.1 billion ). Therefore, growth in the agriculture sector drives the paddy rice market.
Market Trends –
Major companies operating in the paddy rice market are developing an innovative class of insecticide with PLINAZOLIN technology for next-generation products for paddy, cotton, and vegetable farmers, ultimately supporting farmers in achieving higher productivity and profitability while minimizing environmental impact. It is a compound that targets a specific receptor in insects that other insecticides have not previously exploited, reducing the risk of cross-resistance with other products. For instance, in July 2023, Syngenta, an India-based ag-tech company, introduced Incipio and Simodis for paddy, cotton, and vegetable farmers across India. These new products are designed to address the challenges posed by climate change and increasing pest resistance, which can lead to 30-40% crop losses if not controlled effectively. Simodis offers a reliable solution for cotton and vegetables against sucking pests and lepidopteran insects such as butterflies and moths. It is particularly effective on crops like hot pepper, brinjal, cotton, groundnut, soybean, and red gram. Based on the unique PLINAZOLIN technology, these advanced products provide effective pest control, resulting in higher yields and crop quality.
The paddy rice market covered in this report is segmented –
1) By Type: Indica, Japonica, Javanica, Other Types
2) By Variety: Long-Grain Rice, Medium-Grain Rice, Short-Grain Rice
3) By Nutrition: High Fiber, High Carbohydrates
4) By Distribution Channel: Hypermarkets And Supermarket, Departmental Stores, Online, Other Distribution Channels
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Regional Insights –
North America was the largest region in the paddy rice Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the paddy rice market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the paddy rice market are REI Agro Ltd., Jumbotail Technologies Pvt. Ltd., LT Foods Limited, Bühler Group, KRBL Limited, Tilda, American Commodity Company (ACC) LCC , ERGOS Technology Partners Inc., American Rice Inc., Ebro Foods S.A , Taj Foods Limited, Agrico Organics Ltd., Sunshine Industries, McCormick & Company, Asia Golden Rice Co. Ltd., Thai Hua, Dhula Rice Mill Private Limited, Arya.ag, Prosperity Solutions Group, SME Business services Ltd
Table of Contents
- Executive Summary
- Paddy Rice Market Report Structure
- Paddy Rice Market Trends And Strategies
- Paddy Rice Market – Macro Economic Scenario
- Paddy Rice Market Size And Growth
…..
- Paddy Rice Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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