Basmati Rice Market Research 2024-2033: Outlook and Overview

Overview and Scope

Basmati rice refers to long-grained aromatic rice grown for many centuries in the Himalayan foothills of the Indian sub-continent, blessed with characteristics of extra-long slender grains that elongate at least twice their original size with a characteristics soft and fluffy texture upon cooking, delicious taste, superior aroma, and distinct flavor. It is a long-grain rice that is characterized by a light nutty flavor and floral aroma, and it’s popular in rice pilaf and as a side dish for a curry.

Sizing and Forecast

The basmati rice market size has grown rapidly in recent years. It will grow from $11.64 billion in 2023 to $13.08 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to culinary popularity, traditional cuisine, export demand, cultural and festive use, brand recognition, climatic conditions.

The basmati rice market size is expected to see rapid growth in the next few years. It will grow to $20.82 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to changing dietary preferences, health and wellness considerations, government support for agriculture, infrastructure development, promotion of geographical indications. Major trends in the forecast period include technological advancements in agriculture, organic and non-GMO basmati rice production, advances in rice processing and milling, quality assurance and certification, diversification of basmati rice products.

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Segmentation & Regional Insights

The basmati rice market covered in this report is segmented –

1) By Product: Parboiled, Raw, Steamed
2) By Species: White, Brown, Other Species
3) By Distribution: Convenience Store, Modern Trade, Online Store, Traditional Grocery Stores
4) By Application: Industrial, Household

Asia-Pacific was the largest region in the basmati rice market in 2023. The regions covered in the basmati rice market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

A rise in demand for aromatic rice is expected to propel the growth of the basmati rice market going forward. Rice having natural chemical components that give it a distinct scent is known as aromatic rice. There are several aromatic rice varieties, from the well-known basmati to the considerably less well-known Randhunipagal. Although it can be prepared in the same way as regular rice, it gives food a distinct flavor and scent. Basmati rice is steadily replacing other types of rice due to its excellent flavor and aroma, which are extremely palatable. For instance, in December 2021, according to the Ministry of Commerce and Industry, an India-based government department, India’s rice exports (basmati and non-basmati) were estimated to be 17.72 MT (metric tons) in 2021–2022.. Therefore, the rise in demand for aromatic rice is driving the growth of the basmati rice market.

Key Industry Players

Major companies operating in the basmati rice market report are Cargill Incorporated, Kohinoor Food Ltd., Bunge Limited, Anheuser-Busch InBev SA/NV, Louis Dreyfus Company B.V., HAS Rice Pakistan, ITC Limited, McCormick & Company Incorporated., Ebro Foods S.A., Riceland Foods Inc., Chamanlal Setia Exports Ltd., Unity Foods Limited, East End Foods, LT Foods Ltd., Farmers’ Rice Cooperative, REI Agro Ltd., GRM Overseas Ltd., Matco Foods Ltd., Adani Wilmar Limited, Aeroplane Rice- Amir Chand Jagdish Kumar Limited, Goel International Private Limited, Dunar Foods Ltd., Amira Nature Foods Ltd., Amar Singh Chawal Wala, Supple Tek industries Pvt. ltd., Lakshmi Energy & Foods Ltd., California Family Foods, KRBL Ltd., Sulson Overseas Pvt. Ltd., Hanuman Rice Mills, Golden Food Products

The basmati rice market report table of contents includes:

1. Executive Summary

2. Basmati Rice Market Characteristics

3. Basmati Rice Market Trends And Strategies

4. Basmati Rice Market – Macro Economic Scenario

5. Global Basmati Rice Market Size and Growth

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32. Global Basmati Rice Market Competitive Benchmarking

33. Global Basmati Rice Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Basmati Rice Market

35. Basmati Rice Market Future Outlook and Potential Analysis

36. Appendix