Global Rice Market Size and Forecast 2024-2033|LT Foods Ltd., KRBL Limited, Ebro Foods Inc., Aashirvad International, Lundberg Family Farms,

Indian Food, Rice, Spice - Portion of Indian staple boiled rice, Dahl and spicy sauté vegetable

The Rice by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Rice, The rice market size has grown strongly in recent years. It will grow from $32.74 billion in 2023 to $35.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to population growth and food demand, cultural significance, government policies and subsidies, income levels and urbanization, climate and environmental factors

The rice market size is expected to see strong growth in the next few years. It will grow to $49.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to sustainable agriculture practices, climate change adaptation, innovation in rice processing, global dietary shifts, e-commerce and supply chain optimization. Major trends in the forecast period include organic and specialty rice varieties, technology adoption in farming practices, sustainable farming and water management, fortification and nutritional enhancement, rice-based snacks and alternatives.

A growing food and restaurant sector is expected to propel the growth of the rice market going forward. The food and restaurant sector refers to an industry that includes business that provides food to customers outside the house. This comprises eating establishments, takeout businesses, cafeterias, and restaurants. Rice is a frequent food essential for the food security of more than half the world’s population, so an increasing food and restaurant sector will propel the rice market. For instance, in February 2023, according to a report published by National Restaurant Association, a US-based restaurant industry business association, the foodservice industry is expected to generate $997 billion in sales in 2023, a significant increase from the $898 billion in sales predicted in 2022. Additionally, in February 2023, according to a report shared by the United States Department of Agriculture (USDA), a US-based federal executive department responsible for executing federal laws related to farming and forestry, the expenses associated with eating out in restaurants, cafeterias at schools, sporting events, and other places increased by 7.5% in December 2022 compared to November 2022 and by 13.5% compared to December 2021. Therefore, the growing food and restaurant sector is driving the growth of the rice market.

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The rice market covered in this report is segmented –

1) By Type: Arborio Rice, Rosematta Rice, Red cargo Rice, Parboiled Rice, Sushi Rice, Wild Rice, Glutinous Rice, Other Types

2) By Length: Long Grain Rice, Medium Grain Rice, Short Grain Rice

3) By Color: White Rice, Brown Rice, Red Rice, Black Rice

4) By Distribution Channel: Hypermarket, Supermarket, Convenience Store, Departmental Retail Stores, Online Stores, Other Distribution Channels

5) By Application: Residential, Commercial

Product innovations are a key trend gaining popularity in the rice market. Major companies operating in the rice market are focused on innovating new products to sustain their position in the market. For instance, in June 2022, Roquette, a France-based producer of plant-based ingredients, launched Nutralys, a new rice protein, to meet consumer demand for meat alternatives. The new rice protein features nutritious protein integrated with high production standards and high quality for consumers worldwide. Nutralys provides a plant protein source that is non-GM and gluten-free to pair with Roquette’s Nutralys pea protein for a complete vegetarian protein supplement for specialized nutrition.

The rice market report table of contents includes:

1. Executive Summary

2. Rice Market Characteristics

3. Rice Market Trends And Strategies

4. Rice Market – Macro Economic Scenario

5. Global Rice Market Size and Growth

26. South America Rice Market

27. Brazil Rice Market

28. Middle East Rice Market

29. Africa Rice Market

30. Rice Market Competitive Landscape And Company Profiles

Top Major Players: