Published on : Nov 02, 2017
Albany, New York, November 2, 2017: Basmati rice is the leading aromatic fine quality rice of the world trade and it fetches good export price in the international markets. Due to steady rise in the demand from people across the world, the global basmati rice market is undergoing a phase of significant improvement. The opportunity in the worldwide market for basmati rice is anticipated to reach US$10.51 bn by 2017. Proliferating at a robust CAGR of 11.0% over the period from 2017 to 2022, the market is expected to rise further to US$17.74 bn by the end of the estimate period. These key findings has been clearly stated in a new 170-pages study, added to the wide repository of Market Research Hub (MRH). The study is titled as “Basmati Rice Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022” present a comprehensive analysis of the global basmati rice market by examining the noticeable trends, growth drivers, limitations, and opportunities and the impact of these factors on the demand for basmati rice between 2017 and 2022. It also examines the potential of this market at the global as well as the regional level.
Basmati rice being novel product is considered by its unique grain size, aroma and cooking qualities. Nearly 90% of the production as well as consumption of basmati rice is centered in Asia, with China and India being the most prominent producers, as well as consumer of this type of rice. The report further also adds that majorly, three types of basmati rice is consumed across the world: Raw, parboiled, and steamed. Among these, raw basmati registers a much greater demand than parboiled and steamed basmati rice, thanks to its superior quality, fragrance, and taste. On the basis of species, White basmati rice is more preferred among the masses. However, due to the rising awareness about its health benefits, brown basmati rice is anticipated to witness a high growth rate in the years to come.
Further, the report provides a detailed look into the segmentation of the global basmati rice market in order to familiarize readers with the granular makeup of the market. The market has been analyzed on the basis of the type of rice, sales channel, spices, application and geography. Geographically, the research study broadly classifies the global basmati rice market into North America, Asia Pacific excluding Japan (APEJ), the Middle East and Africa (MEA), Europe, Latin America, and Japan. Among these, APEJ has surfaced the leading regional market for basmati rice. By 2017, the APEJ basmati rice market is expected to hold more than 46% of the overall market. By the sales channel, the market is categorized into HORECA, modern trade, convenience store, online store, and traditional grocery stores. Based on the application, the report bifurcate the market into food and cosmetic and personal care.
Later, key market players have been outlined in terms of attributes such as company overview, financial overview, business strategies and recent developments. McCormick & Co. Inc., LT Foods Ltd., The Hain Celestial Group Inc., Estraco Kft., East End Foods, The Rice 'n Spice Intl Ltd., KRBL Ltd., Amira Nature Foods Ltd., Mars Inc., and REI Agro Ltd. are the leading companies active in the global market for basmati rice.
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