Kenneth Research, in its repository of market research reports, have recently added a report on Basmati Rice Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Basmati Rice Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Basmati Rice Market to reach USD 23.89 billion by 2025. Global Basmati Rice Market valued approximately USD 9.2 billion in 2016 is anticipated to grow with a healthy growth rate of more than 11.19% over the forecast period 2017-2025. the global basmati rice Market is undergoing a phase of significant improvement as consumers appreciate the quality and taste of basmati. With rice being one of the most crucial food crop and a staple for more than half of the population across the world, basmati rice has gained a premium status among all the type of rice available, globally due to its fine quality, fragrance, and taste, states the report. The increasing price of paddy crop and the declining inventory prices in Asian Countries are likely to reflect positively on the global Market for the basmati rice in the years to come, states the research report.
The Asia Pacific region will drive the future demand for basmati rice, where the production as well as consumption of basmati rice is centered, with China and India being the most prominent producers, as well as consumer of this type of rice. The Asia Pacific excluding Japan is the leading regional Market for basmati rice, having 46% of the overall Market in 2017. It is predicted to continue to be the leading consuming region throughout the forecast period to 2025.
The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The major market players in Basmati Rice Market McCormick & Company, Incorporated, LT Foods Limited, REI AGRO Limited, The Hain Celestial Group, Inc, The Rice ‘n Spice Intl Ltd, Amira Nature Foods Ltd, East End Foods, Mars Incorporated, Estraco Kft, KRBL Ltd and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Basmati Rice Market Segmentation
By Species:
*White
*Brown
*Others
By Sales Channel
*Traditional
*Modern
*Retail
*HORECA
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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