Rice market report 2020: exponential growth by market size, share, trends and analysis till 2027 – KSU
The seed of the grass Oryza glaberrima or Oryza sativais known as rice. Rice is a cereal, which is a staple food for more than half of the world’s population. In addition, it is considered the second most important cereal crop in the world. Each year, world rice production is around 700 million tonnes. China, India and Vietnam are among the largest producers of rice. The rice harvesting area in China is smaller than the rice harvesting area in India. However, since only less than half of India’s rice area is irrigated, China is responsible for more rice production.
Rice is available in different varieties and types with varying segmentations. Each type of rice has its unique properties, taste and texture, working differently with various cooking recipes. The United States alone commercially produces about 20 different varieties of rice. Few of the unique varieties of rice belonging to the aromatic category, such as jasmine rice and basmati rice, are widely imported from India, Thailand and Pakistan.
The rice plant takes about three to six months from germination to maturity, which depends entirely on the variety of rice and the environment in which it is grown. Rice is mostly eaten after cooking in water, while rice cakes, rice flakes, puffed rice, and canned rice are other forms of rice consumption. Some other industries such as starch and brewing industries also use rice. Rice by-products left after milling, i.e. rice husk and bran, are used as feed for poultry and livestock. The rice market is expected to experience substantial growth during the forecast period, owing to the ever increasing consumption of rice.
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Market Scope and Structure Analysis
|Market size available for years||2020-2027|
|Reference year considered||2019|
|Forecast unit||Value ($ USD)|
|Covered segments||Type, color, length, flavor, application, distribution channel and region|
|Regions covered||North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia and rest of Asia-Pacific) and LAMEA (Middle East, Brazil and the rest of LAMEA)|
|Covered companies||Riceland Foods Inc., LT Foods Ltd., Ebro Foods, VAP Foods Ltd, McCormick & Company, KRBL Ltd, ITC, Rice Select, Planet Rice, ConAgra Foods, Inc., General Mills, Carolina Plantation Rice and Uncle Ben’s Brown Rice|
COVID-19 scenario analysis
- The COVID-19 pandemic has disrupted the global economy by shutting down operations of the rice industry.
- Rice is a staple food in many countries and is consumed daily by the majority of the world’s population. In addition, home orders have increased household demand for rice.
- Although the lockdown has been imposed globally, demand for rice in the commercial sector has declined as people avoid dining there.
- Market players are unable to meet customer demand in the current pandemic situation.
- Farmers face supply problems with harvested rice due to the logistical slowdown.
- The disruption of the supply chain, the shutdown of import-export activities and the loss of labor are the main problems facing the global rice market.
Main impact factors: analysis of market scenarios, trends, drivers and impact analysis
The expansion of the fast food and restaurant industry and the rapid growth of the population are the key factors driving the growth of the rice market on a global scale. Rice is among the preferred cereals of a large part of the world’s population, which in turn increases the consumption of rice, thereby increasing the growth of the rice market. The demand for specific rice varieties such as aromatic rice and high quality long grain rice is gradually propelling the market growth. In addition, the government is taking many initiatives for rice production and related industries, thereby motivating the whole rice market.
On the contrary, the lack of irrigation facilities in many developing countries creates a challenge for rice production. Along with this, consumers have reduced their consumption of rice, as daily consumption of white rice in excess can increase the risk of type 2 diabetes and obesity. However, the shift in consumers towards healthy eating habits has prompted manufacturers to focus on launching new brands of rice and making efforts to attract health-conscious people.
The demand for brown rice is increasing among consumers as it is a rich source of fiber, which provides many health benefits such as lowering cholesterol, promoting satiety, preventing blood clots and improves digestive health, thus creating a lucrative opportunity. for the expansion of the world rice market. In addition, the increased efforts of the major packaging players are attracting a large consumer base. In addition, innovation in planting and cultivating rice on a global scale gives a higher yield and has been shown to be more efficient than traditional methods, thus facilitating rice production and protecting the environment from the excessive use of chemicals, insecticides and pesticides in agriculture
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Key segments covered
Main advantages of the report
- This study presents the analytical description of the global rice industry along with current trends and future estimates to determine impending pockets of investment.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rice market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the global rice market.
- Porter’s Five Forces Analysis illustrates the power of buyers and suppliers in the marketplace.
- The report provides a detailed analysis of the global rice market based on the intensity of competition and how the competition will shape in the coming years.
Questions Answered in the Global Rice Market Research Report:
- Who are the major players active in the global rice market?
- What are the current trends that will influence the market in the coming years?
- What are the driving factors, constraints and opportunities in the market?
- What future projections would help to take new strategic actions?
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