Global Basmati Rice Market is anticipate to exhibit 11.0% CAGR
from 2017 to 2022
The global basmati rice market is a choc-o-bloc with companies both large and
small that features a fragmented vendor landscape, as per a report by Transparency
Market Research (TMR). Leading players such as McCormick & Co., Hain Celestial,
Rice ‘n Spice, REI Agro, LT Foods, East End Foods, and Amira Nature Foods serve local
as well as global consumers, which is reflected in the growth of basmati rice market.
Penetration into regional markets as rice is the staple food of more than half of the
world’s population is likely to provide ample growth opportunities for leading players
in the market. These players are penetrating regional markets through strategic
partnerships, which is likely to make the market somewhat consolidated albeit more
competitive, states the report.
The worldwide basmati rice market stood at a valuation of US$10.51 bn in 2017.
Proliferating at a robust CAGR of 11.0% between 2017 and 2022, the market is
anticipated to be worth US$17.74 bn by the end of 2022. By type, the demand for
raw basmati surpasses than that for parboiled and steam, mainly because of superior
taste and aromatic property of the former. Among the various sales channel,
traditional grocery stores remain the key sales channel, with convenience stores
following closely. Among the key regional markets for basmati rice, Asia Pacific
excluding Japan acquires the leading position in the overall market thanks to high
production of rice in the region.
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Increasing Spending on Superior Grains across Consumer Groups Benefits
“Among the various types of rice, basmati rice enjoys a premium position thanks to
its superior taste and aromatic quality,” says a TMR analyst. Almost 90% of
production and consumption of basmati rice is centered in Asia, mainly because of
its origin from the Indian subcontinent. The growth of th