Rice, is the crucial food for half of the population across the world. Basmati rice has gained maximum market penetration owing to its excellent aroma, aesthetic taste, and good cooking qualities. It has high nutrition content and is considered as the “taste for elite”. Basmati rice is majorly preferred to consume on various occasions and ceremonies including marriages, Eid, and house & corporate parties. Thus, consumption of basmati rice on occasions is considered to major driver for the market growth. Furthermore,a sizeable export of basmati rice across the world has generated the need for a stronger supply chain to establish a fair outcome benefiting all the supply chain participants starting from farmers to the consumers.
Companies covered: 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, and KRBL Ltd.
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Covid-19 Scenario Analysis:
Corona virus has spread all over the world and most of the countries are adopting lockdown measures to control the spread of the virus for securing public health. All business and production activities are fully shut down except food and medical sector or other, leading toward economic crisis in the country. Manufacturing and production functions are stopped which has slowed down the business and inactive trade and transportation has fully disrupted the supply chain because of which companies can face big losses in near future.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The rise indemand for aromatic rice continues to remain highamong its consumers.Increase in the consumer’s disposable income and rise in consciousness regarding healthy lifeare considered to be key drivers for the growth of the basmati rice market. Furthermore, the rise in appetite for long-grain rice booststhe demand for basmati rice during the forecast period. Considerable changes in the food consumption pattern and increase in trend of eating outside are expected to fuel the growth of the market.
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Asia-Pacific is expected to grow at highest rate
Asia-Pacific is anticipated to gain significant traction for basmati rice owing to its increase in consumption and production. India and China are the major producers of basmati rice, which is majorly attributed to its favourable climate and soil.It is a scented pearl of the country emerging from the time of Mughals. Basmati rice is exported which is expectedto contributetoward the growth of the basmati rice market.
Key Benefits of the Report:
- The report provides a quantitative analysis of the current basmati rice market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists to determine the prevailing basmati rice market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the basmati rice industry.
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