Rice Market – A Complete Study of Industry Current Trends, Segments, Growth Drivers and Forecast 2016-2023
The global rice market can be segmented according to product type such as long grain white rice (high quality), long grain white rice (low quality), long grain parboiled rice, long grain fragrant rice, broken and medium grain milled among others.
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The global rice market is expected to grow with a healthy single digit CAGR from 2013 to 2019.
The key driver of this market is the growing fast food industry and restaurants. Rice is one of the favorite cereals for most of the consumers. The growing population is second driver for increasing consumption of rice globally. The demand for fragrant rice is increasing gradually globally. Moreover long rice (high quality) is one of the premium class rice and it is not consumed on a regular basis.
The market can be segmented geographically into North America, APAC, Europe and RoW regions.
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The distribution channel includes hypermarkets/supermarket, departmental stores and stores among others. Asia Pacific is the major producer and exporter of rice globally. However China and India are of the major consumers and producers.
Some of the key players in rice industry are Riceland foods Inc., V.A.P Foods ltd and KRBL ltd among others.
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