Rice Market Growth Drivers & Challenges | 2033

The new report published by The Business Research Company, titled "Rice Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the rice market size has grown strongly in recent years. It will grow from $32.74 billion in 2023 to $35.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The rice market size is expected to see strong growth in the next few years. It will grow to $49.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.

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The Role Of A Thriving Food And Restaurant Sector In Fueling The Rice Market Growth
A growing food and restaurant sector is expected to propel the growth of the rice market going forward. The food and restaurant sector refers to an industry that includes business that provides food to customers outside the house. This comprises eating establishments, takeout businesses, cafeterias, and restaurants. Rice is a frequent food essential for the food security of more than half the world's population, so an increasing food and restaurant sector will propel the rice market. For instance, in February 2023, according to a report published by National Restaurant Association, a US-based restaurant industry business association, the foodservice industry is expected to generate $997 billion in sales in 2023, a significant increase from the $898 billion in sales predicted in 2022. Additionally, in February 2023, according to a report shared by the United States Department of Agriculture (USDA), a US-based federal executive department responsible for executing federal laws related to farming and forestry, the expenses associated with eating out in restaurants, cafeterias at schools, sporting events, and other places increased by 7.5% in December 2022 compared to November 2022 and by 13.5% compared to December 2021. Therefore, the growing food and restaurant sector is driving the growth of the rice market.

Focus On Product Innovations
Product innovations are a key trend gaining popularity in the rice market. Major companies operating in the rice market are focused on innovating new products to sustain their position in the market. For instance, in June 2022, Roquette, a France-based producer of plant-based ingredients, launched Nutralys, a new rice protein, to meet consumer demand for meat alternatives. The new rice protein features nutritious protein integrated with high production standards and high quality for consumers worldwide. Nutralys provides a plant protein source that is non-GM and gluten-free to pair with Roquette's Nutralys pea protein for a complete vegetarian protein supplement for specialized nutrition.

The rice market covered in this report is segmented -

1) By Type: Arborio Rice, Rosematta Rice, Red cargo Rice, Parboiled Rice, Sushi Rice, Wild Rice, Glutinous Rice, Other Types
2) By Length: Long Grain Rice, Medium Grain Rice, Short Grain Rice
3) By Color: White Rice, Brown Rice, Red Rice, Black Rice
4) By Distribution Channel: Hypermarket, Supermarket, Convenience Store, Departmental Retail Stores, Online Stores, Other Distribution Channels
5) By Application: Residential, Commercial

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Major companies operating in the rice market report are LT Foods Ltd., KRBL Limited, Ebro Foods Inc., Aashirvad International, Lundberg Family Farms, Riviana Foods Inc., Adani Wilmar Limited, RiceSelect, PlanetRice, ConAgra Foods Inc., General Mills Inc., Carolina Plantation Rice, Riceland Foods Inc., Hain Celestial Group Inc., Pride India FMCG Limited, Kikkoman Corporation, Asia Golden Rice Co. Ltd., SunRice, Veetee Rice Limited, Kohinoor Foods Ltd., Chandrika Group, Tilda Group, Hanuman Rice Mills, Amar Singh Chawal Wala, Heritage Foods Limited, Capitol Group, Shiva Rice Mills, Daawat, Galaxy Rice Mills Pvt. Ltd., Doaba Rice Mills .

Contents of the report:
1. Executive Summary
2. Rice Market Report Structure
3. Rice Market Trends And Strategies
4. Rice Market - Macro Economic Scenario
5. Rice Market Size And Growth
…..
27. Rice Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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