Rice Market Size, Opportunities And Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Rice Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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 growth in the historic period can be attributed to population growth and food demand, cultural significance, government policies and subsidies, income levels and urbanization, climate and environmental factors.

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%. The growth in the forecast period can be attributed to sustainable agriculture practices, climate change adaptation, innovation in rice processing, global dietary shifts, e-commerce and supply chain optimization. Major trends in the forecast period include organic and specialty rice varieties, technology adoption in farming practices, sustainable farming and water management, fortification and nutritional enhancement, rice-based snacks and alternatives.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/rice-global-market-report

Market Drivers and Trends:

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.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=9578&type=smp

Major Key Players of the Market:

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

Rice Market 2024 Key Insights:

• The rice market will grow to $49.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• The Role Of A Thriving Food And Restaurant Sector In Fueling The Rice Market Growth
• Focus On Product Innovations
• Asia-Pacific was the largest region in the Rice market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=9578&type=smp

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.