Bariatric Surgery Devices Global Market: Market Trends and Forecast | 2024 To 2033 Key Players

The Business Research Company recently released a comprehensive report on the Global Basmati 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.

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According to The Business Research Company's, The basmati rice market size has grown rapidly in recent years. It will grow from $11.64 billion in 2023 to $13.08 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to culinary popularity, traditional cuisine, export demand, cultural and festive use, brand recognition, climatic conditions.

The basmati rice market size is expected to see rapid growth in the next few years. It will grow to $20.82 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to changing dietary preferences, health and wellness considerations, government support for agriculture, infrastructure development, promotion of geographical indications. Major trends in the forecast period include technological advancements in agriculture, organic and non-GMO basmati rice production, advances in rice processing and milling, quality assurance and certification, diversification of basmati rice products.

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Market Drivers and Trends:

A rise in demand for aromatic rice is expected to propel the growth of the basmati rice market going forward. Rice having natural chemical components that give it a distinct scent is known as aromatic rice. There are several aromatic rice varieties, from the well-known basmati to the considerably less well-known Randhunipagal. Although it can be prepared in the same way as regular rice, it gives food a distinct flavor and scent. Basmati rice is steadily replacing other types of rice due to its excellent flavor and aroma, which are extremely palatable. For instance, in December 2021, according to the Ministry of Commerce and Industry, an India-based government department, India's rice exports (basmati and non-basmati) were estimated to be 17.72 MT (metric tons) in 2021-2022.. Therefore, the rise in demand for aromatic rice is driving the growth of the basmati rice market.

Technological advancements are a key trend gaining popularity in the basmati rice market. Major companies operating in the market are using advanced technologies to sustain their position in the market. For instance, in October 2021, Galaxy Rice Industries Private Limited, an India-based food processing company launched Galaxy Quick Cooking Brown Basmati Rice that uses German VDF Technology to hydrate the bran layer. The unique features of Galaxy Quick Cooking Protein, calcium, magnesium, phosphorus, vitamin B1 and B6, and a significant amount of dietary fiber is all included in brown basmati rice. Additionally, it offers early and whole-grain cooking in under 15 minutes.

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Major Key Players of the Market:

Cargill Incorporated, Kohinoor Food Ltd., Bunge Limited, Anheuser-Busch InBev SA/NV, Louis Dreyfus Company B.V., HAS Rice Pakistan, ITC Limited, McCormick & Company Incorporated., Ebro Foods S.A., Riceland Foods Inc., Chamanlal Setia Exports Ltd., Unity Foods Limited, East End Foods, LT Foods Ltd., Farmers' Rice Cooperative, REI Agro Ltd., GRM Overseas Ltd., Matco Foods Ltd., Adani Wilmar Limited, Aeroplane Rice- Amir Chand Jagdish Kumar Limited, Goel International Private Limited, Dunar Foods Ltd., Amira Nature Foods Ltd., Amar Singh Chawal Wala, Supple Tek industries Pvt. ltd., Lakshmi Energy & Foods Ltd., California Family Foods, KRBL Ltd., Sulson Overseas Pvt. Ltd., Hanuman Rice Mills, Golden Food Products

Basmati Rice Market 2024 Key Insights:

• The basmati rice market size is expected to see rapid growth in the next few years. It will grow to $20.82 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Surging Demand For Aromatic Rice Varieties Fuels Growth In The Basmati Rice Market
• Innovative Technological Advancements Propel Basmati Rice Market
• Asia-Pacific was the largest region in the basmati rice market in 2023

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This release was published on openPR.