2025-2034 Rice Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Rice Industry Market Size Be by 2025?
The size of the rice market has seen significant growth in the past few years. Its size is expected to rise from $35.27 billion in 2024 to $38.38 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.8%. Factors such as population growth, food demand, cultural importance, governmental regulations and subsidies, level of income, urbanization, and climatic and environmental elements have contributed to the growth in the historic period.

What's the Long-Term Growth Forecast for the Rice Market Size Through 2029?
Anticipations for the rice market size are projecting significant expansion in the coming years, with an increase to $55.19 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 9.5%. This predicted growth in the forecast period is a culmination of factors such as evolving sustainable agricultural methodologies, climate change mitigation efforts, revolutions in rice processing methods, global dietary pattern changes, progression in e-commerce, and improvements in supply chain administration. The forecast period also indicates key trends such as the preference for organic and specialty rice varieties, incorporation of technology in agricultural practices, emphasis on sustainable farming and water conservation, fortification and nutritional enhancement of rice, and the popularity of rice-based snacks and substitutes.

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What Are the Key Growth Drivers Fueling the Rice Market Expansion?
The expansion of the rice market is projected to be driven by the progressive growth of the food and restaurant industry. This industry is made up of businesses that cater to consumers dining outside their homes, inclusive of eating establishments, takeaway services, cafeterias and restaurants. Rice is a staple food for more than half of the global population, hence, a thriving food and restaurant industry will stimulate the rice market. For instance, the National Restaurant Association, a trade association for the restaurant industry in the US, published a report in February 2023 indicating an expected increase in foodservice industry sales to $997 billion in 2023, up significantly from the predicted sales of $898 billion in 2022. Furthermore, a report by the United States Department of Agriculture (USDA), a US federal executive department overseeing farming and forestry-related laws, revealed in February 2023, that the cost of dining out at restaurants, school cafeterias, sporting events, and other venues surged by 7.5% in December 2022 compared to November 2022, and by 13.5% from December 2021. Consequently, the escalating food and restaurant industry is fuelling the growth of the rice market.

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What Are the Key Trends Driving Rice Market Growth?
In the rice market, the emphasis on product innovations is a rising trend. To maintain their market presence, top companies in this sector are prioritizing the development of novel products. For instance, Roquette, a plant-based ingredients producer based in France, launched a brand-new rice protein called Nutralys in June 2022 to cater to the increasing consumer's demand for meat substitutes. The latest rice protein, Nutralys, offers consumers a protein-rich option synthesized to high production and quality standards. This non-GM, gluten-free plant protein complements Roquette's Nutralys pea protein, creating a holistic vegetarian protein supplement catered towards specialized nutrition.

How Is the Rice Market Segmented?
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: Hyper market, Super market, Convenience Store, Departmental Retail Stores, Online Stores, Other Distribution Channels
5) By Application: Residential, Commercial

Subsegments:
1) By Arborio Rice: Short-Grain Arborio, Medium-Grain Arborio
2) By Rosematta Rice: White Rosematta, Red Rosematta
3) By Red Cargo Rice: Whole Grain Red Cargo, Parboiled Red Cargo
4) By Parboiled Rice: Long-Grain Parboiled, Medium-Grain Parboiled, Short-Grain Parboiled
5) By Sushi Rice: Short-Grain Sushi Rice, Medium-Grain Sushi Rice
6) By Wild Rice: North American Wild Rice, Asian Wild Rice
7) By Glutinous Rice: Sweet Glutinous Rice, Regular Glutinous Rice
8) By Other Types: Basmati Rice, Jasmine Rice, Brown Rice, Black Rice

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Which Companies Are Leading the Charge in Rice Market Innovation?
Major companies operating in the rice market include 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., Pride India FMCG Limited, 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

Which Regions Are Leading the Global Rice Market in Revenue?
Asia-Pacific was the largest region in the Rice market in 2024. North America is expected to be the fastest-growing region in the rice market report during the forecast period. The regions covered in the rice market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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