India Rice Market Expected to Reach USD 12.21 Billion by 2033, At a CAGR of 2.1%

India Rice Market Report Introduction

According to IMARC Group's report titled "India Rice Market Size, Share, Analysis and Forecast 2033" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

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India Rice Market Overview

The India rice market size was valued at USD 10.12 Billion in 2024 and is projected to reach USD 12.21 Billion by 2033, growing at a CAGR of 2.1% during the forecast period 2025-2033. The market growth is driven by increasing population, rising domestic consumption, and expanding exports, especially of premium aromatic varieties like Basmati rice. Innovations in farming technology and government support enhance production efficiency.

India Rice Market Key Takeaways

• Current Market Size: USD 10.12 Billion in 2024
• CAGR: 2.1%
• Forecast Period: 2025-2033
• The market growth is fueled by a growing population, projected to reach 152.2 Crores by 2036.

• Government policies like Minimum Support Price (MSP) provide economic stability to farmers.

• Adoption of climate-friendly rice varieties and improved irrigation systems boosts productivity.

• India's status as the world's largest rice exporter, especially for Basmati rice, supports export growth.

• Development of processing infrastructure reduces post-harvest losses and improves supply chain efficiency.
India Rice Market Growth Factors

• Increasing population growth continues to drive high consumption of rice as a staple food.

• Urbanization and rising standards of living support sustained demand for rice.

• Government support through Minimum Support Price (MSP) ensures stable income for farmers and encourages production.

• Advancements in farming technology are improving productivity and efficiency.

• Adoption of modern farming practices such as precision farming and advanced pest management techniques.

• Development of climate-resilient and high-yielding rice varieties boosts output and reduces risk.

• Expansion of e-commerce platforms enables wider domestic and international rice sales.

• Growth of the middle class and rising health awareness increase demand for premium products, including organic rice.
• Increased investment in storage and processing infrastructure helps reduce post-harvest losses.

• Rising export demand from international markets, particularly in the Middle East, Africa, and Southeast Asia, supports market growth.

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India Rice Market Trends

• India emerged as the world's leading rice exporter in 2024, with exports reaching USD 1.05 billion and registering growth of 85.79%.

• Government initiatives, such as the removal of the export floor price on non-basmati white rice, have improved global competitiveness.

• Upgraded infrastructure, including better storage and transportation facilities, has enabled higher production and larger export volumes.

• Rising international demand for both premium and affordable rice varieties, particularly in Asia, Africa, and the Middle East, is supporting export growth.

• Technological advancements in crop production, including climate-resilient and high-yield rice varieties, have significantly enhanced productivity.

• Precision agriculture tools such as drones, satellite imaging, AI, and ML are helping farmers improve yield forecasting and crop management.

• Increasing adoption of climate-resilient rice varieties tolerant to flooding, drought, salinity, heat, and cold is strengthening supply stability.

• Expansion of online grocery delivery services and e-commerce platforms is improving consumer access and convenience.

• Growing health awareness among consumers is driving demand for brown rice, red rice, and organic rice varieties.

India Rice Market Segmentation

By Product Type:

• Regular: Commonly consumed, neutral flavor rice like Sona Masoori, IR64; versatile and cost-effective.

• Aromatic: Premium varieties such as Basmati, Jasmine, Texmati; used in gourmet cuisine and festive dishes. Increasing demand internationally.

By Type:

• Red Rice: Less processed, antioxidant-rich, healthier alternative popular in health-conscious markets.

• Arborio Rice: Short-grain variety used for creamy-texture risottos.

• Black Rice: Nutrient-rich in iron and anthocyanins; sold in specialty markets.

• Grain Fragrance Rice: Aromatic variety used in many Asian cuisines.

• Brown Rice: Whole grain rich in fiber and nutrients.

• Rosematta Rice: Dark red rice common in South India traditional dishes.

• Grain Parboiled Rice: Partially precooked with more vitamins than white rice.

• Sushi Rice: Short-grain sticky rice used in Japanese cuisine.

• Others: Various less common types.

By Grain Size:

• Long Grain: Long, slender grains used in biryanis, pilafs; examples include Basmati, Jasmine known for aroma.

• Medium Grain: Shorter and plumper; moist and tender, used in risottos and paella.

• Short Grain: Plump, round grains with sticky texture, used in sushi and rice pudding.
By Distribution Channel:

• Offline Stores: Supermarkets, hypermarkets, local grocery stores; preferred for product tactile experience and bulk buying.

• Online Stores: Rapidly growing due to convenience, door-to-door delivery, and wide variety availability; platforms include Amazon, Flipkart.

By Application:

• Food: Largest segment, includes daily meals and gourmet dishes preparing biryani, sushi, and rice pudding.

• Feed: Includes by-products like rice bran used in livestock and poultry feed.

• Others: Includes applications beyond food and feed.

India Rice Market Regional Insights

• South India: Major producer and consumer; states like Tamil Nadu, Andhra Pradesh, Karnataka prioritize boiled rice and idli.

• North India: Known for aromatic varieties such as Basmati especially in Punjab, Haryana, Uttar Pradesh.

• West and Central India: Includes Maharashtra, Madhya Pradesh, Gujarat; mixture of white and aromatic rice fit local urbanized cuisines.

• East India: Includes West Bengal, Odisha, Assam; produces premium scented rice varieties like Gobindobhog and Kala Bhog.

South India dominates with significant market share, driven by consumption and production. The overall market is growing at a CAGR of 2.1%.

India Rice Market Recent Developments & News

• December 2024: LT Foods Ltd. launched DAAWAT® Jasmine Thai Rice in India, a non-GMO-certified fragrant rice available on major e-commerce platforms.

• November 2024: Diageo India initiated a regenerative agriculture program supporting sustainable rice farming across 500 hectares in Telangana.

• November 2024: KRBL launched 'Swaad Samriddhi Ka' campaign for India Gate Basmati Rice targeting Maharashtra regions.

• June 2024: Mitti Labs launched five projects aiming to reduce methane emissions and improve water security on 30,000 hectares involving 40,000 farmers.

• May 2024: Savannah Seeds partnered with ADAMA India to introduce FullPage Rice Cropping Solution, improving yields by 25-40% and reducing greenhouse gas emissions by 25-30%.

India Rice Market Key Highlights of the Report

• Comprehensive quantitative analysis of market segments and trends from 2019-2033.

• Detailed insights on market drivers, challenges, and opportunities.

• Porter's Five Forces analysis to assess competition and market attractiveness.

• Competitive landscape with profiles of major players.

• Extensive segmentation by product, type, grain size, distribution channel, and application.

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