Global Rice Market Report by Product Type (Regular, and Aromatic), Type (Red Rice, Arborio Rice, Black Rice, Grain Fragrance Rice, Brown Rice, Rosematta Rice, Grain Parboiled Rice, Sushi Rice, and Others), Grain Size (Long Grain, Medium Grain, and Short Grain), Distribution Channel (Offline, and Online), Application (Food, Feed, and Others), Countries and Company Analysis, 2024-2032

Growing populations and shifting dietary habits

The need for staple foods like rice is growing as the population grows, especially in highly populated areas of Asia and Africa. Rice is a staple food that provides billions of people with their primary source of carbohydrates and nutrients globally. Moreover, evolving dietary practices are fueling the market's expansion. Fast-paced lifestyles, rising income disparities, and rapid urbanization make people want quick and simple meals, with rice-based recipes being popular. The need for healthier options is also being driven by health-conscious consumers, who are choosing whole grain and specialty rice variants. Hence, population increase and changing food habits significantly impact the worldwide rice market.

Expanding prospects for exports

The transnational flow of rice is being made more accessible by growing globalization and the existence of international trade agreements. These accords facilitate rice-producing nations' access to global markets by lowering trade obstacles. There are three types of rice: medium-grain, short-grain, and long-grain, each of which suits a particular cuisine. Because of their diversity, rice-exporting nations can satisfy the unique needs of different global marketplaces. Convenient and quickly made food products are becoming increasingly in demand as the world's population expands. Due to its versatility, rice is a staple food that appeals to a diverse spectrum of customers globally and matches this trend. The confidence of importers and customers is increased when exporters can be assured that rice fulfills international standards for safety and quality through stringent quality control systems and certifications.

Government policies and initiatives for agriculture

Government programs and agricultural laws are significant factors influencing the world rice market. To encourage rice farming, maintain price stability, and guarantee food security for their citizens, numerous nations that produce rice put policies and initiatives into place. Incentives for rice growers, price support systems, and subsidies encourage higher output. These policies maintain market stability by shielding farmers from price swings and motivating them to invest in cutting-edge farming methods and technology. To increase rice yields, disease resistance, and drought tolerance, governments are also funding research and development (R&D) projects. High-yield rice varieties are being cultivated as a result, along with the introduction of modern agricultural techniques.

Challenges in the Global Rice Market

Unpredictable weather patterns and climate change

Climate change has become the biggest threat to the rice market globally, as it has affected the kind of weather necessary for the production of rice. The high temperature, drought, and inconsistent rainfall curtailed the rice-growing areas, mainly in Asia, since more than 90% of the global rice production is done there. Worst weather conditions eventually reduced harvests, at times resulting in inadequate supply, and thus leading to fluctuations in prices. These impacts strain food security and make a difference in the lives of millions of farmers, making rice production less reliable and creating global challenges for consumers and producers.

Price Volatility and Trade Barriers

Price volatility in the global rice market is compounded by trade restrictions and export bans set by some of the world's major rice producers. When countries such as India, Thailand, or Vietnam impose export restrictions to maintain food security in the face of supply shortcomings, then, global rice prices surge and create uncertainty in the global market. This volatility puts a burden on the consumer and the producer alike, especially in rice-importing countries. An unpredictable supply chain coupled with changing global prices does not make long-term planning any easier for traders and governments and has rendered the market more volatile and difficult.

United States Rice Market Overview

The United States is a significant player in the rice market in North America, especially in states like Arkansas, California, and Louisiana, where rice farming is prominent. The U.S. produces long-grain and medium-grain rice, with a significant portion exported to markets like Mexico, Japan, and other countries. Domestic consumption is steady, but exports have been crucial for the U.S. rice industry’s growth. Problems facing the industry's growth and stability are water usage, labor shortages, and competition from Asian rice producers.

Italy Rice Market Overview

Italy plays a significant role in Europe's rice market, which is known to produce high quality, particularly in Arborio rice. Rice is mainly grown in the Po Valley, which provides favorable climatic conditions for rice production. Italy Rice production for the domestic market, although rice still irrigates many parts of Italy, is usually insufficient to meet demand, and a lot is imported. Italian rice, however, has a significant global market for cooking in risotto, among others. Italy continues to be a giant producer, but competition from Asian rice exports hampers the high price that domestic Italian rice competes with.

China Rice Market

China has dominated production throughout history and still does. Rice farming is a rather labor-intensive process overall. About 49% of China's rice production is produced on rice fields, most of which are found in Central China (National Bureau of Statistics of China). In addition to servicing its enormous local needs, China sells a sizable amount of rice worldwide. Turkey, Egypt, Korea, Japan, and the Ivory Coast are the leading importers of Chinese rice. Because of the high local consumption and demand for rice exports worldwide, rice production is expected to stay high during the projected period. Similarly, over the previous 60 years, rice production in India has expanded by 3.5 times. The Rice Exporters Association reports that in 2021, India exported 20 million tons of rice, including 16 million tons of non-basmati rice. Since rice is essential, there should be no national import limitations. In addition, the minimum support price (MSP) offered by the Indian government has encouraged farmers to start growing rice. The minimum selling price (MSP) for the Kharif season of 2021–2022 was INR 1,940 per quintal, as opposed to INR 1,868 per quintal in 2021.

Brazil Rice Market Overview

Brazil is a vital player in the Latin American rice market, with important rice supplies to be consumed in the country as well as exported outside the country. Rice farming is concentrated mainly in the southern states of Rio Grande do Sul, Santa Catarina, and Paraná. Rice constitutes the staple food in most Brazilian diets and also represents the major export country of rice to other Latin American countries and beyond. However, the country continues to face challenges, such as rice price volatility globally and the need for enhancing yield efficiency with rising domestic and international demand.

Product Type – Market breakup in 2 viewpoints:

1. Regular
2. Aromatic

Type – Market breakup in 9 viewpoints:

1. Red Rice
2. Arborio Rice
3. Black Rice
4. Grain Fragrance Rice
5. Brown Rice
6. Rosematta Rice
7. Grain Parboiled Rice
8. Sushi Rice
9. Others

Grain Size – Market breakup in 3 viewpoints:

1. Long Grain
2. Medium Grain
3. Short Grain

Distribution Channel – Market breakup in 2 viewpoints:

1. Offline
2. Online

Application – Market breakup in 3 viewpoints:

1. Food
2. Feed
3. Others

Country – Market breakup of 25 Countries:

1. North America

1.1    United States

1.2    Canada

2. Europe

2.1    France

2.2    Germany

2.3    Italy

2.4    Spain

2.5    United Kingdom

2.6    Belgium

2.7    Netherland

2.8    Turkey

3. Asia Pacific

3.1    China

3.2    Japan

3.3    India

3.4    South Korea

3.5    Thailand

3.6    Malaysia

3.7    Indonesia

3.8    Australia

3.9    New Zealand

4. Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5. Middle East & Africa

5.1    Saudi Arabia

5.2    UAE

5.3    South Africa

All the key players have been covered from 3 Viewpoints:

• Business Overview
• Sales Analysis
• Recent Development & Strategies

Key Players Analysis:

1. KRBL Limited
2. LT Food Ltd
3. Kohinoor Foods
4. Thai Wah
5. Archer Daniels
6. Tate & Lyle
7. General Mills
8. MGP limited

Report Details: