What are the Historical Developments and Current Growth Metrics of the Rice Market?
The rice market has seen considerable growth due to a variety of factors.
• The dimension of the rice market has notably expanded in the past few years. It is slated to rise from $35.27 billion in 2024 to $38.38 billion in 2025, marking a compound annual growth rate (CAGR) of 8.8%. This exceptional increase during the past period can be credited to multiple factors such as population expansion, food requirement, cultural importance, governmental regulations and benefits, salary rates, urban growth, and climatic and ecological conditions.
What is the Forecasted Market Size and CAGR for the Rice Market Size?
The Rice market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations for the rice market size exhibit robust expansion in the forthcoming years. It is projected to escalate to $55.19 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%.
The projected growth in the forecast period is linked to principles of sustainable agriculture, adaptation to climate change, advancements in rice processing, worldwide dietary transformations, e-commerce, and improvements in the supply chain. Significant trends within the forecast period encompass organic and specialty rice types, incorporation of technology in farming techniques, sustainable agriculture and water management, fortification and enrichment of nutrition, as well as the emergence of rice-based snacks and alternatives.
What Key Factors and Trends Are Driving The Growth Rice Market?
The rice market is anticipated to grow, propelled by an expanding food and restaurant industry. This industry involves businesses providing food services outside of consumers' homes, including eating venues, takeaway establishments, cafeterias, and dining places. The staple food, rice, is essential for the food security of over half the global population, indicating that a flourishing food and restaurant industry can accelerate its market. For example, the National Restaurant Association, a US-based restaurant industry business association, reported in February 2023 that the foodservice industry's projected sales for 2023 are $997 billion, a notable rise from the $898 billion forecasted for 2022. Moreover, according to a February 2023 report from the United States Department of Agriculture (USDA), a federal executive department responsible for enforcing farming and forestry-related federal regulations, the cost of dining out at schools, sports events, and elsewhere, surged by 7.5% in December 2022 compared to the prior month and escalated by 13.5% relative to December 2021. As such, the expansion of the food and restaurant sector is a key driver for the rice market's growth.
What Are The Market Segments In The Rice Market?
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
Pre-Book The Rice Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Rice Market?
A significant current trend in the rice market is the emphasis on product innovations. Large corporations within the rice market are keen on developing new creations to maintain their dominance. For example, Roquette, a French company that specializes in plant-based ingredients, introduced a new rice protein called Nutralys in June 2022. This was aimed at fulfilling the growing consumer need for substitutes to meat. This fresh rice protein comes packed with nourishing protein, combined with high standards of production and top-notch quality for a global consumer base. Nutralys delivers a plant protein option that is free from GM and gluten, making it a perfect match with Roquette's Nutralys pea protein and forming a comprehensive vegetarian protein supplement geared towards specialized nutrition.
Who Are the Key Players In The Rice Market?
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
What Are The Regional Insights Into The Rice Market?
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
