Indian Basmati Rice Market is always hiked in the global market. Due to the huge demand from Iran, the rice market has significant growth in the past two years.
On the supply side, Basmati Rice Prices continued to firm up for three years in a row. The most demanding countries of the rice are after Iran is the Middle East, and Saudi Arabia, and South Africa.
The country’s export of Basmati variety was projected to reach a peak at INR 30,000 Crores in the last financial year 2019. In the financial year 2018, the production of Basmati is almost 5.03 million tons.
The global Basmati market stood a valuation of USD10.51 billion in 2017. According to the Transparency market research, the rice market is anticipated to grow at a CAGR of 11.01 percent between 2019 to 2022.
The leading Players who are captured the global rice export market are:
- KRBL Limited
- Amira Nature Foods
- LT Foods
- Best Foods
- Kohinoor Rice
- Aeroplane Rice
- Tilda Basmati Rice
- Matco Foods
- Amar Singh Chawal Wala
- Hanuman Rice Mills
- Adani Wilmar
- HAS Rice Pakistan
- Galaxy Rice Mill
- Dunar Foods
Among various types of rice in the global market, 90 percent of production and consumption of the rice are centered in Asia.
Major parts of the production are from the Indian subcontinent. As India has produced large varieties of rice, it belongs to a great share in the world market. The emerging of different hybrid varieties of Basmati Rice is also aiding the growth of the global Basmati Rice Market.
Types of Basmati Rice Available in the Market
Three types of Basmati Rice are available in the global markets which are as follows:
- Raw Rice
- Parboiled Rice
- Steam Rice
The parboiled and steam rice have a large market demand due to its length and distinguishable aroma.
The color of the rice is available in the market are white, creamy, and brown. Brown version of Basmati rice is considered the healthiest rice in the world because it contains a high amount of fiber and low calories.
Best Indian Varieties of Basmati Rice Available in the Global Market
Some varieties of Basmati from India which have higher demand in the global market. Among all other varieties, 1121 Basmati Rice is known as “King of the rice” in the global market. These varieties are:
- 1121 Basmati Rice
- Golden Sella Rice
- Sella Basmati Rice
- 1401 Basmati Rice
- 1509 Basmati Rice
- Sugandha Basmati Rice
- Traditional Basmati rice
India accounts for 70 percent of the world’s Basmati Rice production.
Algeria, Somalia, and Kenya are the major importing countries of Africa for rice import from India. Europe and USA have also significant consumers of the particular rice.
Packaged Basmati Rice Global Market
The global Packaged Basmati Market will grow by USD 12.18 billion for the forecasting period of 2022 to 2024. The major key players of the packaged rice market is
- Adani Wilmar
- Amira Nature Foods
- Hain Celestial
- KRBL Ltd.
- LT Foods Ltd.
- McCormick & Company.
The increasing number of new products of Packaged Rice launches in the market will drive the growth of the Packaged Rice Market worldwide.
There are two types of Packaged Basmati Rice is available in the market. One is Dry Basmati Rice and the other one is Parboiled Basmati Rice.
The major countries that are imported a large volume of packaged rice are North America, Europe, Asia-Pacific, South America, Middle East, and Africa.
The number of key players in the Packaged Basmati Rice Market has just doubled in the past three years due to the increasing demand for rice. The major brands are expanding their distribution network for the particular packaged rice around the world.