Branded rice consumption has become the norm of a rapidly evolving urban society. Consumers with every increasing demand are more and more varieties in terms of quality, pricing, packaging and delivery.
Moving with customer demand, many corporations jumped into the foray of packed Branded rice. Branded rice suppliers in India have been capitalizing on the growing demand. Some of the major branded rice in the market are DAAWAT, SHREE LAL MAHAL RICE, Fortune, Kohinoor traditional, LAL QILA, and PATANJALI Basmati Rice. Its markets have seen a surge for both Basmati and non-Basmati rice. Retailers and wholesalers have been promoting the sale of branded rice. On average branded rice commands a 33% premium over loose rice at the retail level. The market for branded/packaged rice stood at $ 3.6 Billion in 2017. The figure is expected to shoot up to $7 Billion by 2023.
The industry has been bullish about the growth prospect of branded rice with PE firms queuing up for massive investments. Everyone wants a share of the pie. The market has witnessed good growth in North as well as South India. Even FMCG major ITC Ltd has entered the market reinforcing the upward trend. The company started with the very popular SONA MASOORI rice in Bangalore. Initially, it came in the package of 25 Kg. The product was launched under the brand name AASHIRVAD. ITC could use it existing supply-chain and logistic network to penetrate the market in a very quick time. The entry of big players like ITC means tougher competition for incumbent players. More than a hundred of brands were already present, selling in 5, 10 and 25 Kg packs. The history of the AASHIRVAD brand goes back approximately 2 decades back. It was set up in the year 2002 to sell Atta. Later it expanded into multiple categories like salt, spices, milk, ghee, etc. With the rate of urbanization not showing any sign of slowing demand, demand for packaged and branded rice is only expected to go up.
New branded rice suppliers find it tough to crack the market, especially in a B2B mode. Despite the presence of B2B platforms like India mart and TradeIndia, tasks for new sellers are still extremely challenging. The presence of middlemen and intermediaries in the supply chain is a major hindrance. Connecting buyers with sellers on a common platform seems to be the only solution. TRADOLOGIE has paved the path for revolution in conventional B2B trade. It’s a next-generation, trade enabler, B2B platform that connects buyers and sellers directly. To elaborate, it does more than simply connecting buyers and sellers. It employs technology to encourage live bidding among the participant sellers for an order quoted by the buyer with specific requirements. This concept of reverse bidding in a live environment ensures that the process is transparent and the buyer/seller receives the maximum value out of a transaction. As a matter of fact, buyers can save up to 20% in a B2B bulk marketplace like TRADOLOGIE. It also ensures that payment is secured for both parties. Transparency is the key to a business transaction. TRADOLOGIE just ensures that.
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