Rice Market In-Depth Analysis and Forecast report By 2028

Rice Market Growth & Trends

The global rice market size is expected to reach USD 334.24 billion by 2028, registering a CAGR of 2.2% during the forecast period, according to a new report by Grand View Research, Inc. The rapidly growing food industry and rising spending on fast food products are expected to promote market growth. Moreover, continuous developments in rice mill machinery across the globe and attractive packaging have increased the demand for these products in emerging economies.

Gather more insights about the market drivers, restrains and growth of the Global Rice Market

Market Segmentation

Grand View Research has segmented the global rice market on the basis of product (Long-grain, Medium-grain, Short-grain), distribution channel (Offline, Online).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

Asia Pacific made the largest contribution to the global rice market with over 77% revenue share in 2021.

China, India, Indonesia, and Bangladesh have a huge population base for the consumption of food products, which is expected to drive the regional demand further. Moreover, this region is expected to advance at a noticeable growth rate during the forecast period, owing to the rising disposable income of consumers, coupled with the growing population in this region.

North America is the fastest-growing regional market for rice and is expected to witness a CAGR of 3.9% from 2022 to 2028.

The increasing demand for fragrant and specialty rice in the U.S. is propelling the growth of the market. Additionally, the increasing consumption of fast-food products in the U.S. and Canada due to the presence of high nutrition, and high fiber in grain products is projected to drive market growth.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

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Key Companies

The key players in the global rice market include – Kohinoor Foods Ltd., Adani Wilmar Limited, LT Foods, KRBL Limited, Aeroplane Rice Ltd., Sridhar Agro Product P Ltd, Gautam General Trading LLC, Sri Sainath Industry Pvt. Ltd, Shriram Food Industry Pvt. Ltd., Aashirvad International.

The market consists of various established players, coupled with local manufacturers present across regions. Various manufacturers and suppliers have been continuously focusing on the logistic development and strengthening of the distribution channel to expand their business. Such initiatives are expected to boost the adoption rate of the product among consumers around the globe.

Order a free sample PDF of the Rice Market Intelligence Study, published by Grand View Research.