Global Rice News

Europe Basmati Rice Market Set to Reach $866.5 Million by 2031, Says Allied Market Research

Europe’s basmati rice market is projected to reach $866.5 million by 2031, with a compound annual growth rate (CAGR) of 4.2%, according to a new report by Allied Market Research. The Indian variety segment was the highest revenue contributor, with $418.1 million in 2020, and is estimated to reach $671.3 million by 2031, with a CAGR of 4.5%.

Basmati rice is known for its distinct aroma and cooking qualities, and is two to three times more expensive than other long-grain rice varieties. It expands to at least twice its original length when cooked.

Basmati rice is popular in Indian, Pakistani, Persian, Arab, and Middle Eastern cuisines. Most of the basmati rice production is concentrated in India and Pakistan, with some other South Asian countries also cultivating it for self-consumption.

The export of basmati rice has driven the demand for a stronger supply chain, benefiting all players involved. While governments work to strengthen the basmati rice supply chain, market participants focus on developing authenticity, which improves brand image in both domestic and international markets.

COVID-19 has affected the European rice market due to supply chain disruptions caused by restricted trade movements and lockdowns. However, retail demand for grains and pulses remains strong.

The UK dominated the market in terms of revenue and volume in 2021, followed by Spain, which is projected to grow at the highest CAGR of 7.4% from 2021 to 2031. The Indian variety type segment is expected to grow at a CAGR of 4.5%.

The key players in the market include Amira Basmati Rice, HBI, Estraco, East End Foods, TBA Suntra, S.G.S. International Rice Company, Amira Nature Foods, VSR Rice, The Rice ‘n Spice International Ltd., and Kohinoor Foods.

For the full report and to connect with Allied Market Research, visitors can click here.

Source: [source](https://www.whatech.com/)