Significant Expansion of Basmati Rice Market Expected by 2024: LT Foods, Best Foods, Kohinoor Rice
Published on: January 9, 2024.
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Basmati Rice Market Expected to Witness Significant Growth by 2024
The global basmati rice market is projected to expand significantly by 2024, according to the latest intelligence report by USD Analytics. The report provides a comprehensive analysis of market niches, product offers, and sales channels in the basmati rice industry. The research incorporates both qualitative and quantitative data from primary and secondary sources to determine market size, growth trends, and the competitive environment.
The basmati rice market is a segment within the broader rice industry that focuses on the production, distribution, and consumption of basmati rice. Basmati rice is a long-grain aromatic rice variety known for its distinctive flavor, fragrance, and slender grains. It is primarily grown in specific regions, with the Himalayan foothills being renowned for producing high-quality basmati rice.
The market dynamics of the basmati rice industry are driven by various factors, including the increasing global demand for premium and specialty rice varieties, the popularity of ethnic cuisines that use basmati rice, and consumer preferences for aromatic and flavorful rice options. Key players in the market include rice producers, exporters, and distributors who focus on maintaining the quality and authenticity of basmati rice.
The report projects a Compound Annual Growth Rate (CAGR) of 9.5% for the basmati rice market from 2024 to 2030. The market segments analyzed in the report include species (white, brown, others), sales channel (traditional, modern, retail, HORECA), and variety (Indian basmati rice, Pakistani basmati rice, others). The research incorporates data from over 22 countries across Europe, North America, South America, Asia Pacific, and MEA to provide a comprehensive analysis of the industry.
Geographically, the report covers North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. It highlights the market trends and growth opportunities in each region, providing valuable insights for companies operating in the basmati rice market.
The report emphasizes the importance of staying updated on the current market trends and dynamics for businesses involved in the basmati rice industry. It also addresses the impact of macroeconomic and regulatory factors on market growth, particularly in mature markets like North America and Western Europe.
To optimize growth and profitability, insurance companies and aggregators should focus on specific market niches or countries. The report highlights the significance of distribution channels in the insurance sector, with a growing preference for digital purchases in the basmati rice market.
The study covers the historical years of 2018-2022, the base year of 2022, and the forecast period of 2023-2030. It includes a detailed analysis of market segments, customer behavior, distribution routes, and player analysis.
For more information or to access the complete report, visit the source.
