Asia Pacific Basmati Rice Market: Size, Share, Report, and Forecast for 2024-2032
Published on: January 9, 2024.
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Asia Pacific Basmati Rice Market: Global Growth and Trends
January 4, 2024 – According to the latest report by Expert Market Research (EMR), the Asia Pacific basmati rice market is set to experience significant growth, primarily led by the booming India basmati rice market. The Indian basmati rice segment is projected to grow at a remarkable CAGR of 6% between the years 2024 and 2032. This growth comes as a result of increasing global demand for rice, as well as its esteemed reputation in international cuisines, making it a highly sought-after commodity.
The Unique Characteristics of Basmati Rice
Basmati rice is a long-grain, aromatic rice that has traditionally been grown in the Indian subcontinent, particularly in India and Pakistan. This variety of rice is renowned for its distinct fragrance and delicate, fluffy texture. It has become a staple in South Asian cuisine and has gained immense popularity worldwide, particularly in Middle Eastern and Western cuisines.
This rice variety’s growth in the Asia Pacific market is primarily attributed to its high nutritional value and unique flavor, which has led to increased global demand. It is also gaining acceptance in new culinary traditions and ethnic cuisines, further expanding its market reach. Moreover, basmati rice offers various health benefits, including being a rich source of carbohydrates and essential amino acids, making it an attractive option for health-conscious consumers.
The Impact of the Export Market
The Asia Pacific basmati rice market is significantly influenced by the export market. The two primary producers and exporters of basmati rice, India and Pakistan, hold geographical indication (GI) status for their basmati rice. This status ensures the authenticity and quality of the product, increasing its appeal in the international market.
Large and small players contribute to the competitive landscape of the Asian basmati rice market. Industry leaders, such as KRBL Limited, LT Foods, and Amira Nature Foods Ltd, are continuously innovating and focusing on quality improvement, branding, and marketing strategies to expand their global presence.
Key Market Segments
The Asia Pacific basmati rice market can be categorized based on the type of rice, end use, and country. The main rice types include parboiled and raw varieties. The market is further divided by end use, including retail and institutional consumption. In terms of countries, China, India, Australia, Pakistan, and others have a significant presence in the market.
Strategic Initiatives Driving Market Demand
Strategic initiatives, such as partnerships and expansions, are playing a crucial role in driving the demand for basmati rice in the Asia Pacific market. Collaborations between rice producers and international food companies aim to enhance distribution networks and penetrate new markets, boosting overall market growth.
For the full report and detailed analysis of the Asia Pacific basmati rice market, please visit the following link: Asia Pacific Basmati Rice Market Report.
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