According to the report by Expert Market Research (EMR), the Asia Pacific basmati rice market is being supported by the growth of the India basmati rice market, which is projected to grow at a CAGR of 6% between 2024 and 2032. Aided by the increasing global rice demand and its esteemed status in international cuisines, the market is expected to grow significantly by 2032.
Basmati rice, a long-grain, aromatic rice traditionally grown in the Indian subcontinent, particularly in India and Pakistan, is renowned for its unique fragrance and delicate, fluffy texture. It is a staple in South Asian cuisine and has gained immense popularity worldwide, especially in Middle Eastern and Western cuisines.
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The Asia Pacific basmati rice market growth is primarily driven by the rising global demand for basmati rice due to its high nutritional value and distinctive flavour. The grain’s popularity in ethnic cuisines and increasing acceptance in new culinary traditions is another vital contributor to its expanding market. Additionally, the growing expatriate population from the Indian subcontinent in various parts of the world has led to a surge in basmati rice consumption.
Moreover, basmati rice is increasingly being recognised for its health benefits. It is a rich source of carbohydrates and provides essential amino acids, making it a healthier alternative to other rice varieties. This aspect is particularly appealing to health-conscious consumers, thereby fuelling the market growth.
The export market significantly influences the Asia Pacific basmati rice market outlook. India and Pakistan, the primary producers, are the largest exporters of basmati rice. The geographical indication (GI) status of basmati rice from these regions ensures its authenticity and quality, enhancing its appeal in the international market.
The Asian basmati rice market has a mix of large and small players, with key players like KRBL Limited, LT Foods, and Amira Nature Foods Ltd leading the market. These companies are engaged in continuous innovation and are focusing on quality improvement, branding, and marketing strategies to expand their global footprint.
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The Asia Pacific basmati rice market demand is further being influenced by the strategic initiatives such as partnerships and expansions. For instance, collaborations between rice producers and international food companies aim to enhance distribution networks and penetrate new markets.
Asia Pacific Basmati Rice Market Segmentation
The market can be divided based on type of rice, end use, and country.
Market Breakup by Type of Rice
- Parboiled
- Raw
Market Breakup by End Use
- Retail
- Institutional
Market Breakup by Country
- China
- India
- Australia
- Pakistan
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia Pacific basmati rice market. Some of the major players explored in the report by Expert Market Research are as follows:
- KRBL Limited
- Supple Tek industries Pvt ltd.
- Kohinoor Foods Ltd.
- Adani Group
- Matco Foods Limited
- Ideal Basmati Rice
- Others
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