Report Overview
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The global packaged basmati rice market size was USD 25350 million in 2022. As per our research, the market is expected to reach USD 41730 million by 2028, exhibiting a CAGR of 8.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the packaged basmati rice market growth and demand returning to pre-pandemic levels once the pandemic is over.
It is a variety of rice that has recently experienced tremendous market growth. This variety of rice is renowned for having lengthy grains and an aromatic flavor, making it the ideal side dish for any dinner. Due to its accessibility and convenience, the market for bagged basmati rice has experienced tremendous growth. Different kinds of bagged basmati rice are now more accessible than ever thanks to the growth of e-commerce platforms. The market offers a variety of packaged varieties of basmati rice, each with a special flavor and texture.
For instance, the classic old basmati rice is matured for at least a year, which produces a more prominent flavor and aroma. On the other hand, the younger types of basmati rice are mature for a shorter time and have a lighter, milder flavor. In addition to white basmati rice, other well-liked varieties of packaged basmati rice include brown basmati rice, which is healthier, and organic basmati rice, which is farmed without the use of pesticides or toxic chemicals. As a result of the convenience it provides customers, the market has been expanding steadily. Finding the ideal type of packaged basmati rice that suits your palate has never been simpler, thanks to the market's wide variety of basmati rice varieties, each with its unique flavor and texture. So make sure to try some packaged basmati rice today if you're searching for a flavorful and aromatic complement to your meals!
COVID-19 Impact: Lockdown Restrictions And Consumer’s Increased Interest Towards Packed Foods Hindered The Market Growth
One of the biggest effects of the COVID-19 epidemic, which has shaken the world in many ways, has been on the market for packed basmati rice. The demand for packaged foods has increased as more and more people want to stay at home, and basmati rice is no exception. Demand for packed basmati rice has increased as consumers seek out quick and simple meals that are easy to prepare. The pandemic has also changed consumer habits, with many favoring packaged goods with a longer shelf life and ease of storage. The market for packed basmati rice has been further encouraged by this shift in customer tastes because it is the perfect product for people who want to stock up on necessities without being concerned about spoilage. The packaged basmati rice market has displayed amazing resilience and adaptability in the face of the pandemic's obstacles. Seeing how this market is rising to the occasion and satisfying customers' expectations as the world navigates these turbulent times is encouraging. It is understandable why this market is currently one of the hottest subsectors in the food industry.
Latest Trends
"Growing Consumer’s Interest On More Convenient And Easy-To-Prepare Meal Options Boost the Market Expansion"
Have you heard about the most recent development in the market for packed basmati rice? The culinary world is going crazy over it! It has gained popularity considering how many customers are looking for quick and simple meal options. In addition to being quick and simple to prepare, basmati rice keeps all of the mouthwatering flavors and fragrances of the original kind. Additionally, there has never been a better moment to explore various flavors and kinds, given the abundance of fresh and inventive items that are reaching the market. The options are infinite, ranging from biryanis spiciness to pilaf fragrance. Why not try some of the newest packaged basmati rice options and follow the trend? Your palate will appreciate it!
Segmentation
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- By Type Analysis
The packaged basmati rice market can be segmented into dry basmati rice, parboiled basmati rice, and packaged basmati rice. Among these, dry basmati rice is projected to experience rapid growth through 2028.
- By Application Analysis
The market can be divided based on application into supermarket, convenience store, and other. The supermarket is expected to hold the most significant packaged basmati rice market share in the upcoming years.
Driving Factors
"The Increasing Popularity Of Indian Cuisine Across The Globe Propels the Market Expansion"
There is an increase in demand for packaged basmati rice worldwide, which can be linked to numerous important driving forces. First off, high-quality basmati rice, which is the favored option for traditional Indian dishes like biryani and pulao, is in greater demand as Indian food gains popularity around the world. Due to this trend, the production and distribution have significantly increased. The market is expanding due to rising urbanization and consumers' busy lifestyles. It gives consumers with busy schedules and little time for cooking a handy and hassle-free way to enjoy scrumptious and healthy meals without spending hours in the kitchen.
"The Rise In Disposable Income Levels Across Developing Countries Fuels the Market Growth"
Furthermore, the market has expanded due to rising disposable income levels in developing nations. Modern consumers are willing to spend more on premium, high-quality packaged basmati rice with better flavor and scent. Overall, it is anticipated that the packaged basmati rice market will continue to expand over the upcoming years thanks to these crucial elements and cutting-edge product introductions and marketing tactics by top suppliers. I adore Indian food, so I'm interested to see how this business develops and expands to provide foodies worldwide with even more mouthwatering choices.
Restraining Factors
"The High Cost Of Packaging And Transportation And The Lack Of Awareness Hinder the Market Growth"
Although the market for packaged basmati rice has risen rapidly recently, certain restraints keep it from fully developing. Despite this, I am enthusiastic about watching this market expand and prosper. The high cost of packaging and shipping, which might be difficult for certain customers to afford, is a key restraint in this sector. However, this problem will soon be rectified due to technological advancements and heightened competitiveness. Another factor is that customers must be aware of the advantages of packed basmati rice. Still, I am convinced that demand will only rise as more people learn about its convenience and nutritional worth. Overall, I'm interested in where this market is going, and it has a promising future.
Regional Insights
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"North America to Dominate Market Due to The Increasing Popularity Of Indian Cuisine Across The Globe"
Between 2022 and 2028, the packaged basmati rice market will be dominated by North America. Factors driving the market growth in this region include the increasing popularity of Indian cuisine globally.
Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The rise in disposable income levels across developing countries fuels market expansion.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Adani Wilmar (India)
- Amira Nature Foods (UAE)
- Hain Celestial (U.S.)
- KRBL (India)
- LT Foods (India)
- McCormick (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 25350 Million in 2022 |
Market Size Value By |
US$ 41730 Million by 2028 |
Growth Rate |
CAGR of 8.7% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What are the key factors driving the packaged basmati rice market?
The key driving factors in the packaged basmati rice market are the increasing popularity of Indian cuisine globally and the rise in disposable income levels across developing countries.
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What is the leading region in the packaged basmati rice market?
North America dominates the packaged basmati rice market due to the increasing popularity of Indian cuisine globally.
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What are the key players in the packaged basmati rice market?
Adani Wilmar (India), Amira Nature Foods (UAE), Hain Celestial (U.S.), KRBL (India), and LT Foods (India) are some of the top companies in the packaged basmati rice market.
