The latest report by IMARC Group, titled “GCC Basmati Rice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the GCC basmati rice market share. The GCC basmati rice market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 1.2% during 2023-2028.
Factors Affecting the Growth of the GCC Basmati Rice Industry:
- Changing Consumer Preference:
The sudden shift in consumer preferences towards healthier and more nutritious food options is one of the major factors propelling the market growth. In line with this, the rising adoption of basmati rice, due to its unique aroma, long grains, and nutritional value, is creating a positive outlook for the market growth. Basmati rice is high in carbohydrates, fiber, and vitamins, making it a preferred choice for individuals seeking a balanced diet. Furthermore, the growing awareness about gluten-free diets, leading to heightened consumption of basmati rice, is favoring the market growth. In addition to this, the growing establishment of ethnic restaurants and grocery stores that utilize basmati rice to cater to diverse tastes is fostering the market growth. Additionally, the rising disposable income of consumers, leading to a greater willingness to spend on premium food products, is acting as a growth-inducing factor.
- Increasing Trade Policies and Agreements:
The increasing trade policies and agreements between the region and basmati rice-exporting nations are a major factor boosting the market growth. In line with this, the introduction of favorable trade agreements and reduced tariffs, leading to an increase in basmati rice imports at competitive prices, is creating a positive outlook for the market growth. Moreover, the growing efforts to forge stronger trade relations with major basmati rice-exporting countries to ensure a steady supply of rice while maintaining quality standards is anticipated to drive the market growth. Along with this, the rising focus on regulations regarding the standardization and quality control of basmati rice for maintaining consumer trust and ensuring the health and safety of the population, is positively influencing the market growth.
- Advancements in Agricultural Practices:
The rapid technological advancements in agriculture, leading to improved farming techniques, better quality seeds, and efficient irrigation systems, are major factors fueling the market growth. In line with this, the rising adoption of modern farming practices, such as the implementation of organic farming methods that enable basmati rice farmers to enhance productivity while maintaining the unique characteristics of the rice, is boosting the market growth. Furthermore, rapid advancements in storage and transportation technologies to ensure that products retain their quality during transit are fostering the market growth. Besides this, the increasing research and development (R&D) in agricultural practices to develop new basmati rice varieties that are more resilient to climate change and pest attacks is offering remunerative growth opportunities for the market.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/gcc-basmati-rice-market/requestsample
GCC Basmati Rice Market Report Segmentation:
By Type of Rice:
- Parboiled
- Raw
Based on the type of rice, the market has been bifurcated into parboiled and raw.
By Pack Size:
- Retail Packaging
- Institutional Packaging
On the basis of the pack size, the market has been divided into retail packaging and institutional packaging.
By Country of Origin:
- India
- Pakistan
- Others
India represented the largest market share due to its long-standing reputation and established supply chains.
Country Insights:
- Saudi Arabia
- UAE
- Kuwait
- Oman
- Qatar
- Bahrain
Saudi Arabia’s dominance in the GCC basmati rice market is attributed to its large population, high purchasing power, strong consumer demand, and cultural preference for the rice.
GCC Basmati Rice Market Trends:
The rising economic growth in the region, leading to increased purchasing power that enables consumers to spend more on premium food products like basmati rice, is one of the major factors boosting the market growth. Along with this, the growing health consciousness among consumers, propelling the demand for whole grains and low-glycemic-index foods, is positively impacting the market growth. Moreover, the rapid population growth and urbanization in the region, leading to increased food consumption, is fostering the market growth. Besides this, the widespread expansion of the retail sector, including supermarkets and hypermarkets, that make the product more accessible to a wider audience, is enhancing the market growth. Furthermore, rapid advancements in distribution and logistics technology that improve the efficiency of basmati rice supply chains are supporting the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163