Moreover, half of the world's population relies on rice as their primary source of nutrition. It is a rich source of nutrients, vitamins, and minerals, as well as complex carbs. Red rice is a common variety of rice that is colored red by the presence of anthocyanin. Red rice possesses the highest nutritional value of all rice kinds. In the husk, grain parboiled rice is rice that has been partially boiled. Long-grain grain fragrant rice derives its perfume from the rice plant's natural production of aroma molecules. In recent years, the market growth has been propelled by the increasing demand for a carbohydrate-rich diet among the majority of the world's population, the increasing rice production and quality management by farming sectors in many countries, the increasing trends in rice exports, and the increasing government policies initiatives for the development and commercialization of major domestic rice production industries. In addition, large market expansions by prominent competitors such as ITC and Ebro are further factors driving the market growth. Rice length, kind, product type, application, distribution channel, and geography inform the Rice Industry Analysis.
People have been more health-conscious in recent years, and as a result, they are seeking out balanced meals with sufficient carbohydrates. In many high-income countries, a shift in calorie intake for carbohydrate meals, particularly rice, has been seen. Numerous cuisines are gaining popularity, with restaurants adopting the trend of rice dishes. This is expected to drive market expansion in the years 2022-2030.
Several long-term tests on double-crop and triple-crop irrigated rice systems have recorded production losses. This is even though national rice yields continue to rise, albeit at a slower rate, in the majority of Asian nations. In recent years, the rate of production has decreased as a result of deteriorating nitrogen management and soil nitrogen availability. Consequently, it is predicted to impede market expansion throughout the projection period of 2022-2030.
Eleven Asian nations account for around 87 percent of the global rice supply. Eight of these countries account for around 35 percent of worldwide rice exports. Rice production in Asia, particularly in India and China, has a substantial impact on global food security. This is anticipated to generate chances for rice demand and, as a result, contribute to market expansion during the forecast period of 2022-2030.
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific dominated the geographic sector of the Rice Market in 2019 with a share of over 41.7%, followed by Europe. In the recent two decades, the market has exploded due to the suitable climate and geography for rice farming, the increasing adoption of low-calorie and high-fiber diets, and the presence of important market participants in the region. Due to the increasing consumption of rice and related recipes by the urban population, the expansion in farming and agricultural activities, and the recent entry of important market participants, Europe ranked second in the geography segment share of the market.
During the projected period of 2022 to 2030, Asia-Pacific is anticipated to maintain the highest CAGR growth rate. This is a result of increased rice exports by developing nations such as India and China, favorable government programs for rice farming, and a rise in the population's disposable income.