Global Packaged Basmati Rice Market 2018-2022
About Packaged Basmati Rice
Basmati is a long-grain, aromatic rice grown in the specific geographical area of the Himalayan foothills of the Indian sub-continent. This variety of rice has extra-long slender grains that elongate at least twice of their original size and have a characteristic soft and fluffy texture upon cooking.
Technavio’s analysts forecast the global packaged basmati rice market to grow at a CAGR of 11.3% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaged basmati rice market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Packaged Basmati Rice Market 2018-2022
Technavio recognizes the following companies as the key players in the global packaged basmati rice market: Adani Wilmar, Amira Nature Foods, Hain Celestial, KRBL, LT Foods, and McCormick & Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new product launches. The increasing number of new product launches will drive the growth of the packaged basmati rice market till the end of 2022. Regional and international players in the brown basmati rice market are extensively launching numerous new products to increase the market size of the products.”
According to the report, one driver in the market is growing demand for rice as staple food. Globally, rice is the most commonly consumed food product by half the population. Large segment of the population depends on rice for their daily share of calories. Asia accounts for significant share of the global rice consumption globally.
Further, the report states that one challenge in the market is production constraints and high dependence on India. Basmati rice is traditionally grown in the north-western parts of Indian sub-continent. The total area under cultivation is expected to have fallen from around 2.1 million hectares in FY2016 to 1.6 million hectares in FY2017, resulting in a production decline from around 9.8 million tons to around 8 million tons.
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