The global brown rice market size was worth around USD 9.9 Billion in 2022 and is predicted to grow to around USD 14.9 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.2% between 2023 and 2030.
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➤ The market is expanding due to the growing awareness of prebiotics and digestive health among consumers.
The brown rice industry is being stimulated by the increasing demand for high-fiber foods that are beneficial for the treatment of numerous chronic conditions and the improvement of gastrointestinal health. This product contains phosphorus, manganese, and iron, as well as vitamins B1, B3, and B6. Large producers have made investments in these rice products and are currently benefiting from the increasing demand for functional foods that are high in fiber. Research has demonstrated that this specific rice variety is associated with weight loss due to its ability to regulate blood sugar levels. The prevalence of this method of expediting weight loss is currently on the rise in all retail outlets. The trend toward organic food and the conviction that such products are safer have led to an increase in the consumption of organic thin brown rice.
➤ The market’s expansion is restricted by the volatility of maize prices.
The development of the global brown rice market is significantly impeded by the fluctuation of rice prices, as the price of thin brown rice is heavily influenced by the price of white rice. Rice is the second most popular grain in the globe. It is a prevalent food in numerous countries. Made primarily in Asia and South Asia, it is traded globally. In the past decade, the global rice imports have been significantly increased by countries in Europe and North America. However, its price is highly unpredictable as a result of its dependence on the weather. Therefore, the market growth is anticipated to be dominated by the volatility in the price of rice.
➤ A lucrative opportunity is presented by the growing demand for rice from both developed and developing nations.
The demand for premium, high-quality cuisine is increasing as a result of per capita incomes increasing and global lifestyle changes. Tridge predicts that the demand for basmati rice in the European Union will rise by 70% between 2020 and 21. Additionally, between April 2020 and November 2020, India exported 231,930 metric tonnes of basmati rice to the European Union. The USDA also predicts that aromatic rice imports will increase by 52.5 million tonne from the present level of 1.1 million tonne. The global brown rice market is expanding due to the rising demand for premium-quality fragrant rice, which is promoting industry growth.
➤ The market expansion is significantly impeded by the high cost of brown rice.
Brown rice has a lesser shelf life than white rice due to the fact that the bran layer contains less oil. Brown rice is more expensive due to the additional resources required to transport and preserve it while maintaining its quality. Brown rice bran contains all of the essential vitamins, minerals, and oils; however, these oils also accelerate the rate of deterioration. Brown rice is generally more expensive due to its high nutrient content. Consequently, consumers are willing to pay a premium for it, even if the milling procedure is more time-consuming. Walmart 2021 reports that white rice usually costs $2.50 for a 32-ounce sack and brown rice costs $2.75 for a 16-ounce bag. Therefore, it is anticipated that the elevated cost of brown rice will pose a significant obstacle to market expansion during the forecast period.
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The Global Brown Rice Market is segmented based on product, application and region
Global Brown Rice Market: Product Segment Analysis
● Sweet Brown Rice
● Brown Basmati Rice
Global Brown Rice Market: Application Segment Analysis
● Conventional
● Organic
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The global Brown Rice market profiles key players such as:
● Asia Golden Rice Co. Ltd.
● T.K. Ricemill and Ash
● KRBL Limited
● Daawat
● Kohinoor Foods Limited
● Amira Nature Foods Ltd.
● Shiva Shellac and Chemicals
● New Bharat Group Rice Mills
● LT Foods Ltd.
● Sukoyaka Brown Rice
● Kikkoman Corporation
● Lundberg Family Farms
● Chandrika Group of Mills
● Pride India FMCG Limited
● Riviana Foods Inc.
???? Recent Developments:
• Goya Foods, the largest Hispanic-owned food company in the United States, recently launched its own online store in September 2022. Goya’s new online store offers a wide selection of specialty products and home necessities that are in high demand, such as GOYA® Adobo, Sazón, Chipotles, Anchovy Stuffed Olives, Rice, and Beans.
• A legally binding agreement was reached by The Ebro Group in February 2022 to acquire the assets that constitute InHarvest, Inc.’s company through its US subsidiary Riviana Foods.
➤ The market is anticipated to be dominated by the Asia Pacific region during the forecast period.
The global brown rice market is anticipated to be dominated by the Asia Pacific region during the forecast period. The regional development is a result of the existence of the largest producer and the top consumer of grain. India, Pakistan, and Thailand are the primary producers in the Asia Pacific region, with Thailand being the world’s largest exporter of rice. For example, India, Thailand, Pakistan, and Vietnam were significant net rice exporters in 2019, with a total rice export of approximately $16 billion, according to the World Economic Forum. Customers are now capable of purchasing products that enhance their health due to the rise in consumer discretionary spending. The market’s expansion is being facilitated by the Asia-Pacific region’s dependence on rice and thin brown rice as its primary dietary source. Dietary reforms and lifestyle modifications will stimulate growth in the region.
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