Europe Basmati Rice Market Revenue, Share, Size, Trends, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033


Europe Basmati Rice Market Revenue, Share, Size, Trends, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Feb-2024
 Author: SPER Analyst

Europe Basmati Rice Market is projected to be worth USD 940.27 million by 2033 with a CAGR of 4.2%.

Long-grain rice with elongated grains and a distinct flavour and aroma is called basmati rice. Basmati rice is widely utilised in many different cuisines globally, including European recipes. It is predominantly grown on the Indian subcontinent and its surrounding areas. Its unique scent, fluffy texture, and capacity to pair well with a variety of savoury and fragrant foods are the main reasons for its popularity.

Europe Basmati Rice Market Driving Factors and Challenges
The primary factors propelling the basmati rice market in Europe are the region's rapidly expanding population and an influx of migrants and tourists, which together indicate an increase in food needs. The main producers of basmati rice in Asia, namely India and Pakistan, supply most of the rice that is consumed in Europe. Due in large part to their remarkable flavour, aroma, and taste, these fibres are becoming increasingly popular throughout the region, prompting the major companies to increase their imports of basmati rice into Europe. 

Furthermore, the demand for rice of Indian origin is growing quickly and will significantly contribute to the total market growth during the projection period since nations like the UK have banned the import of rice from Iran. Moreover, another significant factor expected to support the overall market expansion through the forecast priod is the increasing knowledge of the advantages of basmati rice, which include lowering blood cholesterol levels and assisting the body in moving waste through the digestive system.

The market for basmati rice in Europe has a promising future due to the persistent customer desire for high-quality and healthful food options. Important developments including the increase of organic varieties, creative packaging ideas, and gastronomic involvement are anticipated to keep influencing the market. In this fast-paced industry, producers and stakeholders who prioritise sustainability, quality control, and customer-focused tactics should prosper.

The European Basmati rice market faces difficulties due to cost sensitivity and price volatility, which are impacted by weather patterns and trade regulations. Pricing changes are difficult for producers and customers to negotiate because of this volatility. Furthermore, the European market's access to and delivery of Basmati rice products are impeded by supply chain interruptions, which have been made worse by the COVID-19 epidemic. In addition, there is competition from other rice kinds, like Arborio and Jasmine rice, which can be more affordable while yet providing comparable culinary attributes. Furthermore, trade barriers and regulatory restrictions in importing countries can make it difficult for regions that produce Basmati rice to reach markets and have a negative impact on their export potential, further complicating the dynamics of the European rice market.

Impact of COVID-19 on Europe Basmati Rice Market
The COVID-19 epidemic affected the brick and mortar sales of basmati rice in Europe, which led to a shift in consumer behaviour towards online sales channels for the purchase of consumer food goods. This movement in behaviour drove the expansion of online sales in the agriculture and agri-products industries. Nonetheless, given the relaxation of lockdown regulations and enhanced logistics in light of COVID-19 preventive measures, the food and beverage sector is predicted to expand and drive up sales of Europe-sourced basmati rice products over the projection period.

Europe Basmati Rice Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Amira Basmati Rice, Amira Nature Foods, East End Foods, Estraco, HBI, Kohinoor Foods, S.G.S. International Rice Company, Tba Suntra, The Rice N Spice International Ltd., VSR Rice, Others.

Europe Basmati Rice Market Segmentation:

By Product Type: Based on the Product Type, Europe Basmati Rice Market is segmented as; Indian Variety, Pakistan Variety.

By Application: Based on the Application, Europe Basmati Rice Market is segmented as; Commercial, Home.

By Distribution Channel: Based on the Distribution Channel, Europe Basmati Rice Market is segmented as; Grocery Stores, Hypermarkets/Supermarkets, Online, Others.

By Region: This research also includes data for Belgium, France, Germany, Italy, Russia, Spain, The Netherlands, UK, Rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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