GCC Rice Market Share, Trends, Demand, Growth Drivers, CAGR Status, Revenue, Challenges, Opportunities and Future Competition Till 2033


GCC Rice Market Share, Trends, Demand, Growth Drivers, CAGR Status, Revenue, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Mar-2024
 Author: SPER Analyst

GCC Basmati Rice Market is projected to be worth USD 1.99 Billion by 2033 with a CAGR of 3.2%.

Basmati rice is a long grain aromatic rice that has been produced in the Himalayan foothills of India for millennia. It has narrow grains that grow at least double their original size. It also has a soft and fluffy texture and a nutty flavour when cooked. It's high in fibre, minerals, vitamins, zinc, copper, proteins, calcium, potassium, magnesium, carbs, and amino and folic acids. It currently plays an important role in Middle Eastern cuisine, where it is used to prepare a variety of opulent rice-based dishes with layers of rice, meat, sauces, and dried fruits.

GCC Basmati Rice Market Driving Factors and Challenges
Basmati is one of the world's greatest rice kinds, known for its smooth, slender, tapering grains and distinct flavour and scent when cooked. Basmati rice is becoming increasingly popular among customers. The rise in consumer disposable income and knowledge of the value of living a healthy lifestyle are seen as significant drivers of the basmati rice market's expansion. Furthermore, rising demand for long-grain rice is likely to boost demand for basmati rice over the projection period. Significant changes in food consumption patterns, as well as an increase in the popularity of eating out, are projected to support the expansion of the GCC basmati rice market.

A shortage of rice production in the GCC region due to inappropriate climatic conditions, combined with rising demand for higher-quality rice, is one of the primary drivers driving market expansion. Furthermore, because basmati rice is considered a staple grain in the GCC countries, along with wheat, its exports are increasing from India and Pakistan. Furthermore, a high concentration of Asian expats is pushing overall basmati rice sales in the region. Aside from that, the rising prevalence of lifestyle diseases caused by a lack of physical activity is raising people's health concerns. As a result, there has been a significant growth in the daily consumption of brown basmati rice, which is low in fat and rich in nutritional value. Furthermore, government agencies in many GCC nations are encouraging foreign investment in rice imports, which is expected to drive market expansion.

The GCC basmati rice market has various obstacles, including shifting global supply chains that cause procurement and pricing uncertainty. In addition, quality control concerns develop as a result of regional differences in farming practices. Economic changes and geopolitical conflicts in rice-producing countries exacerbate market volatility. Furthermore, severe import regulations and compliance requirements create barriers to market entry and expansion. Finally, to remain competitive in the face of changing customer preferences and dietary trends, the sector must adapt and innovate continuously.

Impact of COVID-19 on GCC Basmati Rice Market
The COVID-19 pandemic has drastically altered demand and consumption behaviours in a variety of industries, including the food business. Supply chain interruptions and production issues necessitated the development of new strategies and consumer products. Retailers encountered low product availability, which influenced market dynamics for basmati rice. During movement limitations, companies modified their targeting methods to accommodate online purchase habits. Despite minor lockup impacts, the rice industry profited from growing worldwide demand for cereal grains. Following the pandemic, the increased demand for packaged and quick meals is expected to boost market development in the GCC basmati rice segment for the foreseeable future.

GCC 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; Albadia, Daawat, Dunar, Fortune, Goodness Foods, India Gate, Kohinoor, Mumtaz, Nur Jahan, Tilda, Others.

GCC Basmati Rice Market Segmentation:

By Type of Rice: Based on the Type of Rice, GCC Basmati Rice Market is segmented as; Parboiled, Raw.

By Pack Size: Based on the Pack Size, GCC Basmati Rice Market is segmented as; Institutional Packaging, Retail Packaging.

By Country of Origin: Based on the Country of Origin, GCC Basmati Rice Market is segmented as; India, Pakistan, Others.

By Price: Based on the Price, GCC Basmati Rice Market is segmented as; Premium, Standard.

By Region: This research also includes data for Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE.

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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