According to the latest report by IMARC Group, titled “India Basmati Rice Market Report by Type of Rice (Parboiled, Raw), Pack Size (Retail Packaging, Institutional Packaging), Distribution Channel (Offline Stores, Online Stores), and Region 2023-2028,” the India basmati rice market size reached INR 485.1 Billion in 2022. Basmati rice is a long-grain rice variety known for its unique fragrance, delicate flavor, and slender, elongated grains. It is primarily cultivated in the Indian subcontinent, particularly in India and Pakistan, where it holds cultural and culinary significance. The word "basmati" is derived from the Hindi language, meaning "queen of fragrance" or "the fragrant one." The distinguishing characteristic of basmati rice is its aroma, often described as a blend of nutty, floral, and popcorn-like scents. This aroma is attributed to the presence of a chemical compound called 2-acetyl-1-pyrroline, which is responsible for the characteristic fragrance. Basmati rice grains are long, slender, and non-sticky when cooked. They have a delicate texture and tend to remain separate after cooking, thus making them ideal for various rice dishes, particularly biryanis, pulao, and pilaf. The grains elongate further during cooking, thereby giving the rice an elegant appearance on the plate. Basmati rice is also known for its excellent cooking qualities. It has a higher water absorption capacity compared to other rice varieties, which helps the grains cook evenly and retain moisture. This results in fluffy and aromatic rice with a pleasant mouthfeel. Basmati rice is considered a luxury food item and is often associated with special occasions, celebrations, and gourmet cooking.
India Basmati Rice Market Trends:
The quality and unique characteristics of basmati rice represents one of the key factors driving the growth of the basmati rice market across India. Basmati rice is known for its exceptional aroma, distinct flavor, and long, slender grains. The rising consumption of basmati rice in India due to its premium quality is boosting the growth of the market. In line with this, India is the largest exporter of basmati rice globally. Favorable government policies and trade agreements are facilitating export opportunities for Indian basmati rice. The increasing preference for Indian basmati rice in foreign markets is contributing to the growth of the market. In addition to this, the rising shift in consumer preferences toward premium and high-quality food products due to the increasing disposable income is influencing the growth of the market. Basmati rice, being a premium variety, is often considered a luxury food item. The rising middle-class population in India and other countries drives the demand for basmati rice. The market is also driven by cultural significance in the country. Basmati rice holds cultural significance in various regions and communities. It is an integral part of traditional cuisines and festivals. For instance, festivals like Eid and Diwali often witness an increased demand for basmati rice, which is driving the market growth. Apart from this, the Government of India (GoI) is implementing policies and schemes to support the agricultural sector, including basmati rice cultivation. These initiatives aim to improve infrastructure, provide financial assistance, and ensure favorable trade conditions, which is fostering the growth of the market. Moreover, significant technological advancements in the agriculture industry, such as improved farming techniques, seed varieties, and irrigation methods, are contributing to higher yields and improved quality of basmati rice, which is creating a positive outlook for the market across the country. Looking forward, the market value is projected to reach INR 487.2 Billion by 2028, expanding at a CAGR of 1.1% during 2023-2028.
- Based on the type of rice, the market has been classified into parboiled and raw. Currently, parboiled holds the largest market share in the country.
- On the basis of pack size, the market has been segmented into retail packaging and institutional packaging.
- Based on distribution channel, the market has been segregated into online stores and offline stores. Currently, offline stores hold the largest market share across India.
- On a geographical front, the market has been segmented into North India, West and Central India, South India, and East India. Presently, North India is dominating the market across India.
- The competitive landscape of the market has also been examined along with the profiles of some of the key players.
|Base Year of the Analysis
||Type of Rice, Pack Size, Distribution Channel, Region
||North India, West and Central India, South India, East India
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