Rice forms an important part of the Middle Eastern cuisine, and is considered as a staple food along with wheat, particularly in the GCC countries. Amongst the different varieties, basmati rice is considered as the most popular type of rice which is mainly grown in the foothills of the Himalayas. It is valued for its long and slender grains, delicate aroma and distinct taste. Basmati rice is extensively used in a number of lavish rice-based dishes containing layers of rice, meat, sauces and dried fruits. Owing to this, the countries in the GCC region have become the major importers of basmati rice from India and Pakistan. According to IMARC Group’s latest report, titled “GCC Basmati Rice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the GCC basmati rice market reached a volume of around 2 Million MT in 2018.
A lack of rice production in the GCC countries and growing demand for better quality rice among the consumers in the region is majorly contributing to the growth prospects of the basmati rice market. Additionally, the high density of Asian expatriates in the region represents another key reason for the surge in the demand for basmati rice. Rising urbanisation rates, change in demographics and inflating income levels are further projected to boost the consumption of basmati rice in the GCC region.
The report has segmented the market on the basis of type including parboiled basmati rice and raw basmati rice. Among these, parboiled basmati rice holds the majority of the total sales. The market is further segmented on the basis of pack size as institutional packaging and retail packaging. On a regional-basis, Saudi Arabia represents the largest region, accounting for the majority of the total global share. This can be attributed to the large consumer-base in the Kingdom as compared to the other countries in the region. Saudi Arabia is followed by the UAE, Kuwait, Qatar, Oman and Bahrain.
This report provides a deep insight into the GCC basmati rice industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a basmati rice processing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC basmati rice industry in any manner.
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