According to the latest report by IMARC Group, titled “GCC Basmati Rice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the GCC basmati rice market size reached 2 Million MT in 2018. The basmati rice is a unique species of long grain aromatic rice originating in the Indian subcontinent. Characterized by a floral aroma and nutty flavor, it is available in two forms: white and brown. It is low in fat, gluten-free and has a low to medium glycemic index. Additionally, it is rich in fiber, vitamins, minerals, copper, zinc, calcium, potassium, magnesium, carbohydrates, protein, amino acids and folic acid while containing lower amounts of sodium and no cholesterol. Owing to the presence of these nutrients and its distinct taste, it is utilized as a primary ingredient in the preparation of a vast array of rice-based dishes across the globe, especially in the GCC region.
GCC Basmati Rice Market Trends:
The market in the GCC region is primarily driven by an increase in the demand for high-quality rice. On account of unsuitable climatic conditions, there has been a lack in the production of rice which has led to the rise in the import of basmati rice from South-Asian countries. Additionally, the increasing prevalence of obesity and other lifestyle disorders in the region, owing to the lack of physical activities, has resulted in the rising health-consciousness among the masses. Consequently, they are increasingly incorporating brown basmati rice in their daily diet, owing to its low-fat content and high nutritional value. Moreover, the growing Asian expatriate population has also impelled the demand for high-quality rice, which in turn has provided a thrust to the market growth. On account of the aforementioned factors, the market is anticipated to experience steady growth during 2019-2024.
- On the basis of the type of rice, the market has been divided into basmati and non-basmati, and parboiled and raw.
- Based on the pack size, the market has been bifurcated into retail and institutional packaging. Amongst these, retail packaging accounts of the majority of the total market share.
- On the basis of the country of origin, the market has been segmented into India, Pakistan and others, wherein India represents the largest exporter of basmati rice.
- On the geographical front, the market has been classified into Saudi Arabia, the UAE, Kuwait, Oman, Qatar and Bahrain. At present, Saudi Arabia holds the leading position in the market, exhibiting a clear dominance in the market.
- The competitive landscape of the market has been studied in the report, with the detailed profiles of the key players operating in the market.
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