January 28, 2021
According to the research report titled ‘Europe Basmati Rice Market Analysis, 2020’, available with Market Study Report LLC, Europe basmati rice market is predicted to record 4% CAGR during 2020-2025.
Growing consumption of rice, escalating urban population, and soaring demand from regions like Netherlands, Germany, and UK are the key factors propelling Europe basmati rice market growth. As per Ricepedia, demand for long-grain Indica rice and exotic varieties including jasmine or basmati rice (and organic rice) in Europe surged by 6% yearly.
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Notably, basmati rice is famous for its unique cooking properties, aroma, and is much more costly as compared to other long grain rice.
The outbreak of COVID-19 pandemic has adversely impacted Europe basmati rice industry remuneration with lockdowns and restrictions imposed by government to control the coronavirus spread. Further, the industry also witnessed disruptions I supply demand chain as well as exports with the virus on its peak in European economies in early 2020. Although, the sales of rice are likely to increase in the succeeding year.
Based on packet weight, Europe basmati rice market is divided into above 10 kg, 5.1 to 10 kg, 2.1 to 5 kg, and up to 2 kg. Elaborating on origin, the industry is bifurcated into Pakistan and India. Moving on to type, the market is categorized into unhusked and husked. With respect to end users, the market is classified into commercial and homes. As per distribution channel, the market is split into on trade, home delivery, convenience stores, and hypermarkets & supermarkets.
Speaking of the geographical scope, India is the top producer and exporter of basmati rice, accounting for 70% of global basmati rice production. Various types of basmati rice of India are approved for export to Europe namely Super Basmati, Basmati 217, Basmati 386, Taraori Basmati, Ranbir Basmati, Pusa Basmati, and Basmati 370.
The report states that out of total 8.2 million tons of the India’s rice exports, it exported 3.7 million tons of basmati rice. In Pakistan, 52% of the total cultivated rice region is occupied by basmati rice. Pakistan exported 677,000 tons of basmati in 2014-2015.
On the other hand, Italy basmati rice industry is expected to grow substantially owing to its being the largest consumer. The Italian population is reducing and restricting the amount of pasta in their diets due to growing health issues and are increasing the intake of healthier grains, such as rice. In addition, escalating population is also contributing to the regional market outlook.
The competitive landscape of Europe basmati rice market is defined by Kohinoor Foods Ltd., The Rice N Spice International Ltd., VSR Rice, Amira Nature Foods Ltd., S.G.S. International Rice Company, T.B.A. Suntra B.V., East End Foods Limited, Estraco LLC, HBI Co. Ltd., and Amira Nature Foods Ltd.