sales@reportocean.com (Bussiness Sales)
+18882123539 (Us - Toll Free)
+919997112116 (Rest Of World)
GCC Basmati Rice Market, By Form (Raw, Parboiled); By Price (Standard, Premium); By Sales Channel (Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, Others); By Country (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain), Trend Analysis, Competitive Landscape & Forecast, 2018-2028

GCC Basmati Rice Market, By Form (Raw, Parboiled); By Price...

Home / Categories / Food and Beverages
GCC Basmati Rice Market, By Form (Raw, Parboiled); By Price (Standard, Premium); By Sales Channel (Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, Others); By Country (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain), Trend Analysis, Competitive Landscape & Forecast, 2018-2028
GCC Basmati Rice Market, By...
Report Code
RO7/142/1035

Publish Date
22/Aug/2024

Pages
200
PRICE
$ 1800/-
This is a single user license, allowing one specific user access to the product. The product is a PDF.
$ 2350/-
This is a 1-5 user license, allowing up to five users have access to the product. The product is a PDF.
$ 2850/-
This is an enterprise license, allowing all employees within your organization access to the product. The product is a PDF..
Report Overview
South Asian expatriates' high and wide presence across GCC (Gulf Cooperation Council) countries, increasing demand for better quality rice, and foreign investments in rice imports could drive GCC Basmati Rice Market at a steady growth rate during the forecast period between 2022 and 2028.

GCC Basmati Rice Market - Industry Trends & Forecast Report, 2028

GCC basmati rice market size was estimated at USD 1.94 billion in 2021. During the forecast period between 2022 and 2028, the size of GCC basmati rice market is projected to grow at a CAGR of 5.9% reaching a value of USD 2.92 billion by 2028. One of the main drivers of the market's expansion is the lack of rice production in the GCC due to unfavorable climatic conditions, which is combined with the rising demand for rice of higher quality. Additionally, as wheat and basmati rice are both considered staple foods in the GCC nations, the import of basmati rice from India and Pakistan is increasing at a high rate. Furthermore, the region's overall sales of basmati rice are being driven by a high presence of South Asian expatriates in GCC countries. In addition, the rising prevalence of lifestyle diseases brought on by a lack of physical activity is making people more aware of their health. The consumption of brown basmati rice, which has a low-fat content and a high nutritional value, has significantly increased. Additionally, government organizations working in various GCC countries are promoting foreign investments in the import of rice, which is expected to drive the expansion of basmati rice market in the GCC region.

GCC Basmati Rice Market - Overview

Basmati rice is a long-grain aromatic rice that has been grown for centuries in the Himalayan foothills of the Indian subcontinent. It has long, slender grains that elongate at least twice their original length. When cooked, it has a soft and fluffy texture as well as a nutty flavor. It contains a high concentration of fiber, minerals, vitamins, zinc, copper, proteins, calcium, potassium, magnesium, carbohydrates, amino acids, and folic acid. It now plays an important role in the Middle Eastern cuisine, where it is used to make a variety of lavish rice-based dishes with layers of rice, meat, sauces, and dried fruits.

GCC Basmati Rice Market

Growth Drivers

Growing demand for better quality rice

Basmati is one of the best varieties of rice in the world, which is renowned for its smooth, slender, tapering grains and distinct flavor and aroma when cooked. 85% of the market for basmati exports is made up of the premium variety from India. In 2021, Saudi Arabia (USD 95 billion) and the UAE (USD 20 billion) were the two countries that imported the most basmati rice. The demand for basmati rice continues to rise among its consumers. The rise in consumer disposable income and awareness of the importance of living a healthy lifestyle is viewed as key drivers of the basmati rice market's growth. Furthermore, the increasing demand for long-grain rice is expected to spur the demand for basmati rice during the forecast period. Significant changes in food consumption patterns, as well as an increase in the trend of eating out, are expected to drive the growth of GCC basmati rice market.

Impact of COVID-19 on GCC Basmati Rice Market

The COVID-19 pandemic drastically altered the demand and consumption patterns of many businesses across industries. Due to the extensive supply and production bottlenecks that developed because of restrictions on economic activities, the pandemic saw the food industries scrambling to find new production strategies and consumer propositions. Additionally, retail chains suffered from a lack of variety on their shelves, which significantly changed the dynamics of the basmati rice market. Due to restrictions on human movement in 2020, many companies had to change their consumer targeting strategies to keep customers interested in making online purchases. In comparison to other industries, the COVID-19 pandemic's lockdowns had little effect on the rice industry. The global market is expanding due to the rising demand for cereal grains. After the COVID pandemic, the demand for packaged and fast food has increased, which will benefit market players. Consequently, a healthy market growth rate is expected for GCC basmati rice market in the coming years.

GCC Basmati Rice Market - By Form

By form, GCC basmati market is categorized into Raw and Parboiled segments. Because of its superior quality, fragrance, and taste, raw basmati rice is in much higher demand than parboiled and steamed basmati rice. The raw basmati rice segment is expected to remain at the top for the foreseeable future. Basmati rice is classified into two types based on its species: white and brown. Most people prefer white basmati rice. However, due to increased awareness of its health benefits, brown basmati rice is expected to grow rapidly in the coming years.

GCC Basmati Rice Market- By Price Range

By price range, GCC basmati market is split into Standard and Premium segments.

GCC Basmati Rice Market- By Sales Channel

By sales channel, GCC basmati rice market is segmented into Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, and Others. The supermarkets/hypermarkets segment held the highest market share in the GCC basmati rice market by sales channel. Consumers prefer to buy consumer goods, groceries, and food products, such as grains offline, where they can physically inspect the product quality. Furthermore, store accessibility and searchability for various grains could drive the segment growth. Because of improved distribution networks and the availability of variety of basmati rice in a single store, the supermarkets/hypermarket channel segment is expected to maintain its dominance during the forecast period.

GCC Basmati Rice Market - By Country

GCC basmati rice market covers major countries in the region: Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain. Saudi Arabia hold the highest market share. This can be attributed to the kingdom's large consumer base in comparison to the other countries in the region. Saudi Arabia is followed by the UAE, Kuwait, Qatar, Oman, and Bahrain.

Competitive Landscape

GCC basmati rice market is fiercely competitive. Prominent players in the market include Nur Jahan, India Gate, Daawat, Tilda, Mumtaz, Goodness Foods, Kohinoor, Fortune, Albadia, and Dunar. These market leaders use key strategies, such as new product and service launches, mergers and acquisitions, partnerships, collaborations, and joint ventures. To further grow their market share, these companies are also focusing on investing in innovations and expansions.

Recent Developments

In November 2022 - SALIC (Saudi Agricultural and Livestock Investment Company) a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, formed a strategic partnership with LT Foods, an India-based global leading player in the specialty rice and rice food products. LT Foods supplies and distributes basmati rice under its well-known Daawat brand. As a part of the partnership agreement, SALIC purchased a 9.22% stake LT Foods for INR 390 crore.

By Form
Raw
Parboiled

By Price
Standard
Premium

By Sales Channel
Supermarkets/Hypermarkets
Departmental Stores
Specialty Stores
Others

By Country
Saudi Arabia
UAE
Qatar
Kuwait
Oman
Bahrain

OUR CLIENTS

500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, UNITED STATES
+18882123539
sales@reportocean.com