India Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

India rice market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), and trade in terms of Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend analysis of rice.

Market Snapshot

intro
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 2.7 %

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Market Overview

India rice market is projected to register at a CAGR of 2.7% during the forecast period (2021-2026).

The COVID-19 has resulted in increasing consumption of rice due to changes in health habits in the country. However, travel restrictions have shown a slight impact on the market.

According to the FAO, the rice production in India was 177.6 million metric tons in 2019. India is the second-largest rice producer in the world after China, with more than 11.0% of the global production share. The cultivation of high-yielding rice varieties such as IR 64, CR 2301, Kudrat 5 and others, leads India as the second-largest rice producer in the world after China, with more than 11.0% of the global production share. 

Rice production in the country has increased by 3.5 times in the last 60 years. Higher demand for Indian rice from North America and European regions coupled with good climatic conditions are supporting the growth of the market. This also results in higher productivity than other Asian countries such as Thailand and Pakistan. Major rice-producing states in India are West Bengal, Uttar Pradesh, Andhra Pradesh, Punjab, Tamil Nadu, Odisha, and Bihar.

Scope of the Report

Rice is the most important cereal food crop of India, occupying one-fourth of the gross cropped area of the country. As the basic food crop, rice is cultivated comfortably in a hot and humid climate. In the country, the crop is mainly grown as a Kharif crop in rainfed areas that receive heavy annual rainfall. India rice market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), and trade in terms of Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend analysis of rice.

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Key Market Trends

High Demand for the Indian Rice across the Globe

According to ITC trade Map, In 2019 India has been the top exporter in the global rice trade, accounting for 29.3% of the global rice exports. According to the ITC Trade Map, Iran, Saudi Arabia, Iraq, United Arab Emirates, and other middle east countries are the major importers of rice from India. There is a high demand for the Indian basmati rice variety in the European Union and the United States which is further boosting the rice export from India. With the increasing demand for rice globally, exports are increasing from India. There is a growth of 6.0% per annum in the exports values between 2016-2019. The country exported 9,819.0 thousand metric ton of rice in 2019. Furthermore, the growing consumption of rice in emerging and developing nations across the world may drive the growth of rice exports during the forecast period.

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Enhancing Production Capacities

India is one of the top ten rice-producing countries in the Asia-Pacific, which is endowed with a wet environment suitable for rice cultivation. Rice-based farming is the main economic activity for hundreds of millions of poor rural farmers in the region. The major rice varieties grown in India include parboiled rice, broken rice, Sella rice, Swarna rice, Sona masoori rice with a share value of 12.9%, 5.3%, 2.2%, 1.5%, and 1% respectively. India is well-known for both basmati and non-basmati rice production. There is an increase of 8.5% in the total rice production from 2016-2019 and projected to grow further due to the wider adoption of high-yielding rice varieties in the country.

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 Production Analysis (Volume)

    2. 5.2 Consumption Analysis (Value and Volume)

    3. 5.3 Import Analysis (Value and Volume)

    4. 5.4 Export Analysis (Value and Volume)

    5. 5.5 Price Trend Analysis

  6. 6. REGIONAL ANALYSIS

    1. 6.1 PESTLE Analysis

    2. 6.2 Government Policies and Regulations

    3. 6.3 Value Chain Analysis

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The India Rice Market market is studied from 2016 - 2026.

The India Rice Market is growing at a CAGR of 2.7% over the next 5 years.

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