Market Size of Rice Milling Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rice Milling Machinery Market Analysis
The Rice Milling Machinery Market size is estimated at USD 230.14 million in 2023, and is expected to reach USD 280 million by 2028, growing at a CAGR of 4% during the forecast period (2023-2028).
- Rice, the primary staple for more than half the world's population, is produced worldwide, with about 90 percent grown in Asia. While Indica, Aromatic(Jasmine and Basmati), Japonica, and Glutinous rice are four major categories of rice, many other specialty varieties of rice are also produced globally.
- The demand for certified rice milling machinery is driving the growth of the rice milling machinery market. This is because certified machinery ensures high-quality rice processing, which is necessary to meet the growing demand for rice. As rice is a staple food in many countries, the demand for rice is expected to remain high in the foreseeable future. This, in turn, will continue to drive the demand for rice milling machinery.
- However, the availability of pre-used models of rice milling machinery may impede the market growth. Regarding the latest development in rice milling technology, the Satake New Tasty White Process (NTWP) is a breakthrough in rice processing. The NTWP process produces rinse-free rice of enhanced quality in terms of taste and appearance. This technology has the potential to revolutionize the rice milling industry by offering higher-quality rice while reducing water usage and processing time. This could lead to increased efficiency, reduced costs, and ultimately, higher profits for rice millers.
- The stipulation for rice is expanding with the rising global population, which led to many rice processing plants opening new rice mills and boosting the market's growth. India is the largest producer and exporter of Basmati rice and one of the largest exporters of rice. Rice milling is perhaps the country's oldest and biggest agro-processing industry.
