According to a new report published by Allied Market Research, titled, “Red Rice Market by Product Type, Nature, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global red rice market size was valued at $2,915.0 million in 2020, and is projected to reach $4,110.9 million by 2030, registering a CAGR of 3.5%. Europe was the highest revenue contributor, accounting for $1,301.5 million in 2020, and is estimated to reach $1,736.9 million by 2030.
The demand for red rice is increasing among consumers, as it is a rich source of fibers, which offer many health benefits such as it lowers cholesterol, promotes fullness, prevents the formation of blood clots, and improves digestive health, thus creating a lucrative opportunity for the expansion of the global red rice market. Furthermore, increase in efforts by major players in packaging attracts a large consumer base. In addition, innovation in planting & cultivation of rice globally gives higher yield and is proven to be more efficient than the traditional methods, thereby aiding the production of red rice and protecting the environment from the excessive use of chemicals, insecticides, and pesticides in agriculture.
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Companies are focusing on diversification of their business and positioning their products in a right manner to get the target market. They are introducing products that are healthy and obtained from rice. Red rice is widely consumed as a traditional food in Europe. A key element expected to boost the global market’s growth is the growing number of government rules and requirements linked to the safety and quality of food grains around the world.
According to red rice market analysis, the red rice market segmented into product type, nature, distribution channel, and region. On the basis of product type, the red rice market report is categorized into Rakthashali, Thai Red Cargo rice, Bhutanese red rice, and others. By nature, it is segregated into conventional and organic. According to distribution channel, it is divided into supermarket & hypermarket, municipal corporation stores, convenience stores, specialty store, online stores & others. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on product type, Rakthashali segment held the major share of 44.6% in the global market. Rakthashali rice is natural red rice variant with red husk & grain that have high medicinal value. It is rich in antioxidants, calcium, zinc, iron, and other minerals which has led the red rice market growth over the forecast period.
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On the basis of nature, the organic segment held the major red rice market share. The propensity of consumers to spend more on organic has been positive for red rice and its products. Consumers expect that their product is manufactured in an ethical manner and they also associate organically certified as a product that has been produced and processed in a chemical free manner. This is attributed to evolving lifestyle and changing trends in the food industry, which has boosted the demand for healthy food ingredients.
On the basis of distribution channel, the supermarket/hypermarket and municipal corporation stores are the most prominent segment in the red rice market. This is attributed to the fact that these stores provide high visibility and attractive assortment of products to consumers. This enables them to discover new variety and understand the labels and differentiate better among products. Furthermore, supermarket chains are one of the frequently visited stores for purchasing grocery items. Hence, this factor is expected to boost the sales of red rice in the market during the red rice market forecast period.
On the basis of region, Europe was the prominent market in 2020, accounting for the maximum share in the global red rice market due to tremendous popularity and substantial consumption of plant-based foods in the region. In addition, this region is one of the largest producers and consumers of farro and its products. In addition, growing interest in its nutritional content, increasing attention to local traditions and ancient foods from consumers, growing interest in agrobiodiversity conservation and diversification of cropping system has propelled demand in the region.
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The key players profiled in this report include Lotus Foods, Inc, Urmatt Ltd, Ceylon Pure, Wuhan Jiacheng Biotechnology Co. Ltd, Lundberg Family Farm, Woodland Foods, Inc, The Kruger Co, Mars, Inc, Riviana Foods, Inc, and Fabrar Liberia, Inc.
Key findings of the study In Red Rice Market
- By product type, the Rakthashali segment held the highest share, accounting for 44.6% of the global Red Rice market.
- Based on nature, the organic segment held the major share of 64.1% of the market.
- Region wise, Europe held the major share in the red rice industry, and is expected to remain dominant throughout the forecast period.
