Basmati Rice Market is predicted to reach USD 26.89 billion at a CAGR of 9.00% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Basmati Rice Market”.

The Basmati Rice Market is estimated to register a CAGR of 9.00% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Basmati Rice Market— Adani Wilmar Ltd, ITC, East End Foods, TBA Suntra, Amira Basmati Rice, VSR Rice, The Rice 'n, Spice International Ltd., Kohinoor Foods, S.G.S. International Rice Company., LT Foods.

Basmati Rice Market Highlights

The global Basmati Rice Market is accounted to register a CAGR of 9.00% during the forecast period and is estimated to reach USD 26.89 billion by 2032.

The market for basmati rice is expected to develop as a result of rising consumer disposable income, increasing demand for fragrant rice and growing awareness of leading a healthy lifestyle. The demand for basmati rice has also increased due to the growing inclination for long-grain rice. It is anticipated that significant shifts in the way people consume food and the rise in popularity of dining outside will drive industry expansion.

Segment Analysis

The global Basmati Rice Market has been segmented based on Type, Species, Pack Size, End-use, and Distribution Channel.

Based on Type, the market is segmented into Parboiled and Raw. The Parboiled segment was attributed to holding the largest market share in 2023. One of the main benefits is that it has higher nutritional properties than white polished rice. Parboiling provides a longer shelf life to rice as the oils in the bran layer are set at an equilibrium. This leads to improved freshness of the rice, allowing it to be stored for a longer time without compromising its quality.

Based on the Species, the Basmati Rice Market has been segmented into White, Brown, and Others. The White segment was expected to hold the largest market share in 2023. White basmati rice is widely celebrated for its long, slender grains, unique scent, and magnificently fluffy texture once cooked. 

Based on the Pack Size, the Basmati Rice Market has been segmented into Retail Packaging and Institutional Packaging. The Retail Packaging segment was expected to hold the largest market share in 2023. Packaged Basmati rice typically originates from well-established brands that have earned consumer trust through years of reliability. Consumers are willing to invest more in branded Basmati rice products because they perceive them to offer superior quality and consistent standards. The expansion of distribution channels, encompassing supermarkets, hypermarkets, convenience stores, and online platforms, plays a pivotal role in enhancing the retail packaging segment. This increased accessibility ensures that packaged Basmati rice reaches a wider audience, driving its growth even further.

Based on the End-use, the Basmati Rice Market has been segmented into Industrial and Household. The industrial segment was expected to hold the largest market share in 2023. This is because the applications of basmati rice include food & beverages, nutraceuticals, bakery, and cosmetic industries. For instance, in April 2022, LT Foods launched the Dawaat Biryani Kit to help customers recreate authentic biryani right at their homes. Consequently, a wide spectrum of Basmati shelf items has penetrated the market and a greatly growing demand for them greatly added to the increase of the Basmati Rice Market Share.

Based on the Distribution Channel, the Basmati Rice Market has been segmented into Traditional, Modern, Retail, and HORECA. The Retail segment was expected to hold the largest market share in 2023. As a result of globalization escalation, Basmati rice can be found not only in regular supermarkets and hypermarkets but also in specialized stores along with online. This expansion of accessibility has turned out to be an overriding factor that has influenced the retail trade domain, with consumers being able to buy Basmati rice at their convenience.

Regional Analysis

The global Basmati Rice Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Basmati Rice Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Basmati Rice Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Basmati Rice Market comprises the Middle East, Africa, and Latin America.

The largest market share for the Basmati Rice Market was maintained by the North American regional sector. Basmati rice is popularly seen as a better calorie-conscious substitute to other forms of rice since it has a lower glycemic index and higher fiber content. As people become more and more health-conscious, they tend to substitute other types of rice with basmati rice in their meals. Health costs in the United States grew by 4.1% in 2022, reaching $4.4 trillion, which was an average of $13,493 per person. Health spending accounted for 17.3 percent of GDP in 2022, much as in pre-pandemic years (17.5 percent in 2019) after a rise in 2020 (19.5 percent) and 2021 (18.2 percent).

Moreover, the Europe market has been persistently growing over the forecast period. Europe is likely to gain the major share of basmati rice consumption globally since the demand for consumption and production of basmati rice in Europe are also increasing. Rice is cultivated on approximately 450.000 acres of farming land in about 27 European nations. In contrast with non-rice-growing countries like Southern Europe, which imported 3,5 kg up to 5 kg per year per capita while Southern Europe 6-18 kg, the largest rice-production countries in the EU are Italy and Spain which represent 80.0% of the total EU rice production.

In the Asia Pacific region, as stated in an article published by Rice Today in 2022, over 90% of rice is consumed in Asia. China, India, Indonesia, and Bangladesh are the premier suppliers of basmati rice in this region and, therefore, contribute to the growth of the regional market Size. India’s basmati paddy output is up from 11 million tonnes (mt) in 2022-23 to 13 mt. Exports of basmati rice stood at 44.15 lakh tonnes in 2018-19; 44.55 lakh tonnes in 2019-20; 46.30 lakh tonnes in 2020-21; and 39.44 lakh tonnes in 2021-22. Basmati rice is exported, which is expected to contribute to the growth of the basmati rice market.

Furthermore, the rest of the world's Basmati Rice Market is divided into the Middle East, Africa, and Latin America. Rice has been one of the most eaten cereals in the UAE, and the U.S. Department of Agriculture (USDA) projects that the UAE rice consumption in 2022–23 market years (January 2024– December 2024) will increase by 5% or 50 MMT to reach 1.050 MMT. The trend of consumers from these regions becoming more wealthy and health-conscious offers a higher preference for premium rice varieties that are imported, like Basmati, among the traditionally grown varieties.

Key Findings of the Study

• The global Basmati Rice Market is expected to reach USD 26.89 billion by 2032, at a CAGR of 9.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because of the escalating export demand for basmati rice in different parts of the world, especially in the Middle East region.


• Based on Type, the Parboiled segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.


• Adani Wilmar Ltd, ITC, East End Foods, TBA Suntra, Amira Basmati Rice, VSR Rice, The Rice 'n, Spice International Ltd., Kohinoor Foods, S.G.S. International Rice Company., and LT Foods are the key market players.