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Brown Rice Market Size, Share and COVID-19 Impact Analysis, By Nature (Organic and Conventional), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI106455

 

KEY MARKET INSIGHTS

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The global brown rice market size was USD 9.30 billion in 2020. The market is projected to grow from USD 9.71 billion in 2021 to USD 13.27 billion by 2028 at a CAGR of 4.57% during the forecast period (2021-2028). The global impact of COVID-19 has been unprecedented and staggering, with witnessing a positive impact on demand across all regions amid the pandemic. According to our analysis, the global market exhibited a higher growth of 0.41% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.    


The brown rice industry is witnessing significant growth across the world. The increasing knowledge regarding prebiotics and high-fiber foods and their positive impact on gut health have considerably increased the demand for this type of rice among consumers. The emerging trend of specialty rice, whole grains, and ancient grains is expected to further fuel the market growth during 2021-2028.


COVID-19 IMPACT


Growing Demand for Health Improving Foods to during COVID-19 to Augment Market Growth


Brown-colored rice has gained significant importance among consumers during the COVID-19 pandemic. Consumers nowadays continuously seek products that boost their immunity and improve health. The trend for purchasing healthy products from retail channels has considerably increased the sales of packaged tan rice amid pandemic. During the first few weeks, the industry experienced a supply disturbance due to nationwide lockdowns and transportation restrictions. However, the demand for brown-colored rice increased immediately as supermarkets, grocery stores, and e-commerce channels opened. The leading manufacturers, such as Riviana Foods, KRBL Limited, and LT Foods Limited, invested in ready-to-cook, ready-to-eat tan rice products to further increase sales during the lockdown period. Consumers are interested in cooking at home and purchasing packaged tan-colored rice, which boosted the sales. The growing knowledge regarding the health benefits of consuming this type of rice among consumers is anticipated to propel market growth during the foreseeable years.


LATEST TRENDS


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Rising Trend for Functional Foods among Consumers to Propel Market Forward


In recent years, consumers have been increasingly opting for products that enhance overall physical wellness. Growing consumer awareness towards the fact that improved gut health reduces the risk of lifestyle-related health conditions, such as diabetes, cardiovascular diseases, and obesity, has boosted the demand for fiber-rich, prebiotic foods that enhance gut health. The fast-growing trend of consuming high-fiber functional foods is encouraging manufacturers to develop tan-colored rice products. Moreover, research and studies have shown that fermented tan-colored rice can be used as a functional food as it has proved to be antidiabetic. The growing investments in innovation and development of novel brown-colored rice-based products, such as tan-colored rice syrup and pasta, are projected to drive the market growth in the forthcoming years.


DRIVING FACTORS


Growing Consumer Awareness towards Prebiotics and Gut Health to Augment Market Growth


The global market is driven by the rising demand for foods with high fiber content that help improve gut health and lower several chronic problems. The product is rich in vitamins and minerals such as vitamins B1, B3, & B6, phosphorus, manganese, and iron. It contains four-fold the amount of insoluble fiber as white rice.


The leading manufacturers are investing in such rice products benefit from the growing demand for high fiber functional foods.


This type of rice is also associated with weight loss as studies have shown that fiber helps regulate blood glucose levels. It is now gaining popularity across retail channels to accelerate the weight loss process. The emerging trend for organic foods due to the perception that organic products are safer will fuel organic tan-colored rice consumption. The growing interest in convenience foods is anticipated to fuel the demand for instant brown rice in future.


Increasing Popularity of Specialty Rice to Strengthen Market Outlook


In recent years, the concept of specialty rice has caught on among consumers. The trend is becoming popular as these rice varieties are considered ancient, safe, and healthy. Specialty rice includes this type of rice, red rice, and black rice. Consumers nowadays are turning from processed foods to unprocessed foods to improve their nutritional intake. Unprocessed foods are also perceived to be safer. This type of rice is unprocessed and unpolished, unlike white rice, which has increased its demand compared to white rice.


Moreover, the increasing popularity of whole grains has significantly amplified the demand for brown-colored rice among consumers. Recently, brown rice was added to the FDA-approved list of whole grains. This has significantly fueled the market growth in the past few years. The increasing discretionary income and rising health awareness among consumers in developing markets of the Asia Pacific and the Middle East are projected to fuel the brown rice market growth during the forecast period.


RESTRAINING FACTORS


Fluctuation in Brown Rice Prices to Affect Market Dynamics to Some Extent


The price of tan-colored rice is highly dependent on white rice. The volatility of rice prices acts as a major restraint to the market development. Rice is the second most-consumed grain across the globe. It is a staple food of many countries. It is mainly produced in Asian and South Asian countries and traded across the globe. Rice imports from countries in Europe and North America have significantly increased during the past decade. However, its price is extremely dependent on the weather, which makes it very volatile.


According to the U.S. Department of Agriculture (USDA), the price of rice was USD 413 per MT in April 2019 and increased to USD 564 per MT in 2020. A sharp rise in price greatly affects its trade and, in turn, hampers the market growth. The increasing investments in research on novel methods in rice agriculture are expected to reduce the weather impact. This will help tan-colored rice manufacturers to tackle the restraining factors for the market growth.


SEGMENTATION


By Nature Analysis


Conventional Brown Rice Segment to Dominate the Market Share through 2028


The value for conventional brown rice is the highest in the global market, led by its extensive global popularity and reach. Conventional brown rice is cheaper as compared to organic tan-colored rice and it’s easier to find in retail channels. In developing markets of Asia Pacific, the knowledge regarding organic agricultural methods is less than that in North American and European countries. This makes conventional tan-colored rice a major produce and most consumed.


However, organic and clean-label products are rapidly gaining traction in the functional food sector led by as consumers become more health conscious.


By Distribution Channel Analysis


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Wider Availability of Products and Freedom to Purchase Promote Sales Growth through Supermarkets/Hypermarkets


The supermarket/ hypermarket segment is continuously changing and the investors are capitalizing on purchasers' comforts to offer an easy shopping experience. Consumers can easily access varieties of brown-colored rice and choose according to their requirements. These channels also offer various discounts and offers that attract a larger consumer base and increase product sales.


Specialty stores are very popular in European countries as these stores offer novel and rare products. The growing interest in buying premium products fuels the sales through specialty stores. E-commerce or online retail stores are growing tremendously as they provide vast product variety and offer home deliveries of products of consumers’ choice. Online retail is expected to grow at the highest CAGR during the forecast period due to expanding internet facilities and rising knowledge regarding online ordering of foods.


REGIONAL INSIGHTS


Asia Pacific Brown Rice Market Size, 2020 (USD Billion)

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Asia Pacific to Lead due to Rising Consumer Awareness regarding Health Foods


Asia Pacific is witnessing promising growth due to increasing consumer awareness regarding the health benefits of this type of rice. Rising consumer discretionary income has allowed consumers to spend on health-improving products. Rice and tan-colored rice are the staple foods of various countries in Asia Pacific, which further drives the growth of the market. Changing lifestyles and adoption of healthier diets will promote the regional growth.


Europe is the fastest-growing region supporting the growth of the global market. The region is witnessing strong demand for this type of rice, attributed to the growing trend toward specialty rice and whole grains. Furthermore, the region poses tremendous opportunities for market growth due to the growing product demand among health-conscious consumers to boost immunity and improve overall health. The increasing demand for organic brown-colored rice across various European markets, such as Germany, Italy, and Spain, drives the market growth in the region.


North America is mainly fueled by growing public awareness towards health benefits offered by the product, including prebiotic characteristics and improved gut health.


South America is witnessing strong growth in the industry due to high production and export of rice from various countries such as Uruguay and Argentina. The growing trend for healthy foods across developing markets, including Brazil and Argentina is driving the market growth in the region. The increasing demand for organic grains is expected to amplify the demand for organic tan-colored rice in Latin America.


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The Middle East & Africa is at the nascent stage. The growing awareness regarding the health benefits of the product among upper class consumers in the markets of Turkey, UAE, Saudi Arabia and South Africa has considerably increased its demand. The rising trend of following Western diets is projected to drive the market growth in the foreseeable period.


KEY INDUSTRY PLAYERS


Riviana Foods, Inc. Focused on Expansion of its Production Facility to Strengthen the Business


Riviana Foods, Inc., a U.S.-based leader in brown rice, is actively investing in the expansion of its production capabilities to capitalize on the growing product demand among consumers. For instance, in April 2021, it announced an investment of USD 15 million to upgrade its instant rice production capacity. This has enabled the company to meet the growing product demand from consumers across the globe. The key players in the global market, such as KRBL Limited, LT Foods Limited, Kohinoor Foods Limited, and Kikkoman Corporation, are focusing on product innovations, acquisitions & mergers, and collaborations to further strengthen the market outlook. The entry of emerging major players in the market is fueling the market competition, which will work in favor of market expansion over 2021-2028.


LIST OF KEY COMPANIES PROFILED:



  • KRBL Limited (India)

  • LT Foods Ltd. (India)

  • Riviana Foods, Inc. (U.S.)

  • Kohinoor Foods Limited (India)

  • Lundberg Family Farms (U.S.)

  • Hain Celestial Group (U.S.)

  • New Bharat Group Rice Mills (India)

  • Pride India FMCG Limited (India)

  • Kikkoman Corporation (Japan)

  • Sukoyaka Brown Rice (Japan)


KEY INDUSTRY DEVELOPMENTS:



  • November 2020 – A grower-owned rice marketing cooperative, Farmers’ Rice Cooperative, reached an agreement to acquire the Woodland, California, U.S., a rice mill owned by Bunge Ltd. This acquisition was aimed to increase the production of brown-colored rice.

  • July 2019 – Riviana Foods, Inc. invested USD 27 million to double the production capacity of its Minute brand microwaveable rice products. These products also include organic brown-colored rice.


REPORT COVERAGE 


An Infographic Representation of Brown Rice Market

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The global brown rice market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, nature, and distribution channels of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


Report Scope and Segmentation:














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



 2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



By Nature




  • Organic

  • Conventional



By Distribution Channel




  • Supermarkets/Hypermarkets

  • Specialty Stores

  • Convenience Stores

  • Online Retail



By Geography




  • North America (By Nature, By Distribution Channel, and By Country)



      • U.S. (By Nature)

      • Canada (By Nature)

      • Mexico (By Nature)





  • Europe (By Nature, By Distribution Channel, and By Country)



      • U.K. (By Nature)

      • Germany (By Nature)

      • France (By Nature)

      • Italy (By Nature)

      • Spain (By Nature)

      • Rest of Europe (By Nature)





  • Asia Pacific (By Nature, By Distribution Channel, and By Country)



      • China (By Nature)

      • India (By Nature)

      • Japan (By Nature)

      • Australia (By Nature)

      • Rest of Asia Pacific (By Nature)





  • South America (By Nature, By Distribution Channel, and By Country)



      • Brazil (By Nature)

      • Argentina (By Nature)

      • Rest of South America (By Nature)





  • Middle East and Africa (By Nature, By Distribution Channel, and By Country)



      • Turkey (By Nature)

      • Saudi Arabia (By Nature)

      • Rest of the Middle East and Africa (By Nature)







Frequently Asked Questions

Fortune Business Insights says that the value of the market was at USD 9.30 billion in 2020 and is projected to reach USD 13.27 billion by 2028.

In 2020, the Asia Pacific market value stood at USD 3.98 billion.

Growing at a CAGR of 4.57%, the market will exhibit steady growth during the forecast period (2021-2028).

The conventional brown rice segment is expected to be the leading segment based on the nature of the global market during the forecast period.

Rising knowledge regarding the health benefits of this type of rice among consumers is the key factor driving the growth of the market

Riviana Foods, Inc., KRBL Limited, and LT Foods Limited are the top players in the global market

Asia Pacific is expected to hold the highest market share in 2020.

Growing knowledge regarding prebiotics and gut health and the emerging trend of functional foods are the major factors driving the adoption of tan-colored rice.

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