Europe Basmati Rice Market Size 2023, Growth, Rising Trends, Revenue, Industry Share, Business Challenges, Opportunities and Forecast Analysis till 2033: SPER Market Research
Elongated grains, distinct flavour, and aroma characterise basmati rice, a long-grain rice variant. Native to the Indian subcontinent and its surrounding areas, basmati rice is prized for its culinary adaptability and is used in many different cuisines across the world, including European cuisine. The reason for its widespread appeal is its unique scent, airy consistency, and capacity to blend well with an extensive variety of savoury and flavorful foods.
According to SPER market research, ‘Europe Basmati Rice Market Size- By Product Type, By Application, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Europe Basmati Rice Market is predicted to reach USD 940.27 million by 2033 with a CAGR of 4.2%.
The market is expanding due to the notable increase in demand for basmati rice from European nations like Germany and the Netherlands. Iran was India’s largest importer of basmati rice; but, due to restrictions on imports, including price caps, Indian exporters are turning their attention to other markets. Many European nations profit financially from the ban on basmati rice, which contributes to the growth of the basmati rice market in Europe. In order to prevent blast disease in crops, particularly rice harvests, the European Union plans to reduce the residual limit for a number of food crops that contain tricyclazole.
Price volatility and cost sensitivity, which are impacted by weather and trade policy, provide difficulties for the European Basmati rice market. It is difficult for producers and consumers to deal with price changes because of this unpredictability. Furthermore, the COVID-19 epidemic has made supply chain disruptions worse, making it more difficult to obtain and distribute Basmati rice goods in the European market. The rivalry from other rice cultivars, such Arborio and Jasmine rice, is also a problem because they provide comparable culinary attributes at possibly lower costs. The dynamics of the European rice market can also be further complicated by trade barriers and regulatory requirements in importing countries, which can restrict market access and have a detrimental impact on the export potential of regions that produce Basmati rice.
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Impact of COVID-19 on Europe Basmati Rice Market
Consumers shifted to online sales channels to buy consumer food items as a result of the COVID-19 epidemic disrupting the European basmati rice industry’s brick and mortar store sales. This led to an increase in online sales of agricultural and agri-products. However, the food and beverage industry is predicted to rise and is expected to enhance the sales of Europe’s basmati rice products throughout the forecast period due to the relaxation of lockdown limitations and improved logistics in light of the COVID-19 preventive measures.
The United Kingdom is a significant importer of basmati rice from India, particularly since imports from Iran were prohibited and the European market was stimulated. As a result, in the upcoming years, it is anticipated to develop at the fastest rate among the basmati rice markets. In addition, another significant element contributing to the growing need for rice to feed the population is the growing number of migrants and tourists entering the United Kingdom. Moreover, basmati rice is becoming increasingly popular in the UK since India is one of the top manufacturers of this type of rice, which has a remarkable flavour and scent.
Europe Basmati Rice Market Key Players:
Additionally, some of the market key players are Amira Basmati Rice, Amira Nature Foods, East End Foods, Estraco, HBI, Others.
Europe Basmati Rice Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Europe Basmati Rice Market is segmented as; Indian Variety, Pakistan Variety.
By Application: Based on the Application, Europe Basmati Rice Market is segmented as; Commercial, Home.
By Distribution Channel: Based on the Distribution Channel, Europe Basmati Rice Market is segmented as; Grocery Stores, Hypermarkets/Supermarkets, Online, Others.
By Region: This research also includes data for Belgium, France, Germany, Italy, Russia, Spain, The Netherlands, UK, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Europe Basmati Rice Market Future Outlook
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