India Packaged Rice Market to Grow at 11% until 2023
Rising brand consciousness among
consumers, increasing per capita disposable income along with growing urban
population to drive India packaged rice market
through 2023
According to TechSci Research
report, ‘India
Packaged Rice Market By Type, By Distribution Channel, By Price Range, By
Pack Size, By State & City, Competition, Forecast & Opportunities, 2023’,
India packaged rice market is anticipated to register growth at a CAGR of more
than 11% during 2018 - 2023. Rice is the most widely consumed staple food for a
large part of global population and is divided majorly into two types - Basmati
and Non-Basmati. ‘’Basmati” is long grain aromatic rice
grown for many centuries in specific geographical areas at the Himalayan
foothills of Indian sub-continent. Any rice other than basmati rice is called
non-basmati rice. Anticipated growth in the packaged rice market can
be attributed to growing brand consciousness among consumers and rising
disposable income in India. Moreover, a shift towards packaged, branded
products with better quality, grain size, and post-cooking attributes, like
aroma and taste, is being witnessed in the Indian households.
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West and North region of the country cumulatively accounted for major
share in India packaged rice market, owing to the regions’ large population
base. Moreover, cities like Mumbai, Pune, Ahmedabad and New Delhi are some of
the largest markets in India for packaged rice due to their large urban
population. Among distribution channels, independent small grocery is the
leading segment. However, in the coming years, supermarket/hypermarket and online
sales channel are anticipated to grow at a swift pace on account of increasing
consumer preference for non-store-based retailing.
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“India packaged rice market is anticipated to grow at a good pace
in the coming years due to rising shift towards packaged and hygienic food
products. Moreover, with increasing health consciousness, people are showing
inclination towards organic food products, which includes organic rice as well.
This is the reason, leading players are increasingly focusing on expanding
their product portfolio to include more varieties of rice for health conscious
consumers. Additionally, rice companies are focusing on
expanding their distribution channel and innovation in packaging of rice,
thereby making the products more appealing, which is expected to positively
influence India packaged rice market during forecast period.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Packaged
Rice Market By Type, By Distribution Channel, By Price Range, By Pack Size,
By State & City, Competition, Forecast & Opportunities, 2023” has evaluated the future
growth potential of India market and provides statistics and information on
market structure, size, share and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in India packaged rice market.
About TechSci Research
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