According to the report, the Europe Basmati rice market is expected to accrue $615 million by 2023 from its value of $491 million in 2016. The market will exhibit a compound annual growth rate of 3.2% during the forecast period.
Portland, OR -- (SBWIRE) -- 08/30/2017 -- Allied Market Research published a detailed report on the Europe basmati rice market. The report presents a qualitative and quantitative analysis to give a deeper understanding of the market. Current market trends and predicted developments in the forecast period included in the report enable the potential investors and new entrants of the market to take informed decisions. The top impacting factors, most lucrative investment options, and all other information are supported by vital statistical data, tables, charts, and figures to add credibility to the claims made in the report.
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Basmati rice, one of the highest qualities of rice grown in Pakistan and the Indian subcontinents, is exported to countries all across the globe. The rice has a unique aroma and the grains are extra long which lead to a price higher than its contemporaries. According to the report, the Europe Basmati rice market is expected to accrue $615 million by 2023 from its value of $491 million in 2016. The market will exhibit a compound annual growth rate of 3.2% during the forecast period.
Porter's Five Forces model analyses the influence of suppliers, buyers, new entrants, substitutes, and competitive rivalry among the players on the market. There has been an increase in the consumption of rice in several European countries driving the growth of the Europe basmati rice market. A decrease in the price of basmati rice has led to its deeper penetration in the European markets. The Indian exporters have started focussing on the other markets after the ban and price cap imposed on the basmati rice imported into the country. The European Union has imposed stringent regulations on the residual limit of fungicides like tricyclazole, thus limiting the growth of the basmati rice market.
The report segments the European basmati rice market on the basis of the type, application, and the geography. There are two variants of basmati rice available in the market- the Indian variety and the Pakistan variety. Basmati rice is widely used in homes as well as in the commercial sector owing to its unmatchable taste and quality. The report analyzes the presence of the basmati rice market across the regions of Europe such as UK, Germany, France, Spain, Italy, Russia, Belgium, Netherlands, Poland and the rest of Europe.
The company overview, snapshot, expertise in operating in different business segments, and the key strategic moves and developments of the leading players in the market have been extensively covered to impart a thorough knowledge of the market dynamics and the key factors to generate massive revenues. The prominent players in the market include Amira Basmati rice, HBI, Estraco, East End Foods, TBA Suntra, S.G.S. International Rice Company, Amira Nature Foods, VSR Rice, The Rice n Spice International Ltd., and Kohinoor Foods.
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Key points to be considered
The report provides information on the factors affecting the dynamics of the market such as key driving factors, major restraints, and the wide range of opportunities available.
Based on the geography, the market will be dominated by Russia in the forecast period. It will grow at a CAGR of 6.7%.
Segment-wise the Indian variety of basmati rice is expected to grow at the highest CAGR of 3.3%.
The UK, the leading importer of basmati rice from India, experienced the highest demand for basmati rice.
The report has profiled the key market players and their winning strategies to enable the new entrants and potential investors to take informed decisions and create a strong foothold in the market.