Market Size of Italy Rice Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 2.34 Billion |
Market Size (2029) | USD 2.97 Billion |
CAGR (2024 - 2029) | 4.84 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Italy Rice Market Analysis
The Italy Rice Market size is estimated at USD 2.34 billion in 2024, and is expected to reach USD 2.97 billion by 2029, growing at a CAGR of 4.84% during the forecast period (2024-2029).
- Rice cultivation is mostly located in Northern Italy (Piemonte, Lombardia, and Veneto regions) where water is relatively abundant and the rice crop can be raised in flooded fields. Approximately 84.0% of rice varieties grown in Italy are Japonica, while the remaining is Indica.
- A rice variety that is widely cultivated for domestic consumption is the 'Lungo A' grain. This broad category includes Carnaroli, Arborio, Baldo, S. Andrea, and Volano types. In terms of foreign exchange, rice is one of the most commercially important cereal crops in Italy. Since the introduction of the European Community policy, the cultivated rice area in Italy increased mainly owing to favorable market conditions for Italian paddy production.
- An increase in the demand for rice by Italian rice-importing countries and the consumption of rice locally led to demand for rice purchase in the country. As a result, there is a significant increase in rice prices. Average rice production in Italy is 1.3 million metric ton, 53.0% of which is exported to other European countries.
Italy Rice Industry Segmentation
Rice is a grain of Oryza sativa and is a major staple food in many countries. It is known as paddy when threshed and is covered by a fibrous husk that comprises nearly 40% of the grain. Italy rice market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers data in terms of Value (USD Thousand) and Volume (Metric Ton) for the above-mentioned segments.
Italy Rice Market Size Summary
The Italian rice market is a significant sector within the country's agricultural industry, primarily concentrated in the northern regions such as Piemonte, Lombardia, and Veneto, where the climate and water availability are conducive to rice cultivation. Italy is the leading rice producer in Europe, with a substantial portion of its production being Japonica varieties, including popular types like Carnaroli and Arborio. The country's rice industry benefits from favorable market conditions and European Community policies that have encouraged expansion in cultivated areas. Italy's rice production is not only vital for domestic consumption but also plays a crucial role in international trade, with a significant percentage of its output being exported to other European countries. The demand for Italian rice is bolstered by its use in traditional dishes like risotto and its growing popularity in gluten-free and ethnic cuisines.
The market is poised for growth, driven by increasing domestic consumption and rising demand from international markets. Italy's rice industry is supported by a network of companies and a workforce that contributes to its economic impact. However, the sector faces challenges such as high production costs and reliance on imports for specialty rice varieties, necessitating strong trade partnerships, particularly with Asian countries. The growing interest in sustainable and organic rice presents opportunities for Italian producers to enhance their competitive edge. Initiatives like carbon credit programs and regenerative agriculture projects highlight the industry's commitment to reducing environmental impact and improving sustainability. These developments underscore the dynamic nature of the Italian rice market, which continues to evolve in response to both domestic and global trends.
Italy Rice Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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2. MARKET SEGMENTATION
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2.1 Production Analysis
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2.2 Consumption Analysis (Volume and Value)
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2.3 Import Market Analysis (Volume and Value)
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2.4 Export Market Analysis (Volume and Value)
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2.5 Price Trend Analysis
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Italy Rice Market Size FAQs
How big is the Italy Rice Market?
The Italy Rice Market size is expected to reach USD 2.34 billion in 2024 and grow at a CAGR of 4.84% to reach USD 2.97 billion by 2029.
What is the current Italy Rice Market size?
In 2024, the Italy Rice Market size is expected to reach USD 2.34 billion.