Market Trends of Packaged Rice Industry
This section covers the major market trends shaping the Packaged Rice Market according to our research experts:
Increasing demand for Premium Packaged Rice
The rise in consumer awareness of the safety and quality of food products is driving the demand for premium packaged rice markets. The premium packaged rice brand that facilitates the communication of attributes such as quality, traceability, and production practices such as organic, fair trade, sustainable production, sustainable value chain upgrading, and reducing the climate footprints of rice production is boosting the sales of premium packaged rice which drivers for food safety. The emergence of a wide range of products in premium rice products such as basmati rice, brown rice, and red rice and the commercial advertisements across various channels by premium packages rice players are boosting sales. Moreover, the players are producing quick-cooking rice. For instance, in June 2022 Lotus Foods, an organic rice company launched Organic White Quick Cook Rice, short grain rice the company claims that the rice cooks in just 10 minutes or about half the time of most white rice.
Asia-Pacific Region Dominates the Market
According to the International Rice Research Institute, rice is a staple for nearly half of the world's seven billion people. However, more than 90% of this rice is consumed in Asia, especially in India, Japan, and China, and the region has a wide range of rice-based cuisines. The demand for packaged rice is expected to rise due to food safety and nutrition concerns as the chances of contamination in loose rice are very high due to the environment's physical, chemical, and biological reactions. Moreover, with the increase in disposable income and improvement in the standard of living consumers in the Asia-Pacific region have replaced loose rice with packaged rice. Also, packaging can be seen as the modernization of the food retail sector's shift from an emphasis on intrinsic to extrinsic quality attributes because it makes it easier to communicate extrinsic quality attributes, which can educate consumers about the quality, safety, and nutrition of food products. Consumers residing in urban and semi-urban areas in the Asia Pacific region are more inclined towards packaged rice due to the convenience, quality, and safety of rice.
