Report Overview

GCC Basmati Rice Market - Industry Trends & Forecast Report, 2028

GCC basmati rice market size was estimated at USD 1.94 billion in 2021. During the forecast period between 2022 and 2028, the size of GCC basmati rice market is projected to grow at a CAGR of 5.9% reaching a value of USD 2.92 billion by 2028. One of the main drivers of the market's expansion is the lack of rice production in the GCC due to unfavorable climatic conditions, which is combined with the rising demand for rice of higher quality. Additionally, as wheat and basmati rice are both considered staple foods in the GCC nations, the import of basmati rice from India and Pakistan is increasing at a high rate. Furthermore, the region's overall sales of basmati rice are being driven by a high presence of South Asian expatriates in GCC countries. In addition, the rising prevalence of lifestyle diseases brought on by a lack of physical activity is making people more aware of their health. The consumption of brown basmati rice, which has a low-fat content and a high nutritional value, has significantly increased. Additionally, government organizations working in various GCC countries are promoting foreign investments in the import of rice, which is expected to drive the expansion of basmati rice market in the GCC region.

GCC Basmati Rice Market – Overview

Basmati rice is a long-grain aromatic rice that has been grown for centuries in the Himalayan foothills of the Indian subcontinent. It has long, slender grains that elongate at least twice their original length. When cooked, it has a soft and fluffy texture as well as a nutty flavor. It contains a high concentration of fiber, minerals, vitamins, zinc, copper, proteins, calcium, potassium, magnesium, carbohydrates, amino acids, and folic acid. It now plays an important role in the Middle Eastern cuisine, where it is used to make a variety of lavish rice-based dishes with layers of rice, meat, sauces, and dried fruits.

GCC Basmati Rice Market

Growth Drivers

Growing demand for better quality rice

Basmati is one of the best varieties of rice in the world, which is renowned for its smooth, slender, tapering grains and distinct flavor and aroma when cooked. 85% of the market for basmati exports is made up of the premium variety from India. In 2021, Saudi Arabia (USD 95 billion) and the UAE (USD 20 billion) were the two countries that imported the most basmati rice. The demand for basmati rice continues to rise among its consumers. The rise in consumer disposable income and awareness of the importance of living a healthy lifestyle is viewed as key drivers of the basmati rice market's growth. Furthermore, the increasing demand for long-grain rice is expected to spur the demand for basmati rice during the forecast period. Significant changes in food consumption patterns, as well as an increase in the trend of eating out, are expected to drive the growth of GCC basmati rice market.

Impact of COVID-19 on GCC Basmati Rice Market

The COVID-19 pandemic drastically altered the demand and consumption patterns of many businesses across industries. Due to the extensive supply and production bottlenecks that developed because of restrictions on economic activities, the pandemic saw the food industries scrambling to find new production strategies and consumer propositions. Additionally, retail chains suffered from a lack of variety on their shelves, which significantly changed the dynamics of the basmati rice market. Due to restrictions on human movement in 2020, many companies had to change their consumer targeting strategies to keep customers interested in making online purchases. In comparison to other industries, the COVID-19 pandemic's lockdowns had little effect on the rice industry. The global market is expanding due to the rising demand for cereal grains. After the COVID pandemic, the demand for packaged and fast food has increased, which will benefit market players. Consequently, a healthy market growth rate is expected for GCC basmati rice market in the coming years.

GCC Basmati Rice Market – By Form

By form, GCC basmati market is categorized into Raw and Parboiled segments. Because of its superior quality, fragrance, and taste, raw basmati rice is in much higher demand than parboiled and steamed basmati rice. The raw basmati rice segment is expected to remain at the top for the foreseeable future. Basmati rice is classified into two types based on its species: white and brown. Most people prefer white basmati rice. However, due to increased awareness of its health benefits, brown basmati rice is expected to grow rapidly in the coming years.

GCC Basmati Rice Market- By Price Range

By price range, GCC basmati market is split into Standard and Premium segments.

GCC Basmati Rice Market- By Sales Channel

By sales channel, GCC basmati rice market is segmented into Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, and Others. The supermarkets/hypermarkets segment held the highest market share in the GCC basmati rice market by sales channel. Consumers prefer to buy consumer goods, groceries, and food products, such as grains offline, where they can physically inspect the product quality. Furthermore, store accessibility and searchability for various grains could drive the segment growth. Because of improved distribution networks and the availability of variety of basmati rice in a single store, the supermarkets/hypermarket channel segment is expected to maintain its dominance during the forecast period.

GCC Basmati Rice Market - By Country

GCC basmati rice market covers major countries in the region: Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain. Saudi Arabia hold the highest market share. This can be attributed to the kingdom's large consumer base in comparison to the other countries in the region. Saudi Arabia is followed by the UAE, Kuwait, Qatar, Oman, and Bahrain.

 Competitive Landscape

GCC basmati rice market is fiercely competitive. Prominent players in the market include Nur Jahan, India Gate, Daawat, Tilda, Mumtaz, Goodness Foods, Kohinoor, Fortune, Albadia, and Dunar. These market leaders use key strategies, such as new product and service launches, mergers and acquisitions, partnerships, collaborations, and joint ventures. To further grow their market share, these companies are also focusing on investing in innovations and expansions.

Recent Developments

• In November 2022 – SALIC (Saudi Agricultural and Livestock Investment Company) a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, formed a strategic partnership with LT Foods, an India-based global leading player in the specialty rice and rice food products. LT Foods supplies and distributes basmati rice under its well-known Daawat brand. As a part of the partnership agreement, SALIC purchased a 9.22% stake LT Foods for INR 390 crore.

Scope of the Report

By Form

• Raw

• Parboiled

By Price

• Standard

• Premium

By Sales Channel

• Supermarkets/Hypermarkets

• Departmental Stores

• Specialty Stores

• Others

By Country

• • Saudi Arabia

  • UAE

  • Qatar

  • Kuwait

  • Oman

  • Bahrain

1. Research Framework
   1. Research Objective
   2. Market Overview
   3. Market Segmentation
2. Executive Summary
3. GCC Basmati Rice Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing Demand for Better Quality Rice
         2. Rising Demand from Expatriates from South Asian Countries
      2. Restraints
      3. Opportunities
         1. Encouraging Abroad Investments for the Import of Rice
      4. Challenges
         1. Lack of Awareness
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. GCC Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
         1. Raw
         2. Parboiled
      2. By Price
         1. Standard
         2. Premium
      3. By Sales Channel
         1. Supermarkets/Hypermarkets
         2. Departmental Stores
         3. Specialty Stores
         4. Others
      4. By Countries
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Kuwait
         5. Oman
         6. Bahrain
5. Saudi Arabia Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
      2. By Price
      3. By Sales Channel
6. UAE Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
      2. By Price
      3. By Sales Channel
7. Qatar Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
      2. By Price
      3. By Sales Channel
8. Kuwait Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
      2. By Price
      3. By Sales Channel
9. Oman Basmati Rice Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Form
      2. By Price
      3. By Sales Channel
10. Bahrain Basmati Rice Market Overview
    1. Market Size & Forecast, by Value, 2018–2028
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Form
       2. By Price
       3. By Sales Channel
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. GCC Basmati Rice Company Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, and others)
12. Impact of Covid–19 on GCC Basmati Rice Market
13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Nur Jahan
    2. India Gate
    3. Daawat
    4. Tilda
    5. Mumtaz
    6. Goodness Foods
    7. Kohinoor
    8. Fortune
    9. Albadia
    10. Dunar
    11. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

*Financial information in case of non–listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.

List Of Figures

Figure 1        GCC Basmati Rice Market Segmentation

Figure 2        GCC Basmati Rice Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        GCC Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 5        GCC Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 6        GCC Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 7        GCC Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 8        GCC Basmati Rice Market Share, By Country, By Value, 2018–2028

Figure 9        Saudi Arabia Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 10       Saudi Arabia Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 11       Saudi Arabia Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 12       Saudi Arabia Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 13       UAE Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 14       UAE Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 15       UAE Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 16       UAE Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 17       Qatar Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 18       Qatar Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 19       Qatar Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 20       Qatar Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 21       Kuwait Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 22       Kuwait Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 23       Kuwait Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 24       Kuwait Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 25       Oman Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 26       Oman Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 27       Oman Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 28       Oman Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

Figure 29       Bahrain Basmati Rice Market Size, By Value (USD Billion), 2018–2028

Figure 30       Bahrain Basmati Rice Market Share, By Form, By Value, 2018–2028

Figure 31       Bahrain Oman Basmati Rice Market Share, By Price, By Value, 2018–2028

Figure 32       Bahrain Basmati Rice Market Share, By Sales Channel, By Value, 2018–2028

List Of Tables

Table 1         GCC Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 2         GCC Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 3         GCC Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 4         GCC Basmati Rice Market Size, By Country, By Value, 2018–2028

Table 5         Saudi Arabia Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 6         Saudi Arabia Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 7         Saudi Arabia Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 8         UAE Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 9         UAE Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 10        UAE Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 11        Qatar Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 12        Qatar Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 13        Qatar Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 14        Kuwait Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 15        Kuwait Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 16        Kuwait Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 17        Oman Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 18        Oman Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 19        Oman Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 20        Bahrain Basmati Rice Market Size, By Form, By Value, 2018–2028

Table 21        Bahrain Basmati Rice Market Size, By Price, By Value, 2018–2028

Table 22        Bahrain Basmati Rice Market Size, By Sales Channel, By Value, 2018–2028

Table 23        Nur Jahan Company Overview

Table 24        Nur Jahan Financial Overview

Table 25        India Gate Company Overview

Table 26        India Gate Financial Overview

Table 27        Daawat Company Overview

Table 28        Daawat Financial Overview

Table 29        Tilda Company Overview

Table 30        Tilda Financial Overview

Table 31        Mumtaz Company Overview

Table 32        Mumtaz Financial Overview

Table 33        Goodness Foods Company Overview

Table 34        Goodness Foods Financial Overview

Table 35        Kohinoor Company Overview

Table 36        Kohinoor Financial Overview

Table 37        Fortune Company Overview

Table 38        Fortune Financial Overview

Table 39        Albadia Company Overview

Table 40        Albadia Financial Overview

Table 41        Dunar Company Overview

Table 42        Dunar Financial Overview