Global Black Rice Market is Likely to Grow a CAGR of 5.42% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Black Rice Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Black Rice Market generated revenue of around USD 158.20 million in 2021 and is anticipated to grow a CAGR of over 5.42% during the forecast period from 2021 to 2028 to reach around USD 233.38 million in 2028. While, cumulative growth opportunity presented by the global Black Rice is around USD 1.56 billion during 2022 to 2028.

Global Black Rice Market, 2021 – 2028 (USD Million)

Browse the full report at  Black Rice Market Size, Trends, Share and Growth Report | Forecast to 2028 (credenceresearch.com)

Driven in part by the rapidly increasing size of the world’s human population, the black rice market is set to increase at a fast pace. Black rice is a particularly good source of nutrients and is inexpensive. Owing to these factors, the black rice market will expand rapidly over the next decade. Black rice represents a cost-effective solution to feed impoverished people residing in developing countries. The black-purple color of this crop is due to a powerful antioxidant called anthocyanin. This substance is also responsible for a wide variety of health benefits. Anthocyanin will prove to be an effective tool for marketing black rice, thereby increasing its demand in the near future.

Increasing Demand for Black Rice as a Source of Iron and Nutrition

Black rice is native to North East India. However, its being popular in North East India, Thailand, Philippines, China, Myanmar and other South and East Asian countries. In the forementioned countries, black rice is considered as major and cost effective source of nutrition and iron.

Growing Health Awareness

Consumers are increasingly becoming aware of medicinal properties and health benefits associated with the consumption of black rice. Black rice contain significant volume of iron and hence helps to  overcome iron deficiency. Moreover, it also contain many of the antioxidants as well. This in turn results into improved health of black rice consumers.

Philippine Heirloom Balatinaw Black Rice to Dominate

Philippine heirloom balatinaw black rice, Pirurut ong black glutinous rice and Thai jasmine black rice are major types of black rice are major types of black rice. Although, black rice is native to North East India, its widely being cultivated in South East Asian countries. Philippine heirloom balatinaw black rice is leading types of black rice with over 25% share in total volume consumption.

Grocery Stores Held the Largest Share

Key distribution channels used in global black rice industry include; Grocery stores, Convenience stores, Mass merchandisers, Farm and fleet and Others (club retailers, close-out operators, e-commerce). Grocery stores accounted for the largest share in 2021. However, convenience stores and online channels are poised to exhibit rapid growth over the forecast period.

Household Consumers to Keep Their Dominance

Household Consumers, Food and Beverages Industry and Pharmaceutical Industry are leading end-users of black rice. Household consumers use black rice for food preparation at home. While, pharma and F&B industry used black rice concentrates and isolates.

Natureland Organics, FOR8 Aromatic, Woodland Foods, Naturally Yours, Epicurious and Love and Lemons are some of the most prominent brands in Black Rice Industry are key brands of black rice. Key players are focusing on improvement of their brand value and export to Europe and North America.

 

 

Market Segmentation

Global Black Rice Market by Type, 2016 – 2028

  • Philippine heirloom balatinaw black rice
  • Pirurut ong black glutinous rice
  • Thai jasmine black rice

Global Black Rice Market by Form, 2016 – 2028

  • Grocery stores
  • Convenience stores
  • Mass merchandisers
  • Farm and fleet
  • Others (club retailers, close-out operators, e-commerce)

Global Black Rice Market by Application, 2016 – 2028

  • Household Consumers
  • Food and Beverages Industry
  • Pharmaceutical Industry

Global Black Rice Market by Company, 2021

  • Natureland Organics
  • FOR8 Aromatic
  • Woodland Foods
  • Naturally Yours
  • Epicurious and
  • Love and Lemons
  • Others