Rice Market Growing Demand and Trends 2023 to 2030
Pune, India - (NewMediaWire) - March 3, 2023 - "Rice" Size, Scope, and Forecast 2023-2030 report has been added to the Market Research Archive of Absolute Reports. Industry experts and researchers have offered an authoritative and concise analysis of the Global Rice with respect to various aspects such as growth factors, challenges, restraints, developments, trends, and opportunities for growth. This report will surely be a handy tool for market players to come up with effective strategies with the aim of strengthening their positions in the market.
What is the Rice growth?
Vietnam is rich in rice, tropical crops and aquatic products and is a major exporter of agricultural products in Southeast Asia, and the third largest exporter of rice in the world.
According to Researchers, Vietnam's rice export value reached USD3.07 billion in 2020, and rice has become a bright spot in Vietnam's agricultural products exports. This is a remarkable achievement of the rice industry for many years, especially in the context of natural disasters and COVID-19 epidemic that hit Vietnam's agriculture in 2020 in terms of production and export.
In 2020, Vietnam's total rice production was 42.7 million tons, meeting the demand for domestic consumption, processing, poultry and livestock feed, and export, etc. In 2020, its rice exports grew against the backdrop of a decline in exports of many of Vietnam's long-dominant agricultural products due to the COVID-19 epidemic.
Notably, the bright spot of the country’s rice exports was not in terms of production, but in terms of price. According to Researchers' analysis, in 2020, the average price of Vietnam’s rice exports increased by 13%, compared to the same period in 2019, reaching USD496 per ton.
In early December 2020, the price of Vietnam’s rice with 5% crushing was USD493 to USD497 per ton, which is USD20 higher than that of Thai’s rice and USD120 higher than that of Indian rice. This is the highest price in the history of Vietnam's rice exports, indicating that the brand value of Vietnam’s rice has increased significantly.
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Since the EU-Vietnam Free Trade Agreement (EVFTA) came into force on August 1, 2020, the rice exports have rapidly seen an upturn. According to EVFTA, the EU provides Vietnam with 80,000 tons of rice for export at 0% tax rate annually (including 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of aromatic rice).
For rice from Vietnam, the EU will reduce the import duty rate to zero in the coming years. Taking advantage of the above, from September 2020, Vietnam started to sell rice to the EU at a much higher price than before. Specifically, before EVFTA came into effect, the prices of ST20 rice and Jasmine rice exported to the EU were USD800 and USD520 per ton, respectively, while now the prices are over USD1,000 and USD600, respectively.
According to Researchers, there are three reasons for the rise in Vietnam’s rice prices. Firstly, the government issued an agricultural restructuring proposal, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols, i.e., paying more attention to improving rice quality rather than increasing production. Around 2015, Vietnam's quality rice seeds accounted for only 35%-40% of the total seeds, while in 2020 the Chart reached 75%-80%, and even in some places, the usage rate of quality rice seeds is as high as 90%.
Secondly, Vietnam has signed many FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Europe-Vietnam Free Trade Agreement (EVFTA) with many countries, which creates conditions for a breakthrough in Vietnam's rice exports. Third, many industries were affected by the COVID-19 epidemic in 2020, but the market demand for food has not decreased.
According to Researchers, the Jiulong River Plain is the center of rice cultivation in Vietnam, contributing 50% of rice production and 95% of rice exports to Vietnam's agriculture. In 2020, the Jiulong River Plain cultivated more than 1.5 million hectares of rice per season, with an average yield of 6 tons per hectare and an annual rice production of more than 24 million tons. Furthermore, its winter-spring rice production is expected to reach 10 million tons from 2020 to 2021.
IT expects Vietnam's rice exports to continue to rise in both volume and value in 2022-2030.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 60 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Rice?
Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, in Chapters, we elaborate at full length on the impact of the pandemic and the war on the Rice Industry
Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Rice Industry.
This report provides a pin-point analysis of changing dynamics and emerging trends in the Global Rice. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Global Rice in the coming years. Further, the authors of the report have shed light on the factors that may hinder the growth of the Global Rice.
Rice - Competitive and Segmentation Analysis:
2. How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Top Key Players of the Global Rice
1 Vilaconic Joint Stock Company
2 Vu Phat International Co., Ltd
3 CAM NGUYEN RICE TRADING AND PROCESSING LIMITED COMPANY
4 KHANH TAM COMPANY LIMITED
5 HOA LUA RICE TRADING COMPANY LIMITED
6 SUNRISE INS Company Limited
7 Khue Star Import Export Trading Company Limited
8 Robert & Partners International Limited
9 Hanfimex Group
10 Gia Son Phat Trading and Service Co.
Short Description About Rice:
The Global Rice is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
This report studies the Rice, covering market size for segment by type, by application, by sales channel (Direct Channel, Distribution Channel), and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).
This report provides detailed historical analysis of global market for Rice from 2015-2020, and provides extensive market forecasts from 2023-2030 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Rice.
Moreover, the impact of COVID-19 is also concerned. Since outbreak in December 2019, the COVID-19 virus has spread to all around the world and caused huge losses of lives and economy, and the global manufacturing, tourism and financial markets have been hit hard, while the online market/industry increase. Fortunately, with the development of vaccine and other effort by global governments and organizations, the negative impact of COVID-19 is expected to subside and the global economy is expected to recover.
This research covers COVID-19 impacts on the upstream, midstream and downstream industries. Moreover, this research provides an in-depth market evaluation by highlighting information on various aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. In the end, this report also provides in-depth analysis and professional advices on how to face the post COIVD-19 period.
The research methodology used to estimate and forecast this market begins by capturing the revenues of the key players and their shares in the market. Various secondary sources such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, have been used to identify and collect information useful for this extensive commercial study of the market. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and sub-segments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments.
3. What are your main data sources?
Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2023-2030) of the following regions are covered in Chapter 4 and Chapter 7:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Please find a more complete list of data sources in Chapters
1.To study and analyze the global Rice consumption (value) by key regions/countries, product type and application
2.To understand the structure of Rice by identifying its various sub segments.
3.Focuses on the key global Rice manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years.
4.To analyze the Rice with respect to individual growth trends, future prospects, and their contribution to the total market.
5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
6.To project the consumption of Rice submarkets, with respect to key regions (along with their respective key countries).
7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
8.To strategically profile the key players and comprehensively analyze their growth strategies.
Customization of the Report
4. Can I modify the scope of the report and customize it to suit my requirements?
Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.
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Detailed TOC of Rice Market Insights and Forecast to 2030
1 Overview of Vietnam
1.1 Geographical Situation
1.2 Demographic Structure of Vietnam
1.3 Economy of Vietnam
1.4 Minimum Wage in Vietnam, 2011-2021
1.5 Impact of COVID-19 on the Rice Industry in Vietnam
2 Development Environment of Vietnam's Rice Industry
2.1 Brief History of Vietnam's Rice Industry
2.2 Types of Vietnam's Rice industry
2.3 Policy Environment of Vietnam's Rice Industry
3 Supply and Demand Situation of Vietnam’s Rice Industry
3.1 Supply Situation
3.2 Demand Situation
4 Import and Export Situation of Vietnam’s Rice Industry
4.1 Import Situation
4.1.1 Import Volume and Import Value
4.1.2 Main Import Sources
4.2 Export Situation
4.2.1 Export Volume and Value
4.2.2 Main Export Destinations
5 Market Competition in Vietnam's Rice Industry
5.1 Barriers to Entry in Vietnam’s Rice Industry
5.1.1 Brand barrier
5.1.2 Quality Barrier
5.1.3 Capital Barrier
5.2 Competitive Structure of Vietnam’s Rice Industry
5.2.1 Bargaining Power of Rice Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in Vietnam’s Rice Industry
5.2.4 Potential Entrants in the Rice Industry
5.2.5 Substitutes for Rice
6 Analysis of Major Rice Brand Companies in Vietnam
6.1 Vilaconic Joint Stock Company
6.1.1 Development History of Vilaconic Joint Stock Company
6.1.2 Main Products of Vilaconic Joint Stock Company
6.1.3 Operating Model of Vilaconic Joint Stock Company
6.2 Vu Phat International Co., Ltd
6.2.1 Development History of Vu Phat International Co., Ltd
6.2.2 Main Products of Vu Phat International Co., Ltd
6.2.3 Operating Model of Vu Phat International Co., Ltd
6.3 CAM NGUYEN RICE TRADING AND PROCESSING LIMITED COMPANY
6.3.1 Development of History of CAM NGUYEN RICE TRADING AND PROCESSING LIMITED COMPANY
6.3.2 Main Products of CAM NGUYEN RICE TRADING AND PROCESSING LIMITED COMPANY
6.3.3 Operating Model of CAM NGUYEN RICE TRADING AND PROCESSING LIMITED COMPANY
6.4 KHANH TAM COMPANY LIMITED
6.4.1 Development History of KHANH TAM COMPANY LIMITED
6.4.2 Main Products of KHANH TAM COMPANY LIMITED
6.4.3 Operating Model of KHANH TAM COMPANY LIMITED
6.5 HOA LUA RICE TRADING COMPANY LIMITED
6.5.1 Development History of HOA LUA RICE TRADING COMPANY LIMITED
6.5.2 Major Products of HOA LUA RICE TRADING COMPANY LIMITED
6.5.3 Operating Model of HOA LUA RICE TRADING COMPANY LIMITED
6.6 SUNRISE INS Company Limited
6.7 Khue Star Import Export Trading Company Limited
6.8 Robert & Partners International Limited
6.9 Hanfimex Group
6.10 Gia Son Phat Trading and Service Co.
7 Outlook on Vietnam’s Rice Industry, 2021-2030
7.1 Analysis of Vietnam’s Rice Industry Development Factors
7.1.1 Drivers and Development Opportunities for Vietnam’s Rice Industry
7.1.2 Threats and Challenges Facing Vietnam’s Rice Industry
7.2 Forecast on Vietnam’s Rice Supply
7.3 Forecast on Vietnam’s Rice Market Demand
7.4 Forecast on Import and Export of Vietnam’s Rice Industry
Chart Total Population of Vietnam 2006-2021
Chart Vietnam’s GDP Per Capita 2011-2021
Chart Vietnam Government Policies Related to Rice Industry, 2008-2021
Chart Vietnam’s Rice Production, 2016-2021
Chart Domestic Consumption of Rice in Vietnam, 2018-2021
Chart Vietnam’s Rice Import Volume 2018-2021
Chart Vietnam’s Rice Import Value 2018-2021
Chart Vietnam’s Rice Import Sources and Import Value, 2018-2021
Chart Vietnam’s Rice Export Volume, 2018-2021
Chart Vietnam’s Rice Export Value, 2018-2021
Chart Vietnam’s Rice Export Destinations and Export Value, 2018-2021
Chart Forecast on Vietnam’s Rice Production, 2022-2030
Chart Forecast on Vietnam’s Domestic Rice Market Size 2022-2030
Chart Forecast on Vietnam’s Rice Import, 2022-2030
Chart Forecast on Vietnam’s Rice Export, 2022-2030
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