rice processing market
The India rice processing market is expected to value an estimated USD 392.6 million by the end of 2022 and witness a steady CAGR of 3.51% during the forecast period of 2016 - 2022. The high production of rice in this region and increasing demand for good quality rice are some key drivers for the growth of the rice processing market in India.
India being one of the worlds largest producers of rice, possesses a significant rice processing market. A global and local increase in population has led to a higher production of rice in the country to meet both domestic and export demands. The regions favorable climate for growing rice crops, supportive government policies regarding agriculture and the importance of rice as a staple in the Indian diet are some other factors that promote the consistent upward growth of the market.
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Although traditional methods are still prevalent in India, including for rice harvesting, rice millers are increasingly investing in modern, high-quality rice milling equipment to increase yield and quality of the final product. In addition to favorable policies, the government also offers various facilities and subsidies to promote modern agricultural activities. Foreign investors have recognized India's position as a global rice producer and have accordingly set up rice milling machinery manufacturing units to meet the demand and leverage cheap labor costs available in the region.
Improper storage and lack of appropriate warehouse facilities along with unpredictable crop failure are some of the challenges faced by this market. However, ongoing development in agriculture is expected to offer solutions and opportunities for expansion of he market in the coming years
Market Segmentation
The Indian rice processing market has been segmented into equipment, capacity, and region. By equipment, the market has been segmented into rice whitening machinery, pre-cleaner machinery, paddy separator machinery, length grader machinery, and others.
By capacity, the market has been segmented into 1 to 10 ton, 10 to 20 ton, and more than 20 ton.
By region, India has been segmented into north, south, west, and east.
Regional Analysis
East India accounts for the largest share of the rice processing market. This is primarily due to the fact that rice has traditionally been grown in this region which naturally has high rainfall and the area is conducive to the growth of rice. This has prompted a high number of planned investments in rice milling, this facilitating growth for the market. The East India regional segment is poised to grow at a consistent CAGR of 3.97% during the forecast period.
Meanwhile, the North India regional market segment is expected to grow moderately due to the increased assistance from the government in the form of various initiatives and supportive policies.
Key Players
Prominent market players who are operating the Indian rice processing market include Patker Engineers, Satake Corporation, Buhler Group, Mill Master Machinery Pvt Ltd., G.G. Dandekar Machine Works Ltd., Perfect Equipments, Savco Sales Pvt Ltd., Fowler Westrup, and G.S International.
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