The international Wild rice market is anticipated to grow at a CAGR of 3.4% over the course of the estimated period, according to a report by Future Market Insights. The market is expected to be worth USD 697.5 Million in 2032 as opposed to USD 499.2 Million in 2022, according to forecasts.
| Attributes | Details |
|---|---|
| The market size value in 2022 | USD 499.2 Million |
| Market forecast value in 2032 | USD 697.5 Million |
| Forecast period | 2022 to 2032 |
| Global growth rate (CAGR) | 3.4% |
| The growth rate of Australia in Wild rice market | 2.5% |
The grass family, not the rice family, is the home of wild rice. It is a long, black grain that has historically been grown nearby, particularly in remote riverbeds and lakes. It is indigenous to China and North America and has a nutty texture. After boiling, it maintains its long shape. It is frequently used as an additional ingredient in dishes like salads and blended with other varieties of rice.
The four species of the genus Zizania are Manchurian wild rice, northern wild rice, Texas wild rice, and wild rice. The first three are native to North America, and the fourth is native to China. Due to the increasing level of health consciousness among consumers, wild rice is favored by the majority of customers as an alternative to rice since it is low fat and high fiber, the amino acid lysine, and protein.
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According to Future Market Insights, the global market for wild rice will grow at a CAGR of 4.4% to reach USD 478.2 million in 2021 from USD 402.5 million in 2017.
The global market for wild rice is expanding as a result of rising consumer demand for low-fat foods and rising health consciousness. The low-fat and high dietary fiber, lysine-rich amino acid, and protein content of wild rice are what is driving the worldwide wild rice industry.
The global market for wild rice is being driven by macroeconomic reasons such a growing economy, changing lifestyles, rising per capita income, and a quickening rate of urbanization. The price of wild rice and black rice, which serves as a substitute, is anticipated to limit worldwide wild rice market demand.
North America is the leading producer of wild rice, owing to the high demand for grain. Wild rice is a nutritious and versatile grain that can be used in a variety of dishes. In North America, wild rice is often harvested from lakes and rivers. The grain is then milled and sold to consumers.
Wild rice is a popular grain due to its nutritional value. Wild rice is high in protein, fiber, and vitamins A and C. Additionally, wild rice contains minerals such as potassium, phosphorus, and magnesium. Wild rice is also a good source of antioxidants.
The popularity of wild rice has led to an increase in production in recent years. In North America, the majority of wild rice is grown in Minnesota and Wisconsin. These states have the ideal climate for growing wild rice. The cool temperatures and ample rainfall help to produce high-quality grain.
Europe is the world’s largest market for wild rice, with demand driven by both culinary and health trends. Wild rice is a nutritious grain that is high in protein, fiber, and antioxidants, making it a popular choice for health-conscious consumers. In addition, wild rice has a nutty flavor and chewy texture that makes it a popular ingredient in gourmet dishes.
Wild rice is grown in Minnesota, California, and Canada, with Minnesota being the largest producer. European consumers are willing to pay premium prices for wild rice, making it an attractive market for growers. In order to meet demand, farmers are constantly innovating their growing methods to produce higher yields.
The future looks bright for wild rice farmers as Europe’s appetite for this healthy grain shows no signs of slowing down.
Asia Pacific is the world’s most populous continent, and it is also home to some of the fastest-growing economies. This combination of factors makes the region an attractive market for wild rice.
There are several reasons why Asia Pacific is emerging as an opportunistic wild rice market. First, the region’s population is growing quickly, and there is a rising demand for food. Second, many countries in the region are experiencing economic growth, which means that more people have disposable income to spend on food. Finally, Asia Pacific is home to a number of cuisines that feature rice as a key ingredient, making it a natural fit for wild rice.
The Asia Pacific region presents a significant opportunity for companies that produce wild rice. In order to capitalize on this opportunity, companies will need to understand the needs and preferences of consumers in the region.
Principal Consultant
The wild rice market is growing rapidly, and the food services industry is playing a big role in supporting this growth. In the past few years, there has been a significant increase in the number of restaurants and catering companies offering wild rice dishes. This is due to the growing popularity of wild rice among consumers.
Wild rice is a healthy and nutritious alternative to other types of rice. It is high in protein and fiber, and low in calories. This makes it an ideal choice for people who are looking to lose weight or improve their overall health. Additionally, wild rice is a versatile ingredient that can be used in a variety of different dishes.
The food services industry has been quick to embrace the growing popularity of wild rice. More and more restaurants are offering wild rice dishes on their menus, and catering companies are including it in their event menus.
Sales of wild rice are expected to increase significantly in the next year. By distribution channel, retail grocery stores will experience the maximum wild rice sales. This is due to the growing popularity of healthy and organic foods. Consumers are becoming more aware of the health benefits of wild rice and are willing to pay a premium price for it.
In terms of product category, frozen wild rice is expected to see the highest sales growth. This is because frozen wild rice is convenient and easy to cook. It is also more affordable than other types of wild rice.
Convenience stores, hypermarkets/supermarkets, e-Commerce, and independent stores make up the retail segment once again. Hypermarkets/supermarkets are anticipated to contribute a substantial portion of market revenue, whilst e-Commerce is anticipated to grow at a significant CAGR due to the growing popularity of e-Commerce around the world.
Most companies are focusing on innovation and new product launches in order to meet consumers' growing demand and maintain their leadership positions in the market for Wild rice.
Businesses in the Wild rice market sector are always introducing new types of ingredients in order to meet changing consumer needs and capture the greatest market feasible. Businesses are working on expanding their distribution networks in order to reach new markets.
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The pricing strategies employed by manufacturers of Wild rice who were positioned across geographic boundaries, sales growth, manufacturing capability, and speculative production development were all carefully analyzed by FMI in a recent report.
The entire study takes into account recent alterations that the FMI team has been studying that have an impact on Wild rice manufacturers.
| Attribute | Details |
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| Forecast period | 2022 to 2032 |
| Historical data available for | 2017 to 2022 |
| Market analysis | USD million in value |
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| Customization and Pricing | Available upon request |
The Wild rice market size is assessed to USD 499.2 Million in 2022.
The Wild rice market is expected to rise at a CAGR of 3.4%.
US, China, Canada, Germany, China, India, U.K., Australia are the major countries driving demand for Wild rice market.
China Wild rice market is projected to grow at a CAGR of around 4.3% over the next ten years.
Market share of Germany in Wild rice market is about 27.2% of the global market.
Moose Lake Wild Rice, Lake of the Woods, Amira Nature Foods Ltd., InHarvest, Inc., Coilws Com Inc. are expected to be the top players driving the market growth.
The global Wild rice market is forecasted to surpass USD 697.5 Million by the end of 2032.
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