The global rice processing machine market is valued at US$ 1176.43 million as on 2023. The market is expected to grow at a CAGR of 2.3% during the forecast period, and by 2033, the market is projected to reach a valuation of US$ 1476.81 million.
One of the key elements that may boost demand for rice processing equipment during the forecast period is the expanding rice market. According to research done in 2020, the world’s rice market is estimated to be worth US$ 300 billion, which illustrates the future prospects for the rice processing machine.
The rice machine is also credited with raising rice’s market value. Due to the development of an antioxidant layer on top of the rice after processing, the rice’s shelf life extends.
Apart from that, the multifunctionality offered by the rice processing machine has attracted a lot of attention of the potential investors. The ability to preclean, soak, steam, and cast the rice ensures the fact that the manufacturers don not have to spend amount on different equipment, which ultimately helps in cost cutting.
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Furthermore, the parboiled rice which is obtained from the rice processing plant is known for its high nutritional value. Apart from that, the rice obtained from the industrial rice milling machine also helps in fast digestion, high yield of rice, and quick cooking. All these factors might well increase the sales of rice processing machine during the forecast period.
Thus, from the insights provided by FMI researchers, it can be inferred that “a surging rice market, coupled with the ability to enhance the commercial value of rice and plenty of other factors are expected to surge the growth of rice processing machine market during the forecast period.”
Key Takeaways:
- The rice processing machine market is valued at US$ 1176.43 million as on 2023.
- By 2033, the market is expected to reach a valuation of US$ 1476.81 million.
- The market is expected to grow at a CAGR of 2.3% during the period 2023-2033.
- The US rice processing machine market is valued at US$ 341.17 million as on 2023, and is expected to grow at a CAGR of 3.9% during the forecast period.
- The UK market is valued at US$ 64.70 million as on 2023, and is forecasted to grow at a CAGR of 5.1% during the forecast period.
- The China rice processing machine market is expected to be valued at US$ 275.72 million by 2033, and is expected to grow at a CAGR of 9% during the forecast period.
- The Japan market holds a valuation of US$ 76.47 million as on 2023, and is projected to expand at a sturdy CAGR of 9.5% through 2033.
- The South Korea rice processing machine market is expected to grow at a CAGR of 10.6% through 2033, and by 2033, the market is expected to be valued at US$ 48.33 million.
- Based on the product type, the horizontal roller segment holds the highest market share, and is anticipated to grow at a CAGR of 2.9% during the forecast period.
- Based on the application, the pre-cleaning machinery segment holds the highest market share, and is anticipated to grow at a CAGR of 3.3% during the forecast period.
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Competitive Landscape
The key players operating in the rice processing machine market are investing in the technological aspects, which would mainly focus on reducing the size of the machine, and also increase the efficiency of the machine. Apart from that, the idea is also towards attaining the criteria of sustainable development, and contributing towards a robust future.
In September 2022, Dr. Zeno Staub was unanimously elected to the Board of Directors of the Buhler AG group.
Key Companies Profiled
- Buhler AG,
- Fowler Westrup,
- AG Growth International Inc.,
- MillTECH Machinery Private Ltd,
- Yamanoto,
- Zhejiang QiLi Machinery Co. Ltd,
- Satake Corporation,
- Mill Master Machinery Pvt. Ltd,
- G S International,
- G.G. Dandekar Machine Work,
- Hubei Bishan Machinery Co. Ltd
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