Wild rice According to a report by Future Market Insights, the global wild rice market is expected to expand at a compound annual growth rate (CAGR) of 3.4% during the forecast period. Forecasts indicate that the market will be valued US$ 697.5 million in 2032 as opposed to US$ 499.2 million in 2022.
Wild rice is a member of the grass family and not rice. It is a long black grain, traditionally grown in the area such as isolated river bed and lake locations. It is indigenous to China and North America, with a nutty texture that retains its long shape even after cooking. It is frequently used to meals, including salads, and blended with other kinds of rice to make new combinations. The northern wild rice, wild rice, Texas wild rice, and Manchurian wild rice are among the species that make up the genus Zizania; the first three are indigenous to North America, while the last is native to China.
Due to rising health consciousness among consumers, wild rice is preferred by most as a substitute for rice since it is low in fat and high in dietary fibre, protein, and the amino acid lysine.
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Global Wild Rice Market Dynamics:
The growth of the global wild rice market is driven by growing demand for low-fat containing food and increasing health consciousness among consumers. The properties of wild rice including low in fat and high in dietary fiber, the amino acid lysine, and protein fueling the global wild rice market. Macroeconomic factors such as growing economy, changing lifestyle, increasing per capita income, and rapid rate of urbanization driving the global wild rice market.
However, the high cost of wild rice and black rice as its substitute are expected to restrain the demand for global wild rice market. Some of the factors trending the global wild rice market include mergers & acquisitions between wild rice market players and its suppliers and high investment in the food industry. Companies operate in the wild rice market can increase its share through collaboration with wild rice suppliers, backward integration, and by offering organic products in the market.
Global Wild Rice Market Segmentation:
The global wild rice market is segmented on the basis of product type, packaging type, distribution channel, end-user, and region. Based on product type global wild rice market is segmented as ready-to-eat and grains. Among which ready-to-eat segment is expected to expand at a relatively high CAGR in global wild rice market. On the basis of packaging, the global wild rice market is segmented as cartons, pouches, boxes, glass and plastic jars, wherein pouches segment is expected to expand at a relatively high growth rate over the forecast period.
Based on distribution channel, the global wild rice market segmented as wholesale and retail. Among which wholesale segment is expected to account for relatively high revenue share, attributed to rapidly growing food service industry, whereas retail segment is expected to expand at relatively high value as well as volume share in global wild rice market. The retail segment is again fragmented into convenient stores, hypermarkets/supermarket, e-Commerce, and individual stores.
Among which, hypermarkets/supermarket, the segment is expected to contribute for major revenue share whereas, e-Commerce segment is expected to expand at a significant CAGR in the global wild rice market, attributed to increasing adoption of e-Commerce across the globe. On the basis of end-user, the global wild rice market is segmented as consumers, food services, and food manufacturers, wherein food services segment has significant revenue share, whereas, consumers segment is expected to register significant CAGR, over the forecast period.
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Global Wild Rice Market Regional Outlook:
Based on the geographies, the global wild rice market is split into seven regions including North America, Western Europe, Eastern Europe, Japan, Asia-Pacific except Japan, Latin America, and the Middle East & Africa. Among the regions, North America is expected to dominate the global wild rice market with relatively high growth rate, owing to high demand for wild rice across the regions. Europe is followed by North America and is expected to expand at a significant growth rate in wild rice market, owing to high health awareness among consumers across the region. Asia-Pacific is expected to expand at significant growth rate, attributed to rapid rate of urbanization, rapidly growing population, and changing lifestyle of consumers across the region. The wild rice market in Asia-Pacific is also driven by high demand for wild rice in China, as wild rice is native to China.
Global Wild Rice Market Player:
Few players in the global wild rice market include Moose Lake Wild Rice, SunWest Foods Inc., Amira Nature Foods Ltd., Lundberg, Nature’s Gourmet Foods, Inc., InHarvest, Inc., Lake of the Woods Wild Rice CO., Gibbs Wild Rice CO., Erickson Processing Inc., Coilws Com Inc., and Agassiz Wild Rice LLC.
Global Wild rice market segmentation by category
By Product Type:
- Ready-to-eat
- Grains
By Packaging Type:
- Pouches
- Glass and Plastic jars
- Boxes
- Carton
By End-User:
- Consumers
- Food manufacturers
- Food services
By Distribution Channel:
- Supermarkets
- Convenient stores
- Individual shops
- E-commerce
By Region:
- North America
- Latin America
- Asia Pacific
- Eastern Europe
- Western Europe
- Japan
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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