FMI’s Survey Uncovers How the Rise of Worldwide Rice Consumption Is Driving Demand for Rice Mill Machines | Future Market Insights, Inc.
From 2023 to 2033, the global rice mill machine market is expected to grow at a slow and steady CAGR of 4.0%. The market valuation is projected to increase from US$ 192.1 million in 2023 to US$ 284.4 million by 2033.
According to Future Market Insights (FMI), the market is poised to be driven by the increasing demand for rice and the growing need for efficient production. Rice mill machines are used to process raw rice into white rice. They are also used to remove chaff, husk, and bran from the rice for ensuring removal of impurities.
There are mainly two different types of rice mill machines - grind and fraction-type or pressure-type. Grind machines, as their name suggests, are used to grind rice. They are known for their high-speed operation, and they are ideal in settings where high output and low rice breakage are requirements. Fraction-type or pressure machines are dependent on their iron rollers, which generate the friction needed to get white rice by milling brown rice.
Estimates suggest that rice consumption accounts for over 16% of the world’s calorie intake. Also, 3.5 billion of the world’s population are estimated to consume rice as a staple food. The number is poised to rise by around 25% by 2050. Also, 20% of the global population earns a living through rice production.
Consumption patterns are gradually altering in several countries. For instance, in Japan, Vietnam, and Indonesia, rice is an integral part of the traditional staple diet. However, younger generations across these countries are turning to other diets based on individual preferences driven by growing exposure to international cuisines. This is likely to reduce rice consumption in these countries in the coming years. However, in African countries, greater accessibility and affordability of rice are contributing to increasing rice consumption. Projections indicate that consumption of milled rice in Africa is set to reach a whopping 34.9 million tons by 2025.
In recent years, accelerating climate change has had adverse effects on rice production as harsh temperatures, floods, and draughts have wreaked havoc on crops during growing seasons. Rice production has also come under the scrutiny of climate change activists, as the activity is known for its high water consumption and CO2 emissions.
From 2023 to 2033, FMI expects rice production to increase to meet growing demand. This is likely to generate more rice mill machine sales. Additionally, FMI predicts the adoption of efficient rice mill machines to lower the carbon footprint of the rice production sector.
The United States Rice Mill Machine Market
Demand for Rice Mill Machines to Decrease in the United States Due to Growing Focus on Exports
Rice milling machine sales are expected to be adversely affected in the United States In recent years, the country’s rice production has declined and this trend looks set to continue as the United States government looks to increase rise imports for meeting its consumption demands. This is resulting in decreasing demand for rice milling machines in the country.
In the coming years, FMI expects husk-removing rice mill machines to generate more sales in the United States market compared to machines that do not remove husk. Husk-removing rice mill machines have become popular in the United States owing to their ability of producing clean rice with almost no impurities.
Zhengzhou Taizy Machinery Co., Ltd, Taizy, FlourTech Engineers Pvt Ltd, Rising Industries, Mill Master Machinery Private Limited, Satake, Alvan Blanch Development Company, and Savco Sales are among the key players in the global rice mill market right now. Between 2023 and 2033, these players are predicted to increase investments in research and development for technological advancements. Additionally, they are anticipated to increase their global presence by opening branches in emerging markets.
For instance, In August 2022, Satake announced the opening of a new office in Manama, Bahrain, for accelerating the company’s sales growth.
These insights are based on a report on Rice mill machine market by Future Market Insights