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The India Rice Milling Market is estimated to witness a rise in its revenue from US$ 64.5 Mn in 2021 to US$ 77.7 Mn by 2027. The market is registering a CAGR of 3.1% over the forecast period 2022-2027. Rice milling is a significant step in post-production of rice. The basic objective of a rice milling system is to clean impurities, remove the husk and bran the layers to produce white rice, which is edible, and good for consumption. Most rice varieties have approximately 20% rice hull, 11% bran layers, and 69% starchy endosperm, or total milled rice. India is the world's second-largest producer of rice, and the largest exporter of rice in the world. Production increased from 53.6 Mn tons in 1980 to 120 Mn tons in 2021. Rice mills are one of the ancient and largest agro-processing industries in India.
The growing impetus of the market is attributed to increased investment in technology upgradation & modernization of rice mills in India and government supportive policies & schemes. In order to enhance the production & productivity of rice in the country, government has been promoting modified methods of paddy cultivation such as System of Rice Intensification (SRI), Direct Seeded Rice (DSR) and Line Transplanting under various crop development programs such as National Food Security Mission (NFSM), Bringing Green Revolution to Eastern India (BGREI) and Rastriya Krishi Vikas Yojana (RKVY). Further, the government is promoting rice production through a combination of support prices, assured procurement, and subsidies on key inputs like irrigation, chemical fertilizers, and electricity. Moreover, the government has increased its technology and investment in modern rice processing. In 1976, an amendment to the Rice Mill Industry Regulation Provision implemented modernization of the single-huller mills by including centrifugal de-huskers, separators, and paddy cleaners. Generally, most of the rice mills in India are traditional, huller-type process units. However, small modern rice mills are gradually developing their efficiency and cost-effectiveness. In addition, companies such as Buhler India have been investing large amount of money to bring improved technology to the Indian rice milling sector. Technological advancement and modernization of rice mills helps in reducing the time of downstream processing and thus fulfills the rice demand for consumption as well as export. In addition, a rising population is also expected to propel the market growth. However, the huge initial investment is projected to hinder market growth over the forecast period.
Key Insights of the Report:
Key Takeaways from the India Rice Milling Market Report:
The key players in the India Rice Milling Market are Bühler India, G.G. Dandekar Machine Works Ltd., Satake Corporation, Savco Sales Pvt Ltd., G.S International, Mill Master Machinery Pvt Ltd., Patker Engineers, and Fowler Westrup among others. Through extensive research, it is found that major share of India is capture by only a few players, while the remaining major chunk of market share is fragmented and distributed amongst small and local players in different states and cities of India. For instance, Rewa Rice Mill and Raj Industries in Madhya Pradesh, KRBL Limited Rice Mill in Uttar Pradesh and Pawapuri Rice Mills in Bihar among others.
The following are the various segments of the India Rice Milling Market:
To enhance the production & productivity of rice in the country, government has been promoting modified methods of paddy under various crop development programs such as National Food Security Mission (NFSM), Bringing Green Revolution to Eastern India (BGREI) and Rastriya Krishi Vikas Yojana (RKVY).
The India Rice Milling Market was valued at US$ 64.5 Mn in 2021.
The India Rice Milling Market is estimated to expand at a CAGR of 3.1% over the projection period.
The different segmentations considered to analyze the market are based on component and type.
The market is majorly driven by factors such as increased investment in technology upgradation & modernization of rice mills in India and government supportive policies & schemes.
The huge initial investment is projected to hinder market growth over the forecast period.
Rice whitening machinery type dominates the market in 2021.
1 to 10 tons type holds the highest market share in 2021.
Due to high demand of premium quality rice in India, length grader machinery is registering the highest growth rate over the forecast period.
The key players in the India Rice Milling Market are Bühler India, G.G. Dandekar Machine Works Ltd., Satake Corporation, Savco Sales Pvt Ltd., G.S International, and Fowler Westrup among others.