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 native to North America and China having a nutty texture and holds its long shape after cooking. It is commonly used as an added constituent to recipes such as salads as well as mixed with other types of rice to create blends. The species forming a genus Zizania includes northern wild rice, wild rice, Texas wild rice, and Manchurian wild rice, among which first three are native to North America while the last one is native to China. Wild rice is low in fat and high in dietary fiber, the amino acid lysine, and protein, therefore it is preferred by most of the consumer as a substitute for rice, owing to high health consciousness among consumers.
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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.
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.
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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.