Singapore Rice Industry: Market Analysis, Size, Trends, Share, Key Players, Demand & Growth Drivers, By Distribution Channel With Regional Outlook & Forecast To 2030

Singapore Rice Industry Outlook 2017-2025

Singapore Rice Industry Market Overview

Globally, 90% production of rice is in Asia, but Singapore is an exception to rice production and rice consumption. Singapore had 347,000 metric tons consumption of rice in 2017, which was completely imported from Vietnam, Thailand and India. For many decades Thailand had been major exporter of rice to Singapore but since 2013 India overtook Thailand. Singapore imports jasmine rice, Vietnamese rice and many others, but Vietnamese rice pose greater competition to supply of other varieties of rice in Singapore due to the use of advanced technology in its production that beats the Singapore standards. Moreover, Singapore is commercial hub for ASEAN and the trade of Vietnamese rice to Philippines, Indonesia and African markets enters through Singapore, becoming a vital trade country for Vietnam. Singaporeans do not have high demand for rice, they prefer various other dishes. The tourists in Singapore with distinct taste and preference are the major consumers of rice. Therefore the growth in Singapore travel and tourism industry and food services industry are majorly driving the growth of Singapore rice industry. Additionally, in recent years the street eateries and restaurants have begun to buy rice, a price efficient alternative to sustain in the era of rising prices, is another factor inducing the demand for rice in Singapore.

Goldstein Research analyst estimates that the Singapore rice industry is expected to grow at CAGR of 1.9% through 2030. The factors such as growing rice consumers, rising importers of rice, mounting travel and tourism industry and food services industry are majorly impacting the growth of Singapore rice industry.

By Target Audience

• Government
• Rice Processing Companies
• Rice Exporters And Importers
• Investors
• Research Institutions

Singapore Rice Industry Market Trends, Drivers and Challenges to Market Growth

In the era of technology advancement, there is trend of producing genetically modified (GM) rice to ascertain the quality of rice and food security. Though commercially there is no production of GM rice, but many varieties have been approved for commercial production that is expected to be imported by Singapore.

Rice is a staple crop for 70% of the world and thus the demand for rice is expected to continue to grow over the forecast period. The food security concerns all over the world is driving the growth of the Singapore rice industry, which being an ideal hub for international rice futures market due to stable government, developed infrastructure and trading capacity, is thus expected to help in achieving food security, keeping affordable prices for poor consumers of rice.

With the climate change, continuous rising demand by consumers and the food security, rice industry is facing the challenge of producing rice without compromising on efficiency, equitability, environmentally-friendly, and more resilience to climate change. It has become imperative to produce rice at lesser land, with lesser water and labor.

Singapore Rice Industry Segmentation

By Rice Variety

• Japonica
• Indica
• Glutinous
• Aromatic

By Rice Type

• Milled Rice
• Basmati Rice
• Brown Rice
• Rough Rice
• Parboiled Rice
• Others (Wild rice, etc.)

By Grain Size Type

• Long Grain Rice
• Medium Grain Rice
• Short Grain Rice

By Application

• Food Consumption
• Beer Processing
• Pet Food

By Distribution Channel

• Online
• Offline

Covered in This Singapore Rice Industry Report

The report covers the present ground scenario and the future growth prospects of the rice industry for 2017-2030 along with the Singapore rice production and revenue of Singapore rice industry. We calculated the market size and revenue share on the basis of revenue generated from major players involved in rice processing across Singapore. We have forecast the market on the basis of producers, suppliers and distributors, exporters and importers.

On the basis of rice variety, aromatic rice accounted for largest market share in 2017 with 63.8% of total imported rice. Over the forecast period aromatic rice is expected to continue their dominance in the imports of rice varieties. Further, import of Indica rice market share has increased in the total rice imported from Vietnam and India and it is expected to grow at a CAGR of 1.3% over the forecast period.

Singapore rice industry outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Singapore rice industry. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Singapore rice industry report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Key Market Players 

• Singapore Rice industry report comprises of the following companies as the key players in the Rice industry:
• Kubota Rice Industry (SGP) Pte Ltd
•  Singvina PTE LTD
•  Saachi Singapore Pte. Ltd.
•  Centuria International
•  Midfa
•  Global RiTrader
•  Dashmesh Singapore PTE. LTD.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this Singapore Rice Industry Report

• What is the total market size by 2030 and what would be the expected growth rate?
• What is the revenue of Rice industry in 2016-17 and what would be the expected demand over the forecasted period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who all are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

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