Global Rice Processing Machine Market is Set to Breach a Revenue Level of US$ 1,476.81 Mn at a CAGR of 2.3% by year 2033-end | Get Latest Analysis by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
U.K. Rice Processing Machine Market valuation is expected to surpass US$ 106.40 Million by 2033. The agricultural sector is the key driver in the rice processing machine market.
DUBAI, United Arab Emirates, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The global rice processing machine market is valued at US$ 1176.43 million as on 2023. The market is expected to grow at a CAGR of 2.3% during the forecast period, and by 2033, the market is projected to reach a valuation of US$ 1476.81 million.
The burgeoning rice market is one of the major factors which might increase the demand for rice processing machine during the forecast period. Based on research conducted in 2020, the global rice market is valued at US$ 300 billion, which reflects the prospects ahead for the rice processing machine.
Moreover, the rice machine is known for enhancing the commercial value of rice. After the rice gets processed, the shelf life of the rice increases because of the development of an antioxidant layer over the rice.
Apart from that, the multifunctionality offered by the rice processing machine has attracted a lot of attention of the potential investors. The ability to preclean, soak, steam, and cast the rice ensures the fact that the manufacturers don not have to spend amount on different equipment, which ultimately helps in cost cutting.
Furthermore, the parboiled rice which is obtained from the rice processing plant is known for its high nutritional value. Apart from that, the rice obtained from the industrial rice milling machine also helps in fast digestion, high yield of rice, and quick cooking. All these factors might well increase the sales of rice processing machine during the forecast period.
Thus, from the insights provided by FMI researchers, it can be inferred that “a surging rice market, coupled with the ability to enhance the commercial value of rice and plenty of other factors are expected to surge the growth of rice processing machine market during the forecast period.”
Key Takeaways:
The rice processing machine market is valued at US$ 1176.43 million as on 2023.
By 2033, the market is expected to reach a valuation of US$ 1476.81 million.
The market is expected to grow at a CAGR of 2.3% during the period 2023-2033.
The US rice processing machine market is valued at US$ 341.17 million as on 2023, and is expected to grow at a CAGR of 3.9% during the forecast period.
The UK market is valued at US$ 64.70 million as on 2023, and is forecasted to grow at a CAGR of 5.1% during the forecast period.
The China rice processing machine market is expected to be valued at US$ 275.72 million by 2033, and is expected to grow at a CAGR of 9% during the forecast period.
The Japan market holds a valuation of US$ 76.47 million as on 2023, and is projected to expand at a sturdy CAGR of 9.5% through 2033.
The South Korea rice processing machine market is expected to grow at a CAGR of 10.6% through 2033, and by 2033, the market is expected to be valued at US$ 48.33 million.
Based on the product type, the horizontal roller segment holds the highest market share, and is anticipated to grow at a CAGR of 2.9% during the forecast period.
Based on the application, the pre-cleaning machinery segment holds the highest market share, and is anticipated to grow at a CAGR of 3.3% during the forecast period.
The key players operating in the rice processing machine market are investing in the technological aspects, which would mainly focus on reducing the size of the machine, and also increase the efficiency of the machine. Apart from that, the idea is also towards attaining the criteria of sustainable development, and contributing towards a robust future.
In September 2022, Dr. Zeno Staub was unanimously elected to the Board of Directors of the Buhler AG group.
Key Companies Profiled
Buhler AG
Fowler Westrup
AG Growth International Inc.
MillTECH Machinery Private Ltd.
Yamanoto
Zhejiang QiLi Machinery Co. Ltd.
Satake Corporation
Mill Master Machinery Pvt. Ltd.
G S International
G.G. Dandekar Machine Work
Hubei Bishan Machinery Co. Ltd
Key Segments in the Rice Processing Machine Market
Explore FMI’s Extensive Coverage on Process Automation Domain
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