India rice milling companies operate in the food processing industry, focusing on the milling and processing of rice. Some well-known companies in this sector are KRBL Limited, LT Foods, and Kohinoor Foods. They play a vital role in India's food supply chain by providing high-quality rice products for both domestic and international markets.
*Disclaimer: List of key companies in no particular order
Top listed global companies in the industry are:
Unveiling the Grainscape: Competitive Landscape of India Rice Milling Market
The Indian rice milling market is a bustling arena where tradition meets innovation. Understanding the strategies employed by key players, the factors influencing market share, and emerging trends is crucial for navigating this dynamic landscape.
Key Players and their Strategies:
Factors for Market Share Analysis:
Emerging Trends and Company Strategies:
Overall Competitive Scenario:
The Indian rice milling market is a dynamic and fragmented landscape, with established players facing challenges from regional specialists and innovative startups. Success hinges on adaptability, embracing technology, catering to diverse consumer preferences, and prioritizing sustainability. Companies focusing on premium rice, direct-to-consumer sales, and farmer partnerships are well-positioned to secure their share in this evolving market.
Latest Company Updates:
October 2023- TK Group and Meghna Group of Industries (MGI), two prime major product processors in Bangladesh, are ready to enter the milling and marketing of rice, a step that may strengthen competition but drive small operators out of the market. MGI has created an automatic rice and rice bran oil facility in Bogura, a northwestern district, with a funding of Tk 700 crore. TK Group has already purchased property in another northwestern district of Naogaon to build a rice mill. MGI seeks to start marketing rice in the middle of 2023, said Mostafa Kamal, the Chairman and Managing Director. He further added that they had been promoting rice via contracts for the last few years, and they have acquired the assurance of customers. Now, if they purchase paddy and mill the grain on their own, they will be able to offer better quality to their customers. An establishment of MGI, Tanvir Food Ltd, has developed the mill with a yearly manufacturing capacity of 3.5 lakh tonnes. As per the statement released by Kamal, MGI will produce rice bran oil to sell in both domestic as well as international markets. The group is strategizing to launch rice milling by the end of 2023. The director of TK Group's finance and operation, Md Shafiul Ather Taslim, said that they would function both in aromatic and parboiled rice segments. They plan to market rice in packaged form but in bulk.
India Rice Milling market industry is projected to grow from USD 230.7 Billion in 2024 to USD 308.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.7% during the forecast period (2024 - 2032). India Rice Milling Market Size was valued at USD 222.4 Billion in 2023. The Increased emphasis on rice processing plants for maximizing the shelf life of rice and growing investment in the technology by the government are the key market drivers enhancing the growth of market.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for India rice milling is being driven by the rising emphasis on rice processing in order to increase the shelf life of rice. The milling process offers more advantages for rice processing plants. The rising incentive of the market is owing to the rising investment in technology upgradation and modernization of rice mills in India and government-supportive schemes and policies. In India, rice processing is the largest agricultural product in the industry of agricultural processing.
The government of India is promoting rice production through a combination of the support prices, assured procurement, and subsidies on the main inputs like chemical fertilizers, irrigation, and electricity; the main proportion of input subsidies is consumed by rice. The competitiveness in the market of rice benefits from its low price of paddy rice production and supportive government policies. The rice farmers in India are primarily supported by those who profit from financial aid in purchasing fertilizer, seed, and fuel and are guaranteed a minimum support price (MSP) for their rice calculated to provide them an adequate rate of return. The government has maximized its technology and investment in modern rice processing. India solely deals with 85 million tons of paddy fields every year and supplies the food and other valuable products required for the population. The rising production of rice has increased the demand for high-quality rice processing equipment is surging.
The husk, germ, and husk layers are removed to different degrees during milling, which aims to get rid of colored bran and germs as well. The milled rice remains fresh for a longer period of time than un-milled combinations when stored in suitable conditions. Therefore, Indian rice milling machinery is important in maximizing the shelf life and minimizing the spoilage loss of rice. Rice milling also releases nutrients like minerals, vitamins, and fiber. Carbohydrates, energy, sugar, protein, calcium, fatty acids, iron, and sodium are some of the nutrient proximate are also lower in milled rice when compared to un-milled rice. The technological advancements and modernization of rice mills will assist in minimizing the time of downstream processing and hence fulfills the demand for rice for consumption and also exports. The growing demand for high-quality rice and the rising adoption of novel cultivation techniques and high-yielding varieties provides a significant opportunity for market players in the rice milling machinery market. These key players can provide modern machines that can enhance the efficiency of the rice milling process, minimize labor costs and raise the quality of the final products. Thus, driving the India Rice Milling market revenue.
The India Rice Milling market segmentation, based on type, includes Rice Whitening Machinery, Paddy Separator Machinery, Pre Cleaner Machinery, Length Grader Machinery, and Others. The rice whitening machinery segment dominated the market, accounting for the largest market revenue in 2021 due to the increased demand for premium quality rice. Further, the paddy separator machinery was the rapid growing segment in the forecast period as the process of paddy separation is difficult, and thus the utilization of paddy separators will make this process easier for the farmers.
The India Rice Milling market segmentation, based on capacity, includes 1 to 10 Ton, 10 to 20 Ton, and More Than 20 Ton. The 1 to 10 tons segment of the capacity dominated the market owing to the presence of various small-scale companies in the country. Further, the more than 20 tons segment witnessed the rapid growth throughout the forecast period owing to the increasing population and rising demand for rice in India.
Figure 1: India Rice Milling Market, by Capacity, 2024 & 2032 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Leading market participants are investing heavily in research and development in order to spread their product lines, which will help the India Rice Milling market grow even more. Market players are also undertaking various strategic activities to spread their global footprint, with important market developments including new product launches, mergers and acquisitions, higher investments, contractual agreements, and collaboration with the other organizations. To spread and survive in a more competitive and rising market climate, India's Rice Milling industry must offer cost-effective items.
Manufacturing locally to reduces operational costs is one of the prime business tactics used by manufacturers in the India Rice Milling industry to benefit clients and increase the market sector. In recent years, the India Rice Milling industry has offered some of the most significant advantages to rice industry. Major players in the India Rice Milling market, including Buhler Group, MilTECH Machinery Private Ltd, Satake Group, Savco Sales Pvt. Ltd, Fowler Westrup, Hubei Bishan Machinery Co Ltd., Adani Wilmar Limited, Mill Master Machinery Pvt Ltd., GS International, and others are attempting to increase market demand with the investment in research and development operations.
Adani Wilmar Limited, founded in 1999 and headquartered in Ahmedabad, India, is a multinational food and beverage conglomerate based in India, a joint venture of Wilmar International and Adani Enterprises, and the largest processor of palm oil. The company is one of the large FMGC food companies in India to offer essential kitchen commodities for Indian consumers, including edible oil, wheat flour, pulses, rice, and sugar. The products are provided under a diverse range of brands throughout a broad spectrum and offer to various customer groups. In May 2022, Adani Wilmar declared the acquisition of Kohinoor Brand in India from McCormick Switzerland GNBH. This acquisition is inclusive of the Kohinoor brand portfolio comprising of premium Basmati rice and Charminar for affordable rice.
Hubei Bishan Machinery Co Ltd is a factory specializing in grain and oil processing machinery manufacturing. The company designs rice milling equipment and heavy edible oil extracting equipment. The company has the capability to produce 2000 sets of varied rice milling and oil extracting equipment. The company is a manufacturer specialized in providing different series of unit machinery and whole plants for edible oil pressing with tropical oil seeds like palm fruits, rubber seeds, desiccated coconuts, etc. With years of research and production practices, the company has collected rice professional knowledge and practical experiences; hence there is strong technical capability. The company has established a primary principle of modern management, and the systems of the management computerization, scientific production control, and information automation have shaped up. In June 2021, Hubei Bishan Machinery Co. Ltd launched its new MNMSL 46 RICE whitener, which is anticipated to fuel the growth of the market.
March 2022: A company owned by Buhler, Benlink, announced its strategic partnership with the Alfa Level to expand the handling of fluid, heat transfer, and centrifugal separations in the rice milling process.
January 2022: Solace Nutrition, a US-based medical nutrition company, bought R-Kane Nutritionals' assets for an unknown sum. This asset acquisition enables Solace Nutrition to develop synergy between both brands, accelerate growth, and establish a position in an adjacent nutrition sector. R-Kane Nutritionals is a firm established in the United States that specializes in high-protein meal replacement products for weight loss.
February 2021: Hydroxycut's newest creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was carefully formulated for regular energy drink consumers, exercise enthusiasts, and dieters looking to lose weight.
India Rice Milling Market Highlights:
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