Rice Based Products Market Share, Size, Trends, Industry Analysis Report, By Product (Rice Snacks, Rice Noodles, Rice Puddings, Rice Cakes, Rice Balls, Others); By Distribution Channel, By Type; By Region; Segment Forecast, 2023 - 2032
- Published Date:Mar-2023
- Pages: 114
- Format: PDF
- Report ID: PM3089
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global rice-based products market was valued at USD 200.24 billion in 2022 and is expected to grow at a CAGR of 6.3% during the forecast period. The global market is expanding as a result of the sharp rise in demand for rice-based goods including cakes, noodles, and other items everywhere in the world. After cooked rice grains, rice noodles are the second most common variety of rice products. Rice-based products are highly demanded in China and Southeast Asian nations including Vietnam, Thailand, Sri Lanka, and the Philippines. Also the product are available in various form and test with processing technique such form as fresh, dried, frozen, and instant products of various thicknesses and shapes.
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Increase rice production propel the production of rice-based products such as rice flakes, popped or expanded rice, which is made from rice or paddy, vermicelli, muruku, etc., which are made from rice paste, and fermented from a combination of rice & pulses have all been very popular in globe. Rice-based products, which have a high starch content and are served as ready-to-eat directly from the package.
To increase the demand for rice based products, major market players are also experimenting with different flavors to the attraction of their products, also increase the nutritional content, flouring materials, vitamin B complex, minerals, and protein-containing substances may be added.
The market has expanded globally as a result of increased consumer demand for products made with aromatic rice and ongoing product development. Rice-based products are increased nutrient absorption, for newborns and toddlers. The market for rice-based products is developing as a result of the fast-paced lifestyle, technological advancements, a shifting of consumer preferences toward healthier snacking, and rising urbanization in these countries. Also rice product helps to lose weight quickly and safely and feels energetic to the consumers.
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Industry Dynamics
Growth Drivers
The expanding health benefits of rice food products are a key trend driving the market expansion for rice-based products. More people are becoming health-conscious in globe; as a result, there is an increasing need for healthy snacks made with premium ingredients. The rice-based product is a good source of iron, phosphorus, manganese, and vitamins B1, B3, and B6. It has four times as much insoluble fiber.
Additionally, rice has a high fiber content that helps reduce various chronic issues and enhance gut health. Because rice snacks have a high fiber content that helps to reduce inflammation, improve digestive health, and speed up metabolism, consumers who have digestive-related disorders frequently use rice-based items in their diets. Rice based products specially snacks items, which are thought to calm mood, can improve both physical and mental health.
Report Segmentation
The market is primarily segmented based on product, distribution channel, type, and region.
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By Product |
By Distribution channel |
By Type |
By Region |
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Rice Noodles segment is expected to witness fastest growth over the forecast period
The rice noodles segment is anticipated to increase as a result of the rising desire for nutrient food among a sizable portion of the global population. The noodles are a great source of antioxidants, selenium, and magnesium, all of which help reduce the risk of chronic diseases like cancer and heart disease. Rice noodles are formed from rice bran and germ, also rice noodles offer a high concentration of vital nutrients that support digestion.
The rice-based products market is expanding as a result of numerous product improvements, such as the introduction of ready-to-eat instant rice noodles in a range of tastes. Additionally, rising consumer disposable income and rising adoption of vegan eating habits are anticipated to fuel this segments expansion over the course of the study period.
The rice cake segment is anticipated growth during the study period, as they are low-calorie snacks as an alternative to fast food & also supports a healthy lifestyle. Demand for readymade foods has increased due to the busier lifestyles of customers, because these consumer are consumed healthy snacks in between the meals, rice cakes are becoming more and more popular.
Supermarkets/Hypermarkets accounted for the largest market share in 2022
The supermarkets and hypermarkets dominate the market in terms of revenue contribution over the study period, because it provides many benefits over online stores like, availability of product, freedom of choice, a wider selection of products, and discount offers. Hypermarkets and supermarkets also offer a large range of product from which clients can select based on their requirements and needs. Cosmetic product like rice riche face scrub, rice riche cream, rice riche moisturizing lotion such products are sold by some of the biggest retailers in the industry, including Walmart, Target Brands, Inc., and others, both online and in physical stores.
Consumers are increasingly using online stores in their busy lifestyles and for convinced to buy items they need daily, such as food and drinks. The increasing trend of ordering through e-Commerce channels during the COVID-19 pandemic is which register the highest revenue in 2021. Customers may shop easily and comfortably, and you can tailor their experience based on previous sales and preferences.
Conventional goods sector is expected to hold the significant revenue share
The relative affordability and accessibility of conventional goods compared to organic ones are crucial element contributing to a larger share of the market. Additionally, conventional products have several benefits, including longer shelf life and others, which increase customer usage and raise the segment's market share. Natural or organically grown ingredients that are safe to eat make up organic products. Increasing consumer awareness has led to a significant rise in the consumption of organic products. In addition, a large number of goods are introduced by market players, which is projected to accelerate the segment's expansion in the years to come.
The demand in Asia Pacific is expected to witness significant growth
In 2022, Asia Pacific region exhibited highest growth rate during study period. The growth of these sector is anticipate to the high consumption and production of rice-based products in the India, China and Southeast Asian countries such as Thailand, Sri Lanka, Philippines, and Vietnam. One of the most common types of rice products consumed in Southeast Asia is rice noodles, which come in a variety of ingredients, preparations, and shapes.
Wet rice batter is layered into the rotating, heated drum to form the sheet, which is then stripped off and transported to the steam funnel where the gelatinization process could takes place to produce sheeted rice noodles, which are especially popular in most of Southeast Asia, southern China, and Japan.
Europe is expected to be the fastest-growing in the global market over the forecast period. The expanding acceptance of ready-to-eat meals and the growing popularity of snacking in European nations are anticipated to support the expansion of this segment. Rice items that are ready to eat include puddings, cakes, noodles, and nibbles. Also, the expanding demand from the consumer for ready-to-eat products will benefit from the increased penetration of products through online steams.
Competitive Insight
Some of the major players operating in the global rice-based products market include Thai President Foods Public Company, Nona Lim, Lotus Foods, Annie Chun's, Element Snacks, The Quaker Oats, Ricegrowers Ltd, KAMEDA SEIKA CO., Sanorice, OTTOGI CORPORATION, Pepsico, The Kellogg Company, General Mills, Rivina Food, Kohinoor Food ltd.
Recent Developments
- In Dec 2022, AGI Growth International partnered with the ADAMCO. With this agreement ADAMCO will exhibit AGI’s portfolio of the new-age milling equipment.
- In Dec 2022, Kerry signed a new agreement with the Kameda Seika. This is to distribute rice-based probiotics exclusively in the Americas & Europe.
Rice-based products Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 212.17 billion |
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Revenue forecast in 2032 |
USD 368.00 billion |
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CAGR |
6.3% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Form, By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Thai President Foods Public Company , Nona Lim, Lotus Foods, Annie Chun's, Element Snacks, The Quaker Oats, Ricegrowers Ltd, KAMEDA SEIKA CO., Sanorice, OTTOGI CORPORATION, Pepsico, The Kellogg Company, General Mills, Rivina Food, Kohinoor Food ltd. |
FAQ's
The global rice-based products market size is expected to reach USD 368.00 billion by 2032.
Key players in the rice-based products market are Thai President Foods Public Company , Nona Lim, Lotus Foods, Annie Chun's, Element Snacks, The Quaker Oats, Ricegrowers Ltd, KAMEDA SEIKA CO.
Asia Pacific contribute notably towards the global rice-based products market.
The global rice-based products market expected to grow at a CAGR of 6.3% during the forecast period.
The rice-based products market report covering key segments are product, distribution channel, type, and region.
