USD 198.04 billion
Report ID: SQMIG30C2073 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 60 | Figures: 76
Rice-Based Products Market size was valued at USD 198.04 billion in 2021 and is poised to grow from USD 210.32 billion in 2022 to USD 340.31 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
Rice-based products have become increasingly popular in gluten-free diets as a substitute for wheat-based products. Rice flour is commonly used in baking, while rice noodles are used in a variety of Asian cuisines. The versatility of rice-based products has made them a staple in many kitchens worldwide. In 2020, Asia-Pacific held the largest market share of the global rice-based products market, accounting for over 50% of the market. This can be attributed to the high consumption of rice as a staple food in countries like China, India, and Japan. The region is also a major rice producer, further boosting the market. North America and Europe are expected to witness significant growth in the rice-based products market during the forecast period, driven by the increasing demand for gluten-free products and the rising popularity of Asian cuisine.
US Rice-Based Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 198.04 billion
To get more reports on the above market click here to Buy The Report
Global Rice-Based Products market is segmented by product type, distribution channel, and region. Based on type, the Rice-Based Products Market can be segmented into rice-flour, and rice bran. Based on distribution channel, the Rice-Based Products Market is segmented into online retail, and offline retail. Based on region, the Rice-Based Products Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Rice-Based Products Market Analysis by Type
By type, the market can be segmented into rice flour and rice bran. Rice flour dominated the global market, accounting for a significant overall revenue share. This is attributed to the wide range of applications of rice flour as a gluten-free alternative to wheat flour in various food products, such as bread, cakes, and pastries. The increasing prevalence of gluten intolerance and celiac disease among consumers has also contributed to the growth of the rice flour market.
On the other hand, rice bran is the fastest-growing segment of the rice-based products market. Rice bran is a rich source of dietary fiber, antioxidants, and other nutrients, which are increasingly in demand among health-conscious consumers. The growing awareness about the health benefits of rice bran, including its ability to reduce cholesterol levels, improve digestion, and prevent chronic diseases such as cancer and diabetes, has led to a surge in demand for rice bran-based products.
Rice-Based Products Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline retail and online retail. Offline retail, including supermarkets and hypermarkets, convenience stores, and specialty stores, dominate the market in terms of revenue. This is due to the wide availability of rice-based products through these traditional brick-and-mortar stores, which offer consumers a chance to physically inspect and select the products they want to buy. Supermarkets and hypermarkets are the largest offline distribution channels for rice-based products, accounting for a significant market revenue share. Convenience stores and specialty stores also contribute to the offline market segment, with a growing number of consumers preferring the convenience of purchasing rice-based products in smaller stores.
However, the fastest-growing segment of the rice-based products market is online retail. The rise of e-commerce platforms and the increasing adoption of online shopping by consumers have contributed to the growth of the online segment. Online retailers offer a wide range of rice-based products from different brands, and consumers can easily compare prices, read reviews, and place orders from the comfort of their homes.
To get detailed analysis on other segments, Request For Sample Report
APAC is the dominant region in the global rice-based products market, with over 50% market share. The region is a major producer and consumer of rice, with countries like China, India, Japan, and Thailand being major players in the market. The demand for rice-based products in the region is driven by the popularity of rice as a staple food and the increasing demand for gluten-free products. In addition, the region has a rich culinary tradition that uses rice-based products, such as rice noodles, sushi, and rice crackers. The region's growing population and rising disposable income levels are driving the demand for rice-based products. The increasing trend of adopting a healthy lifestyle is also contributing to the growth of the market in the region.
North America has a significant market share, and the region is expected to witness rapid growth in the coming years. The increasing demand for gluten-free products drives the growth, as rice-based products are a popular substitute for wheat-based products. The United States is the region's largest market for rice-based products, followed by Canada and Mexico. The popularity of Asian cuisine in North America is also driving the growth of the market, as rice is a key ingredient in many Asian dishes.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Rice-Based Products Market Drivers
Increasing demand for gluten-free products
Rice-Based Products Market Restraints
Fluctuating prices of raw materials
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global rice-based products market is highly fragmented, with the presence of several small and large players. The market is characterized by intense competition, with players focusing on product innovation, expanding their distribution networks, and strategic collaborations and partnerships. The competition is also driven by factors such as pricing, quality, and brand recognition. Additionally, the increasing demand for rice-based products has led to the entry of new players, which has further intensified the competition in the market.
Rice-Based Products Market Top Player’s Company Profiles
Rice-Based Products Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global rice-based products market analysis, the market is a rapidly growing, driven by factors such as increasing demand for gluten-free products, rising health consciousness among consumers, and the popularity of plant-based diets. The market is highly fragmented, with the presence of several small and large players, and intense competition. Key players in the market are focusing on product innovation, expanding their distribution networks, and strategic collaborations and partnerships. The market is also characterized by the growing popularity of organic and non-GMO rice-based products. APAC and North America are the regions with the highest market share and fastest CAGR, respectively.
|Market size value in 2021||USD 198.04 billion|
|Market size value in 2030||USD 210.32 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Rice-Based Products Market Recent Developments
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Rice-Based Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rice-Based Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Rice-Based Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Rice-Based Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.