|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 197.9 Billion||USD 322.3 Billion||6.3%||2022|
Rice Snacks Market
The global rice snacks market size is set for rapid growth over the forecast period. In terms of revenue, the global rice snacks market accounted for USD 197.9 Billion in 2022 and is expected to reach USD 322.3 Billion by 2030, growing at a CAGR of 6.3% during the forecast period. The market report offers quantitative and qualitative insights into the key drivers, opportunities, constraints, and challenges impacting global rice snacks industry growth.
In some countries, rice is such an essential food that "to eat" means "to have rice." Almost half of the people across the globe get about 50 percent of their calories by eating rice. White and brown rice are the same grain, milled differently. The brown rice kernels have an intact bran layer, whereas it has been polished away in white rice. The production of the bran layer outside brown rice makes it more nutritious than white, even though some white rice is fortified. Moreover, brown rice takes a long time to cook due to the presence of a bran layer. Thus, brown rice snacks are more nutritious. Brown rice can help regulate blood sugar levels for people with diabetes.
Whole grains such as brown rice contain more fiber than packaged foods. This can lower cholesterol and reduce the risk of heart disease and stroke. Brown rice contains three different types of phenols, which are antioxidants that normally occur in plants. By preventing free radicals from destroying cells, antioxidants may decrease cancer risk. Regular bowel movements are facilitated by the insoluble fiber in brown rice. It can also avoid hemorrhoids and improve control of the intestines. Since it is gluten-free, brown rice for individuals with celiac disease is a healthy food option. Some grains may not be digested by those with celiac disease and may have trouble having all the nutrients they need.
Surge in demand for healthier snack options and availability of wide range of rice-based snacks drive the growth of the market
The global rice snacks market is witnessing significant growth in recent years, driven by several factors. One of the major factors contributing to this growth is the increasing demand for healthier snack options. Rice snacks are considered to be a healthier alternative to traditional snacks as they are low in fat, gluten-free, and easy to digest. Another key driver of growth in the rice snacks market is the rising popularity of Asian cuisine and the use of rice in various food products. This has led to the development of a wide range of rice-based snacks, including rice cakes, chips, and crackers. Furthermore, the growth of the rice snacks market is also being fueled by the increasing demand for on-the-go and convenient snack options. Rice snacks are easy to carry and consume, making them an ideal snack for busy consumers.
Availability of alternatives and low awareness among consumers might restrict the growth of the market
One of the key restraints for the rice snacks industry is the availability of alternatives, as there are many other healthy snack options available in the market. Additionally, the cost of production and distribution can also be a restraint, particularly for small-scale manufacturers. Moreover, the low awareness among consumers regarding the benefits of rice snacks can be a challenge for market growth. Lastly, the potential for cross-contamination during production due to shared equipment with gluten-containing products can limit the market growth for rice snacks.
Rise in inclination towards gluten-free and non-GMO snack options create ample opportunities for the market
One of the key opportunities is the increasing demand for gluten-free and non-GMO snack options, which creates a niche for rice-based snacks that cater to these dietary requirements. Furthermore, the use of innovative flavors, such as fusion flavors that combine different culinary traditions, presents an opportunity for manufacturers to differentiate their products and appeal to a wider consumer base. Another opportunity for the global rice snacks market is the growing trend of online sales and direct-to-consumer channels, which provides a platform for smaller manufacturers to reach a wider audience and promote their unique offerings. Additionally, the increasing awareness of healthy snacking habits and the demand for on-the-go and convenient snacks presents an opportunity for rice snacks to expand their market share. Lastly, the growing demand for organic and sustainable food products presents an opportunity for rice snacks made from organic rice and other natural ingredients, which aligns with the values of environmentally-conscious consumers.
Fluctuation in the prices of raw materials and growing competition among players act as a challenge for the market
The rice snacks industry is not without its challenges. One of the major challenges is the increasing competition in the market, as more players enter the industry and existing players diversify their product offerings. This can lead to pricing pressures and decreased profitability for manufacturers. Another challenge is the fluctuation in the price of raw materials, such as rice, which can impact the cost of production and pricing of the final products. Moreover, maintaining the quality and taste of rice snacks can be challenging, particularly when using natural ingredients and without the use of artificial preservatives
The global Rice Snacks market can be segmented into products, distribution channel, and region.
Based on product, the market is bifurcated into rice cakes, rice crisps, and rice chips. The rice cakes segment held a notable market share and is further predicted to cite the fastest CAGR of 7.3% during the forecast period. The rice cakes segment of the market has been experiencing significant growth in recent years, driven by factors such as increasing demand for gluten-free and low-calorie snacks and the rising popularity of healthy snacking options. Rice cakes are a popular choice for health-conscious consumers due to their low fat and calorie content, making them a suitable option for those looking to maintain a healthy lifestyle. Additionally, the availability of various flavors and varieties of rice cakes has further boosted their popularity.
Based on distribution channel, the market is segmented into offline and online channel. The offline segment held the largest market share in 2022, occupying over 30% of the market. The major reason for the growth of this segment is that they offer a wider reach and a more personalized shopping experience for customers. Additionally, these channels offer more opportunities for brand building and marketing, which can be crucial for small and medium-sized manufacturers. The growing demand for healthy snacking options and the availability of a wide range of rice snacks are expected to further drive the growth of the offline channel segment of the market in the coming years.
|Report Attributes||Report Details|
|Report Name||Global Rice Snacks Market Research Report|
|Market Size in 2022||USD 197.9 Billion|
|Market Forecast in 2030||USD 322.3 Billion|
|Growth Rate||CAGR of 6.3%|
|Number of Pages||190|
|Key Companies Covered||Element Snacks Inc., Blue Diamond Growers, General Mills Inc., Kellogg Co., KAMEDA SEIKA CO. LTD., PepsiCo Inc., Lundberg Family Farms, Topco Associates LLC, Nestle S.A., Hippie Snacks Inc., Biena Snacks LLC, Made in Nature, LLC, GoMacro, LLC, Orion Corp., ITC Limited, General Mills, Inc., Kraft Foods Company, Amira Nature Foods Limited, Ricegrowers Ltd., and Umeya Inc. among others.|
|Segments Covered||By Product, By Distribution Channel, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Asia Pacific to rule the global market during the forecast period
Asia Pacific was the largest rice snack market in 2022, and during the forecast period, the region will continue to grow, providing full growth opportunities to the vendors. One of the main reasons that will greatly affect the growth of the demand for packaged rice snacks is the increasing customer propensity toward rice-based food products. Vendors often rely on creativity in order to improve their product lineup. Presence of growing economies that are known for rice snacks such as Japan, India, and China is expected to boost market growth. Due to the growing demand for healthy snacks, the increasing Asian American population and rising buying power, and preference for ready-to-eat snacks, the North American market is anticipated to expand in the near future.
Some main participants of the rice snacks market are:
By Distribution Channel
Rice snacks are delicious and nutritious snacks made from rice grains. They come in various forms such as rice cakes, rice crackers, and rice chips, and are often seasoned with flavors like seaweed, soy sauce, or chili. They make for a great snack option that is gluten-free and low in fat.
The global rice snacks market is predicted to increase at a CAGR of 6.3% during the forecast period.
The global rice snacks market was worth around USD 197.9 billion in 2022 and is expected to reach USD 322.3 billion by 2030
The global rice snacks market is being driven by several factors, including the increasing demand for healthy and convenient snack options, growing awareness of gluten-free and vegan diets, rising disposable incomes, and the availability of a wide range of flavors and varieties. Additionally, the growing trend of snacking between meals is also contributing to the growth of the rice snacks market.
Asia-Pacific held the largest share in the global rice snacks market in 2022 and is likely to continue the same trend during the forecast period. The growth of the rice snacks market in Asia-Pacific is being driven by factors such as increasing population, urbanization, rising disposable incomes, and changing consumer preferences. Additionally, the region is witnessing growing investments in infrastructure and technology, which is creating new opportunities for businesses to expand and grow.
Some of the major companies operating in the rice snacks market include Element Snacks Inc., Blue Diamond Growers, General Mills Inc., Kellogg Co., KAMEDA SEIKA CO. LTD., PepsiCo Inc., Lundberg Family Farms, Topco Associates LLC, Nestle S.A., Hippie Snacks Inc., Biena Snacks LLC, Made in Nature, LLC, GoMacro, LLC, Orion Corp., ITC Limited, General Mills, Inc., Kraft Foods Company, Amira Nature Foods Limited, Ricegrowers Ltd., and Umeya Inc. among others.