Rice Snacks Market Expected to Hit USD 8007.2 Million by 2029 Driven by Rising Demand for Healthy and Gluten-Free Snacks | Valuates Reports
BANGALORE, India, Nov. 14, 2024 /PRNewswire/ -- Rice Snacks Market is Segmented by Type (Glutinous Rice Base, Non-Glutinous Rice Base), by Application (Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Online Retailers): Global Opportunity Analysis and Industry Forecast, 2023-2029.
The Global Rice Snacks Market Revenue was US$ 6494.5 million in 2022 and is forecast to a readjusted size of US$ 8007.2 million by 2029 with a CAGR of 3.0% during the forecast period (2023-2029).
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Major Factors Driving the Growth of Rice Snacks Market
The rice snacks market is experiencing robust growth as consumers worldwide embrace healthier, gluten-free snack options. With factors such as rising disposable income, increased snacking, and cultural influence from Asian cuisine, rice-based snacks are gaining popularity in various forms, including crackers, cakes, and chips. The market benefits from innovation in flavor and convenience, catering to busy lifestyles and diverse dietary preferences. As manufacturers leverage e-commerce and expand product variety to meet global demand, the rice snacks market is positioned for steady growth, appealing to health-conscious, flavor-seeking consumers across different regions.
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TRENDS INFLUENCING THE GROWTH OF THE RISE SNACKS MARKET:
Non-glutinous rice is a staple for rice snacks due to its light texture and adaptability in various culinary forms. This rice type provides a lower-calorie base, appealing to health-conscious consumers looking for alternatives to high-calorie, gluten-based snacks. Non-glutinous rice is also suitable for creating crispy textures that enhance the appeal of rice-based snacks, particularly in popular products like rice crackers and chips. The versatility of non-glutinous rice allows manufacturers to experiment with diverse flavors and formulations that cater to regional preferences and dietary needs. The increasing demand for snacks that offer balanced nutrition and fit into low-gluten or gluten-free diets is a major factor driving the adoption of non-glutinous rice in the rice snacks market, as consumers continue to look for lighter and healthier snack options.
Glutinous rice, known for its sticky and chewy texture, is integral to the production of traditional rice snacks, particularly in Asian markets. Its unique texture appeals to consumers seeking authentic, culturally-inspired snacks, such as mochi or rice balls, which are traditionally made with glutinous rice. Additionally, glutinous rice is favored in the preparation of sweet rice snacks due to its naturally higher starch content, which enables it to absorb flavors effectively, creating satisfying and rich taste profiles. As consumers around the world embrace snacks that provide unique textures and cultural appeal, the demand for glutinous rice-based snacks continues to grow, especially among snack enthusiasts looking for authentic and satisfying flavors. This consumer trend towards novel textures and tastes drives the use of glutinous rice in the market, enhancing product diversity and market growth.
Supermarkets and hypermarkets are key distribution channels for rice snacks, offering a variety of choices to meet diverse consumer preferences. These retail outlets provide substantial shelf space for both established brands and new products, allowing consumers to explore different rice-based snack options conveniently. With the rise of large supermarket chains globally, rice snacks reach a broad audience, benefiting from the high foot traffic in these stores. In addition, supermarkets and hypermarkets frequently offer promotions, discounts, and samples that encourage trial purchases, which helps to boost sales and visibility of rice snacks. The convenience and accessibility offered by these retail giants make them essential to the rice snacks market, as they enable manufacturers to reach consumers directly, supporting sustained growth in sales and market share for rice-based snack products.
The rising demand for healthy snacks is a significant driver for the rice snacks market, as consumers look for alternatives to traditional, high-calorie snack foods. Rice snacks are often marketed as low-fat, gluten-free, and low-calorie options, which appeals to health-conscious consumers. With more people embracing healthier eating habits, rice snacks have become a popular choice for those seeking balanced nutrition in their snack options. This trend is driving market growth as manufacturers emphasize the health benefits of rice-based snacks, catering to a broad audience of health-focused consumers.
The growing popularity of Asian cuisine globally has influenced snack trends, bringing rice-based snacks into mainstream markets. Traditional Asian rice snacks, such as rice crackers and mochi, are gaining traction among consumers who enjoy authentic flavors and textures. This cultural influence is broadening the appeal of rice snacks, as they are now perceived as unique, flavorful, and exotic. The cross-cultural appeal of Asian rice snacks is contributing to market growth as they reach new demographics seeking diverse and culturally rich snack experiences.
Modern lifestyles often lead to increased snacking as consumers look for quick, convenient food options. Rice snacks, which are portable, easy to eat, and offer a satisfying texture, meet the needs of busy individuals seeking convenient snack choices. As people balance work, travel, and personal life, demand for ready-to-eat snacks like rice crackers and rice cakes rises, supporting market growth. Manufacturers are capitalizing on this trend by packaging rice snacks in single-serve, portable formats, making them a go-to choice for on-the-go snacking.
Consumers are increasingly concerned about the ingredients in their snacks, with a preference for products that use natural and minimal ingredients. Rice snacks, which are often made with simple, clean ingredients, align with this trend, making them an attractive choice for health-conscious consumers. Many rice snack brands emphasize transparency and the use of natural ingredients, which resonates with consumers seeking snacks without artificial additives. This trend toward clean-label products boosts the rice snacks market as it meets the demand for wholesome, straightforward snack options.
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RICE SNACKS MARKET SHARE:
The rice snacks market exhibits regional variations based on dietary habits, cultural preferences, and lifestyle trends. In Asia-Pacific, rice snacks are deeply rooted in traditional diets, driving high demand in countries like Japan, China, and Thailand. North America and Europe are experiencing increased interest in rice snacks due to the popularity of Asian cuisine and a growing preference for gluten-free, low-calorie snacks. The Middle East and Latin America show emerging potential as consumers adopt healthier snacking options. Each region's unique tastes and dietary trends shape the market, contributing to its global expansion as rice snacks become more widely accepted across diverse markets.
Key Companies:
- Want Want
- COFCO
- Kameda Seika
- Sanko Seika
- Iwatsuka Confectionery
- Mochikichi
- Kuriyamabeika(Befco)
- Bourbon
- TH Foods
- BonChi
- Ogurasansou
- Echigoseika
- UNCLE POP
- Miduoqi
- Xiaowangzi Food
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- The global Rice Cracker market was valued at US$ 6556.8 million in 2023 and is anticipated to reach US$ 8084 million by 2030, witnessing a CAGR of 3.0% during the forecast period 2024-2030.
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- Rice Flour Market revenue was US$ 13730 million in 2022 and is forecast to a readjusted size of US$ 16580 million by 2029 with a CAGR of 2.7% during the forecast period (2023-2029).
- De-Oiled Rice Bran market was valued at US$ 928 million in 2023 and is anticipated to reach US$ 1260 million by 2030, witnessing a CAGR of 4.6% during the forecast period 2024-2030.
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