PUBLISHER: SkyQuest | PRODUCT CODE: 1678010
PUBLISHER: SkyQuest | PRODUCT CODE: 1678010
Global Rice-Based Products Market size was valued at USD 240.39 billion in 2023 and is poised to grow from USD 255.29 billion in 2024 to USD 413.08 billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).
The market for rice-based products is witnessing a surge in demand, primarily driven by the growing gluten-free diet trend. As an alternative to wheat, rice flour is frequently utilized in baking, while rice noodles feature prominently in numerous Asian dishes. Their versatility has established rice-based products as essential staples in kitchens globally. Notably, the Asia-Pacific region dominated the global market in 2020, capturing over 50% share, largely due to high rice consumption in countries like China, India, and Japan, alongside its position as a leading rice producer. Looking ahead, significant growth is anticipated in North America and Europe, fueled by escalating demand for gluten-free options and the rising popularity of Asian culinary offerings.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Rice-Based Products market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Rice-Based Products Market Segments Analysis
Global Rice-Based Products Market is segmented by Product, Type, Distribution Channel, End-Use and region. Based on Product, the market is segmented into Rice Snacks, Rice Noodles, Rice Puddings, Rice Cakes, Rice Balls and Others. Based on Type, the market is segmented into Organic and Conventional. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online Retail and Others. Based on End-Use, the market is segmented into Residential, Commercial and Foodservice. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Rice-Based Products Market
A significant factor propelling the global rice-based products market is the surging demand for gluten-free alternatives. Rice-based items are increasingly favored as replacements for wheat-based goods, which contain gluten and pose challenges for individuals with celiac disease or gluten sensitivity. The rise in the incidence of celiac disease and gluten intolerance, along with heightened awareness surrounding gluten-free diets, is driving this trend. Additionally, the health advantages associated with rice-based products, such as their low-fat content and rich supply of carbohydrates and fiber, further enhance their appeal, making them a sought-after choice for health-conscious consumers.
Restraints in the Global Rice-Based Products Market
A major constraint facing the global rice-based products market is the volatility of raw material prices. Rice, the essential ingredient for these products, experiences price fluctuations influenced by numerous factors, including climate change, crop failures, and geopolitical tensions. Such instability can significantly affect production costs, subsequently impacting the retail prices of rice-based items, which might lead to decreased demand. Furthermore, the rising availability of alternative gluten-free options, particularly corn-based products, could also hinder the growth trajectory of the rice-based products market, as consumers may opt for these alternatives due to factors like price, accessibility, and perceived health benefits.
Market Trends of the Global Rice-Based Products Market
As of October 2023, a significant trend in the global rice-based products market is the increasing consumer demand for organic and non-GMO options. With growing health awareness, consumers are seeking products devoid of harmful chemicals and additives, propelling sales of organic rice noodles, rice cakes, and rice snacks. This trend is complemented by the rising popularity of plant-based diets, positioning rice-based products as appealing, sustainable alternatives to traditional animal-based foods. In response, manufacturers are diversifying their offerings to include a broader array of organic and non-GMO rice-based items, thereby capitalizing on the intersection of health consciousness and environmental sustainability.