Global Packaged Rice Snacks Market Size To Exceed USD 3.32 Billion By 2033 | CAGR of 4.34%
Category: Food & BeveragesGlobal Packaged Rice Snacks Market Size To Exceed USD 3.32 Billion By 2033 |
According to a research report published by Spherical Insights & Consulting, the Global Packaged Rice Snacks Market Size is Expected to Grow from USD 2.17 Billion in 2023 to USD 3.32 Billion by 2033, at a CAGR of 4.34% during the forecast period 2023-2033.
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Browse key industry insights spread across 235 pages with 110 Market data tables and figures & charts from the report on the "Global Packaged Rice Snacks Market Size, Share, and COVID-19 Impact Analysis, By Product Type ( Rice Cakes, Rice Crisps, Rice Puffs, Rice Chips, Instant Rice Snacks), By flavor (Salty, Sweet, Spicy, Savory, Mixed Flavors), By Packaging Type ( Bags, Boxes, Single-Serve Packs, Bulk Packaging, Eco-friendly Packaging), By Distribution Channel (Online Retailers, Supermarkets/Hypermarkets, Convenience Stores, Specialty Food Stores, Wholesale Distributors), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/packaged-rice-snacks-market
The packaged rice snacks market encompasses a diverse range of pre-packaged, ready-to-consume food items prepared mainly of rice. Rice snacks may comprise puffed rice, rice cakes, rice crisps, and other rice-based items. These snacks are usually seasoned or flavored and sold in different sizes and shapes for convenience to consumers. Rice snacks are generally promoted as a healthier choice of snack as rice is a naturally gluten-free and low-fat food item. Moreover, rising health awareness among consumers has resulted in demands for healthier snacking options. Rice snacks, being viewed as lower in calories and fat than regular chips and processed foods, are gaining popularity drives the packaged rice snacks market. Most rice-based snacks have been promoted as gluten-free, low-fat, and low-calorie products targeting health-conscious consumers. However, the expense of premium rice, together with the necessity to use specialized manufacturing machinery to produce innovative rice snacks, can drive up production costs. This could affect pricing strategy and reduce profitability hindering the packaged rice snacks market, particularly in lower-income disposable marketplaces.
The rice cakes segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the packaged rice snacks market is divided into rice cakes, rice crisps, rice puffs, rice chips, and instant rice snacks. Among these, the rice cakes segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to rice cakes being one of the most traditional and highly recognized products that are light, crunchy in nature, and readily available in plain or flavored formats, including salted sesame, or multigrain flavors. Rice cakes are convenient to use, of different flavors, and are highly promoted as being gluten-free, low-fat, and low-calorie, rendering them extremely desirable for consumers concerned with healthy foods.
The savory segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the flavor, the packaged rice snacks market is divided into salty, sweet, spicy, savory, and mixed flavors. Among these, the savory segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven due to savory flavors, such as cheese, BBQ, and herbs, which are very versatile and can be combined with a variety of drinks, ranging from sodas and juices to alcoholic beverages. This makes them perfect for both social and casual snacking situations.
The bags segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
Based on the packaging type, the packaged rice snacks market is divided into bags, boxes, single-serve packs, bulk packaging, and eco-friendly packaging. Among these, the bags segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth is attributed to its practicality, manageability, and capacity to preserve flavor and freshness. These packaging alternatives are ideal for on-the-go eating because they are portable, frequently resealable, and effectively protect the snacks inside.
The supermarket/hypermarket segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the packaged rice snacks market is divided into online retailers, supermarkets/hypermarkets, convenience stores, specialty food stores, and wholesale distributors. Among these, the supermarket/hypermarket segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to supermarkets and hypermarkets providing value packs or bulk buy options, which are attractive to customers who purchase snacks in larger quantities at an affordable price, thus further contributing to sales within this channel.
Asia Pacific is expected to hold the majority share of the global packaged rice snacks market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global packaged rice snacks market during the forecast period. APAC consumers are more familiar and likely to purchase rice-based snacks. Rice cakes, puffed rice, and crisps are long-standing staples in these cultures. The growth in demand for ready-to-eat, convenient snacks also helps drive the expanding market size in this region, with a growing middle class seeking easy and convenient snack options.
North America is expected to grow at the fastest pace in the global packaged rice snacks market during the forecast period. North American consumers are increasingly health-conscious and seeking gluten-free or low-calorie snack foods. Rice snacks fit into this trend, which has driven demand and accelerated growth in this region.
Major vendors in the global packaged rice snacks market are Bakali Foodstuffs Pty Ltd, Element Snacks Inc, Hunter Foods LLC, Kari Kari, Kellogg Co., Lundberg Family Farms, Mars Inc., Natch products and Services Pvt Ltd, PureHarvest, RACIO sro, SanoRice Holding BV, Umeya Inc., Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In May 2024, Riviana Foods launched new flavors in its Minute® Rice Cups line, including Hot Honey Chicken Seasoned Rice, Long Grain & Wild Rice with Herbs, and Sticky Rice Cups, to offer convenient and varied meal options.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the packaged rice snacks market based on the below-mentioned segments:
Global Packaged Rice Snacks Market, By Product Type
- Rice Cakes
- Rice Crisps
- Rice Puffs
- Rice Chips
- Instant Rice Snacks
Global Packaged Rice Snacks Market, By Flavor
- Salty
- Sweet
- Spicy
- Savory
- Mixed Flavors
Global Packaged Rice Snacks Market, By Packaging Type
- Bags
- Boxes
- Single-Serve Packs
- Bulk Packaging
- Eco-friendly Packaging
Global Packaged Rice Snacks Market, By Distribution Channel
- Online Retailers
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Food Stores
- Wholesale Distributors
Global Packaged Rice Snacks Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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