Global Rice Snacks Market Size Was Valued $197.9 Billion in 2022 and Is Poised to Reach Around $322.3 Billion by 2030, Growing with CAGR of 6.3% | Food Industry Analysis

Tucson, AZ, April 07, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Rice Snacks Market By Product (Rice Cakes, Rice Crisps, Rice Chips, Others), By Distribution Channel (Offline, Online) By Region– Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030” in its research database.

“According to the latest research study, the demand of global Rice Snacks Market size & share in terms of revenue was valued at USD 197.9 billion in 2022 and it is expected to surpass around USD 322.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.3% during the forecast period 2023 to 2030.”

What are Rice Snacks? How big is the Rice Snacks Industry?

Report Overview:

The global rice snacks market size was valued at USD 197.9 Billion in 2022 and is expected to reach USD 322.3 Billion by 2030, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period.

Rice snacks have gained popularity in recent years as a healthy and convenient snack option. These snacks are typically made from rice and come in a variety of flavors and forms, including chips, crackers, and puffs. They are often gluten-free, vegan, and low in fat and calories, making them an attractive choice for health-conscious consumers. Rice snacks are not only a healthier alternative to traditional snacks like potato chips and crackers but are also a good source of carbohydrates and dietary fiber. They are also easy to carry and store, making them a convenient snack option for people on the go.

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Global Rice Snacks Market: Growth Factors

The market for rice snacks is 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.

However, the market for rice snacks also faces some restraints, such as the availability of alternative snack options and the presence of some established players in the market. Additionally, fluctuations in the prices of raw materials, packaging costs, and other factors can affect the overall profitability of the market.

Despite these challenges, there are several opportunities for growth in the global rice snacks market. For instance, manufacturers can focus on developing innovative flavors and ingredients to cater to changing consumer preferences. They can also invest in marketing campaigns to increase awareness of the health benefits of rice snacks and target new demographics. Moreover, strategic partnerships and collaborations with other players in the market can also help drive growth and profitability.

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Report Scope

Rice Snacks Market: Segmentation Analysis

The global rice snacks market is segmented based on product, 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.

Based on region, the Asia-Pacific region held the largest market share in 2022 and is further predicted to grow rapidly at a significant CAGR during the forecast period. The Asia Pacific region is the largest market for rice snacks and has been witnessing significant growth in recent years. The region’s growing population, urbanization, and increasing disposable incomes are driving the growth of the market. Additionally, the region’s changing consumer preferences and the growing demand for healthy and convenient snack options are also contributing to the market’s growth.

The global Rice Snacks market is segmented as follows:

By Product

• Rice Cakes
• Rice Crisps
• Rice Chips

By Distribution Channel

Browse the full “Rice Snacks Market By Product (Rice Cakes, Rice Crisps, Rice Chips, Others), By Distribution Channel (Offline, Online) By Region– Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts, 2023-2030”– Report at https://www.zionmarketresearch.com/report/rice-snacks-market

Competitive Landscape

Some of the main competitors dominating the global 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.
• Umeya Inc.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Rice Snacks market is likely to expand at a CAGR of around 6.3% during the forecast period (2023-2030).                                            
• In terms of revenue, the Rice Snacks market size was valued at around US$ 197.9 billion in 2022 and is projected to reach US$ 322.3 billion by 2030.
• Based on product, the rice cakes segment is predicted to cite the fastest CAGR of 7.3% during the forecast period.
• Based on distribution channel, the offline segment held the dominating market share in 2022 and is further projected to grow at a notable CAGR during the forecast period.
• Based on region, the Asia-Pacific region held the largest market share in 2022 and is further predicted to grow remarkably at a significant CAGR during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Rice Snacks industry?
• What are the main driving factors propelling the Rice Snacks Market forward?
• What are the leading companies in the Rice Snacks Industry?
• What segments does the Rice Snacks Market cover?
• How can I receive a free copy of the Rice Snacks Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product, By Distribution Channel, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The rice snacks market in the Asia Pacific is highly diverse and includes several varieties such as rice crackers, rice cakes, rice chips, and rice puffs. Consumers in the region have shown a preference for healthier snacking options, and rice snacks have emerged as a popular choice due to their low-fat and low-calorie content. Manufacturers in the region are capitalizing on this trend by introducing a wide range of innovative flavors and varieties to cater to changing consumer preferences.

Additionally, the growing popularity of e-commerce platforms is also contributing to the growth of the market by providing consumers with a convenient and hassle-free shopping experience. Overall, the Asia-Pacific rice snacks market is expected to continue to grow in the coming years, driven by factors such as the increasing popularity of healthy snacking options, the availability of a wide range of flavors and varieties, and the growing preference for offline retail channels.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In January 2022, Kameda Seika, a Japanese snack company, announced plans to expand its operations in Southeast Asia. The company aims to increase its presence in the region by launching new products and expanding its distribution network. Kameda Seika is known for its rice crackers, which are popular in Japan and other parts of Asia.
• In December 2021, Calbee, a Japanese snack company, announced a collaboration with PEZY, a tech startup, to develop new technologies for the food and agriculture industries. The collaboration aims to create new rice varieties that can be used in the production of rice snacks.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/rice-snacks-market

FREQUENTLY ASKED QUESTIONS

• What are rice snacks?
• At what CAGR, the global rice snacks market will expand during forecast years?
• What will be the market value of global rice snacks market by the end of 2030?
• What are the factors driving the global rice snacks market growth?
• Which region will contribute notably towards the rice snacks market value?
• Who are the leading players in global rice snacks market?

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