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The packaged rice snacks market share is expected to increase by USD 4.53 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.32%.
This packaged rice snacks market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers packaged rice snacks market segmentation by product (rice cakes, RCCB, and rice crisps) and geography (APAC, North America, Europe, South America, and MEA). The packaged rice snacks market report also offers information on several market vendors, including Bakali Foodstuffs Pty Ltd, Element Snacks Inc, HNA Food Pvt Ltd, Hunter Foods LLC, Kari Kari, Kellogg Co., Lundberg Family Farms, Mars Inc., Natch products, and services Pvt ltd, NUHEALTH, PepsiCo Inc., PureHarvest, RACIO SRO, Ricegrowers Ltd., Riso Gallo SpA, SanoRice Holding BV, SSOM International Foods, Umeya Inc., Vital Health Foods, and Wide Faith Foods Co Ltd among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The health benefits offered by packaged rice snacks are notably driving the packaged rice snacks market growth, although factors such as product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the packaged rice snacks industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Packaged Rice Snacks Market Driver
The health benefits offered by packaged rice snacks are one of the major drivers impacting the packaged rice snacks market growth. Rice is considered to be a significant energy source as it contains a high amount of whole grain. Moreover, with the rising awareness about food nutritive value and healthy eating practices, rice snacks are proven to be one of the healthiest snack variants. Packaged rice snacks made from brown rice have significant health benefits as the whole grains provide fiber, photochemical, and carbohydrates. These snacks also contain iron, magnesium, zinc, and complex carbs for energy and antioxidant phytochemicals for healthy cells. Moreover, food products containing brown rice help in reducing the risk of chronic diseases and certain cancer conditions. Hence, the health benefits offered by rice products will increase sales of packaged rice snacks, contributing to the packaged rice snacks market growth.
Key Packaged Rice Snacks Market Trend
Plant-based diets is one of the major trends influencing the packaged rice snacks market growth. Plant-based diets are gaining popularity owing to the growing health and food safety concerns associated with animal-based food products. Plant-based diets are healthy as it provides necessary nutrients such as beneficial plant compounds, vitamins A, C, and E, fiber, and antioxidants. The focus on animal welfare, health issues associated with meat consumption, increased focus on weight management, and concerns regarding antibiotic testing on animals have facilitated the shift to plant-based diets across the world, which is one of the key packaged rice snacks market trends.
Key Packaged Rice Snacks Market Challenge
Product recalls is one of the major challenges impeding the packaged rice snacks market growth. Food regulatory bodies and compliance authorities can shut down businesses or recall packaged rice snacks that pose a threat to the well-being of consumers. Recalls can tarnish the brand reputation of vendors and the acceptance of products among consumers. The presence of allergens and ingredients, which are not listed by the regulatory authorities, is one of the reasons for the recalls of packaged rice snacks. Product recalls in the packaged rice snacks market may lead consumers to shift to other types of snacks. This may hamper the potential growth of the market during the forecast period.
This packaged rice snacks market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global packaged rice snacks market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the packaged rice snacks market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the packaged rice snacks market encompasses successful business strategies deployed by the key vendors. The packaged rice snacks market is fragmented and the vendors are deploying growth strategies such as launching new variants, expanding their production capacity, and launching marketing campaigns to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The packaged rice snacks market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the packaged rice snacks market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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84% of the market's growth will originate from APAC during the forecast period. Japan, China, India, and South Korea (Republic of Korea) are the key markets for packaged rice snacks in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The growing consumer inclination toward rice-based food products will facilitate the packaged rice snacks market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The packaged rice snacks market share growth in the rice cakes segment will be significant during the forecast period. Brown rice cake, white rice cake, red rice cake, and black rice cake are some types of rice cakes available in the market. The increasing number of new product launches and the emergence of organic varieties of rice cakes can accelerate the growth momentum of the market focus during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the packaged rice snacks market size and actionable market insights on post COVID-19 impact on each segment.
Packaged Rice Snacks Market Scope |
|
Report Coverage |
Details |
Page number |
133 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market growth 2022-2026 |
$ 4.53 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.24 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 84% |
Key consumer countries |
US, Japan, China, South Korea, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Bakali Foodstuffs Pty Ltd, Element Snacks Inc, HNA Food Pvt Ltd, Hunter Foods LLC, Kari Kari, Kellogg Co., Lundberg Family Farms, Mars Inc., Natch products and services pvt ltd, NUHEALTH, PepsiCo Inc., PureHarvest, RACIO sro, Ricegrowers Ltd., Riso Gallo SpA, SanoRice Holding BV, SSOM International Foods, Umeya Inc., Vital Health Foods, and Wide Faith Foods Co Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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