Global Rice Noodles Market - 2023-2030

Global Rice Noodles Market - 2023-2030

The Global Rice Noodles Market reached US$ 4.1 billion in 2022 and is expected to reach US$ 11.3 billion by 2030 and is expected to grow with a CAGR of 13.5% during the forecast period 2023-2030. A prominent trend in the rice noodles market is the rising demand for plant-based and vegan options in the rice noodles market. For instance, the introduction of vegan rice noodle bowls featuring plant-based protein alternatives like tofu and tempeh, catering to the growing number of consumers adopting plant-based diets.

The rice noodles market is experiencing steady growth globally, driven by factors such as changing consumer dietary preferences and the rising popularity of Asian cuisines. With a wide range of applications, rice noodles are versatile and can be used in various dishes, including stir-fries, soups, salads, and more. The market is characterized by the presence of both regional and international players, offering a diverse range of products to cater to different consumer preferences.

One of the other major drivers in the rice noodles market is the increasing consumer preference for convenient and ready-to-eat meals drives the rice noodles market. For instance, the launch of microwaveable rice noodle cups with pre-cooked noodles and flavor packets, catering to busy individuals seeking quick and hassle-free meal options.

Market Dynamics

Convenience and Time-Efficiency Drive the Growth of the Rice Noodles Market

The rice noodles market trend is driven by the busy and fast-paced lifestyles of modern consumers. Rice noodles offer convenience and time efficiency in meal preparation, making them a popular choice for quick and easy cooking. Unlike traditional noodles that require longer cooking times, rice noodles can be cooked in a matter of minutes, saving valuable time for busy individuals.

Moreover, the versatility of rice noodles allows them to be easily incorporated into a variety of dishes, catering to different tastes and preferences. As consumers seek convenient meal solutions without compromising on taste and quality, the demand for rice noodles is on the rise, driving market growth.

Increasing Interest in Ethnic Cuisines and Food Exploration Fuels Rice Noodles Market

The growing interest in ethnic cuisines and culinary exploration is fueling the expansion of the rice noodles market. Consumers are increasingly seeking new and exciting flavors, and rice noodles offer a gateway to explore diverse Asian cuisines. As individuals become more adventurous in their food choices and open to trying different dishes from around the world, the demand for rice noodles as a key ingredient in Asian-inspired meals is surging.

The availability of authentic recipes, cooking shows, and social media platforms showcasing various rice noodle dishes has piqued consumers' curiosity and stimulated their interest in incorporating rice noodles into their culinary repertoire. This driver is driven by the desire for cultural exploration and the enjoyment of unique and exotic flavors, driving the growth of the rice noodles market.

Rising Cost of Raw Materials Impacts the Rice Noodles Market

One significant restraint faced by the rice noodles market is the rising cost of raw materials. The prices of key ingredients used in rice noodle production, such as rice flour and additional additives, have been experiencing fluctuations and upward trends. Factors such as changes in agricultural practices, climate conditions, and global supply and demand dynamics can impact the availability and cost of these raw materials.

The increased costs of raw materials can squeeze profit margins for rice noodle manufacturers, making it challenging to maintain competitive pricing without compromising on quality. This restraint may require industry players to explore alternative sourcing strategies, improve supply chain efficiencies, or consider product innovation to mitigate the impact of rising raw material costs and maintain a sustainable position in the market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global rice noodles market has been segmented by type, product, distribution channel, end-user, and region.

Brown Rice Noodles Segment Gain Market Share with Health-Beneficial Ingredients and Nutritional Superiority

The global rice noodles market has been segmented by type into white rice noodles and brown rice noodles.

The basic ingredients used to develop rice-based noodles include flour and water, along with additional ingredients i.e. salt, and oil to improve the quality of the final product. Rice flour is made from both brown rice and white rice, Brown rice noodles typically have an impressive market share, accounting for around 32% of the overall rice noodles market size. Brown rice variety had the highest protein concentration (8.16%) and lowest fat concentration (0.07%) and it has a low amylose concentration (3.36%).

The proximate composition (moisture, ash, protein, crude fiber) of rice noodles is also affected by rice bran. The moisture level increases with the increase of bran in rice noodles. However, a higher level of bran in rice noodles improved the protein and fat concentrations. Intermediate amylose rice flour was used to develop soft texture noodles. Ordinary milled rice grains lack certain components, while brown rice contains germ and bran also, which provide certain health-beneficial ingredients like vitamins, gamma amino butyric acid, and dietary fibers.

Geographical Analysis

North America Emerges as the Fastest-Growing Region in the Rice Noodles Market

By region, the global rice noodles market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The rice noodles market in North America is experiencing remarkable growth, driven by increasing consumer demand for diverse and convenient food options. The rice noodles market size in North America has witnessed significant expansion, with rising awareness about Asian cuisines and the growing popularity of gluten-free and healthier alternatives. As consumers seek out versatile meal options, the rice noodles market share in North America is expanding rapidly.

The region's multiculturalism and evolving food preferences have contributed to the increasing adoption of rice noodles in various culinary applications. With its expanding market size and growing market share, North America has emerged as a key player in the global rice noodles market. Furthermore, the proliferation of Asian restaurants and the influence of Asian cuisine in North America have also contributed to the rising demand for rice noodles, further fueling the market's growth in the region.

Competitive Landscape

The major global players in the market include Annie Chun's, Inc., JFC International Inc., Lotus Foods Inc., McCormick & Company, Inc., Nasoya Foods USA, LLC, Natural Earth Products, Inc., Nona Lim, LLC, Nongshim Co., Ltd., Roland Foods, LLC., and Thai President Foods Public Company Ltd.

Why Purchase the Report?
• To visualize the global rice noodles market segmentation based on type, product, distribution channel, end-user, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of rice noodles market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global rice noodles market report would provide approximately 69 tables, 67 figures, and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies