Rice Snacks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Rice Snacks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Rice Snacks market is projected to register a CAGR of 7.5% during the forecast period, 2022-2027.

Growing consumer health awareness supports the production of nutritious food products. The market for rice-based snacks is expanding in many regions due to changing customer preferences for healthier eating habits. Customers can maintain their hectic lifestyles and work cultures as customers prefer consuming rice-based snacks. Manufacturers prioritize selecting certified, high-quality ingredients. There are numerous target markets for the producers of low-sugar and low-sodium snacks, and as a result of all these factors, the rice snack market is expanding constantly.

The high production of rice grains in Asian nations like China and India, which account for over 40% of the global market, is among the highest. Rice snacks are eaten as breakfast in countries like India. Chivda is the most popular rice snack in India. Rice snacks are consumed among babies and toddlers for better nourishment. The fast-paced lifestyle, the technological improvement and a shift in customer preferences toward healthy snacks, and expanding urbanization in these nations are driving the growth of the rice snack market.

Key Market TrendsIncreasing Consumer Awareness of the Health Advantages of Rice Snacks products.

The significant trend propelling the market growth for rice snacks is the growing health benefits of rice food products. The wider populace is becoming more health conscious. As a result, the demand for healthy snacks produced with top-notch ingredients is growing. In response to the market, vendors have introduced a range of snacks produced with natural components like rice, which is rich in nutrients. As a result of rising consumer demand for nutritious snacks, the global rice snack market is rapidly growing. Consumers who have digestion-related issues mostly consume rice snack products because rice snacks' high fiber content aids in lowering inflammation, enhancing digestive health, and increasing metabolism. Consumers with diabetes that eat brown rice snacks can help control their blood sugar levels. Moreover, consumers with celiac disorders also prefer rice snacks as they are all gluten-free and thus having access to such nutritious rice snacks is projected to boost market expansion during the forecast period. Rice snacks, regarded as mood stabilizers, can enhance physical and mental health. All these factors highly contribute to the expansion of the rice snacks market.

The Asia Pacific Holds Significant Share in Rice Snacks Market

The rising demand from rice-eating nations like China, Indonesia, Japan, and India, among others, is mainly accountable for the expansion of the rice snacks market in the Asia Pacific region. With an increased demand for rice snacks among the working class people in the Asia Pacific region, the market is anticipated to grow throughout the forecast period. There has been a gentle rise in the consumption and production of convenience foods, such as rice snacks, throughout the Asia Pacific region, and it is expected that this multi-decade trend of expansion would continue gradually. These markets are also being benefited from technology's success. To boost business profits, different retailers in the Asia Pacific sell several varieties of rice snacks under their private-label brands, which is assisting the expansion of the rice snacks industry in the region. Prices for private-label goods are lower compared to branded products. Price-conscious customers thus are more likely to buy such rice snack products. People purchase rice snacks more frequently, whether they are at work, driving, or in a public venue. The consumption of rice snacks has increased in most of the Asia-Pacific region's nations as a result of this fundamental shift in consumer behavior.

Competitive Landscape

The Global Rice Snacks Market is competitive. The major players in the rice market are Pepsico Inc, The Kellogg Company, Element Snacks Inc, General Mills Inc, and Kameda Seika Co. Ltd. The market players for rice snacks are concentrating on innovating their products to draw in more customers and provide a distinctive product portfolio. As consumer tastes and preferences change, rice snack manufacturers adapt their offerings. The local companies and startups provide their rice snack product in the local retail channels and on the go. Companies are concentrating on granting certifications. For instance, Pintola offers nutritious ingredients from a factory that is ISO 22000 Certified and FSSAI Approved.

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