Global Rice Cakes Market – Industry Trends and Forecast to 2030

Rice Cakes Market Analysis and Size

The market for healthy snacks has grown dramatically in recent years, particularly since the global pandemic. Customer’s desire for nutritious yet delectable products has grown as they have become more health-conscious. Furthermore, the evolving product supply chain is propelling market growth. Major supermarket chains are now collaborating with third-party online delivery companies to expand their operations to include e-commerce channels.

Data Bridge Market Research analyses that the rice cakes market was valued at USD 34.84 billion in 2022 and is expected to reach the value of USD 55.2 billion by 2030, at a CAGR of 6.5% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Rice Cakes Market Scope and Segmentation

Market Definition

Many people consider rice cakes to be a staple food. They are made with finely ground white or brown rice. Rice is steamed before being combined with other ingredients to form the desired cake shape. Rice cakes come in various flavours, including wholemeal varieties that include fibre-rich bran, and corn varieties that are made primarily of maize flour. Buckwheat versions are made from buckwheat grain, which has additional health benefits, whereas others are flavoured with fruits such as strawberry, banana, or vanilla, among others.

Rice Cakes Market Dynamics

Drivers

• Growing Demand for on-the-go Snack Consumption

The rise in on-the-go snack consumption is driving the positive growth of the global rice cakes market. Global demand for rice cakes is expected to be driven by rising consumer awareness of the health risks associated with junk food consumption, such as heart disease, diabetes, and other chronic diseases. One of the key trends in the global rice cakes market is an increase in customer preference for healthy eating habits and a healthy lifestyle. Rice cakes are becoming more popular in people's diets around the world, propelling the global rice cakes market forward.

• Increasing Per Capita Earnings of Customers, Modernization and a Wider Base of Employed People

Increasing customer per capita earnings as a result of modernization and a larger labour force is one of the most important stimulants for market development. People in their mid-thirties to mid-forties are spending more money on rice cakes. Increasing funds for developing inventive class offerings, as well as the inventiveness begun by major corporations for product branding, are expected to give the market a boost.

Consumer fitness awareness is expected to inspire demand for rice cakes in the coming years as a result of alertness movements promoted by companies, governments, and non-governmental organisations.

Opportunity

• Increased Snack Consumption

The increased snack consumption presents a substantial opportunity for the global rice cakes market, driven by a growing customer base seeking convenient, nutritious, and diverse snacking options. Rice cakes, known for their portability and health-conscious appeal, align with the convenience and health trends in snacking. As consumers prioritize taste and nutrition, manufacturers can seize the opportunity by offering a variety of flavors and premium options, potentially expanding into new global markets and leveraging online sales channels to reach a wider audience. This shift in consumer behavior opens doors for the rice cakes market to thrive in a changing snack landscape

Restraint/Challenge

• High Glycemic Index and Health Risks

The association between high glycemic index and potential health risks, such as diabetes and cardiovascular disease, may pose a restraint on the global cakes market. Consumer’s increasing awareness of the health implications of high-GI foods could lead to a shift in preferences towards lower-GI or healthier cake alternatives, impacting the market's product demand and requiring adaptation in product offerings and marketing strategies by cake manufacturers.

This rice cakes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the rice cakes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In May 2022, SanoRice Group announced a EU€30 30 million investment to meet fast growing worldwide demand for popped rice, corn, and multi-grain cakes
• In 2020, Kellogg Company introduced a new rice snack named Rice Krispies Treats HOMESTYLE with marshmallows, in original and chocolate flavor

Global Rice Cakes Market Scope

The rice cakes market is segmented on the basis of product type, flavour type, raw material, distribution channel and packaging type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Mochi
• Puffed Rice Cakes
• Others

 Flavour Type

• Chocolate
• Apple Cinnamon
• Chicken
• Caramel
• Others

Raw Material

• White Rice
• Brown Rice

Packaging Type

• Stick packs
• Snack-Sized Portion Bags
• Pillow Pouches
• Others

Distribution Channel

• Modern Trade
• Specialty Stores
• Convenience Store
• Online Stores
• Other Retail Stores

Rice Cakes Market Regional Analysis/Insights

The rice cakes market is analysed and market size insights and trends are provided by product type, flavour type, raw material, distribution channel and packaging type as referenced above.

The countries covered in the rice cakes market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

North America is dominating market for rice cakes. Customer’s changing habits, such as snacking between fixed mealtimes or snacking in place of meals, as well as a preference for healthier alternatives, are expected to boost demand for the product in the area.

Asia-Pacific is expected to grow during forecast period of 2023 to 2030. Modernization and the growing need for snacking options in developing countries such as India and China are driving up demand for the product in the province.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Rice Cakes Market Share Analysis

The rice cakes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to rice cakes market.

Some of the major players operating in the rice cakes market are:

• ITC Limited (India)
• Kambly SA (Switzerland)
• Mondelez International (U.S.)
• PepsiCo (U.S.)
• The Kraft Heinz Company (U.S.)
• Annie's Homegrown, Inc. (U.S.)
• Parle Products Pvt. Ltd. (India)
• Patanjali Ayurved (India)
• Britannia (India)
• Kellogg Co (U.S.)
• pladis global (U.K.)
• Walkers Shortbread Ltd (U.K.)
• Lotus Bakeries NV (Belgium)
• Nestle SA (Switzerland)
• Burton’s Foods Ltd. (U.K.)

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