Rice-based Products Market Insights and Trends 2024
The global rice-based products market is on a robust growth trajectory, poised to achieve a CAGR of 7.1% during the forecast period from 2024 to 2034. In 2024, the market is anticipated to reach US$ 211.12 billion, and by 2034, it is projected to exceed a valuation of US$ 380.86 billion.
The growing preference for gluten-free, low-calorie, and nutrient-rich snacks is driving demand for rice-based products. As global health consciousness rises, more consumers are opting for wholesome, organic, and plant-based food options, including rice cakes, rice noodles, and rice-based snacks. Innovations in flavors, packaging, and production processes are revolutionizing the sector.
Key Market Trends in Rice-based Products Market
1. Rising Popularity of Rice-based Snacks
The trend of healthy snacking has catapulted the demand for rice-based snacks, especially products like rice cakes, rice crisps, and flavored rice balls. The market has seen significant demand for gluten-free and allergen-friendly snacks, further driving product development and launches.
2. Preference for Gluten-free Diets
As gluten intolerance awareness increases, consumers are turning to gluten-free rice-based products as a preferred option. Rice-based noodles, cakes, and pasta are marketed as healthier alternatives to wheat-based products.
3. E-commerce Expansion
The growth of online retail channels has significantly contributed to the increased availability and accessibility of rice-based products. Retailers are leveraging e-commerce platforms to boost visibility and sales.
4. Regional Cuisine Trends
The surge in demand for authentic Asian cuisine globally has accelerated the consumption of rice noodles, sushi rice, and rice cakes. Countries like the United States have seen a rise in demand for Chinese, Thai, and Japanese food, creating new opportunities for rice-based products.
5. Sustainable & Eco-friendly Packaging
Sustainable and biodegradable packaging is becoming a critical factor. Companies are focusing on eco-friendly packaging materials to cater to the growing environmental consciousness among consumers.
Market Segmentation in Rice-based Products Market
By Product Type
| Product | Market Share (2024) | Growth Highlights |
| Rice Noodles | 30% | Rise in demand for gluten-free alternatives. |
| Rice Cakes | Fastest CAGR (8.2%) | New flavors and healthier options gaining traction. |
| Rice Snacks | Significant growth | Increased consumption of ready-to-eat rice snacks. |
| Rice Puddings | Emerging Trend | Rise in demand for exotic desserts. |
| Rice Balls | Growing Trend | Popular as a healthy, convenient meal. |
| Others | – | Includes innovative rice-based products like rice flour-based snacks. |
Regional Insights for Rice-based Products Market
1. United States
- Market Share: North American market leader
- Growth Drivers: Rise in the popularity of Chinese, Thai, and Japanese cuisine. The demand for authentic rice noodles, sushi rice, and rice-based snacks is on the rise.
- Key Opportunity: Local production and imports to meet rising demand for ready-to-eat and instant rice meals.
2. Asia-Pacific (China, India, Japan)
- Market Share: 35% (2024)
- Growth Drivers: China is the world’s largest producer and consumer of rice-based products. The market is expanding in India and Japan due to the rising adoption of ready-to-eat rice meals.
- Key Opportunity: Increase in exports and trade partnerships with foreign distributors to meet demand in Western countries.
3. Europe (United Kingdom, Germany, France)
- Market Share: Significant contributor due to its strong hospitality sector.
- Growth Drivers: The increase in European tourism and the rise of fusion cuisine. The UK is seeing rising demand for gluten-free rice-based snacks and ready-to-eat meals.
- Key Opportunity: The rise in private-label brands and retail partnerships with supermarkets and hypermarkets.
4. Middle East & Africa
- Growth Drivers: The demand for halal-certified rice-based snacks is increasing.
- Key Opportunity: Collaboration with Middle Eastern supermarkets to introduce rice-based ready-to-eat snacks and packaged rice meals.
Key Growth Drivers in Rice-based Products Market
- Health & Wellness Focus: The growing preference for low-calorie, low-carb, and gluten-free snacks is driving demand for rice-based products.
- Growing Fast-food Outlets: Restaurants serving Chinese, Thai, and Japanese cuisine are increasing the demand for rice-based products like rice noodles and sushi rice.
- Increased Use of Rice as an Ingredient: Use of rice flour, rice starch, and other rice-based ingredients in bakery and packaged foods is fueling demand.
- Expansion of Distribution Channels: E-commerce and supermarket dominance provide direct access to rice-based snacks, noodles, and cakes for consumers worldwide.
Market Restraints for Rice-based Products Market
- High Shipping Costs: Exporting rice-based products faces shipping delays and high logistical costs.
- Lack of Awareness in Emerging Markets: Limited brand presence and consumer knowledge about rice-based snacks in some regions.
- Production Delays: Supply chain disruption due to COVID-19 lockdowns impacted production speed and shipment times.
Competition Landscape in Rice-based Products Market
| Company | Key Product Offerings |
| Lotus Foods Inc. | Rice ramen, rice pouches, rice soup cups |
| Nona Lim LLC | Rice-based ramen stir-fry kits |
| Thai President Foods | Instant rice noodle products |
| The Quaker Oats Company | Rice-based breakfast products |
| KAMEDA SEIKA CO., LTD | Rice crackers, snacks |
| Sanorice | Rice cakes and snacks |
These companies are focusing on product diversification, mergers and acquisitions, and regional expansions. Mergers with local suppliers and partnerships with retailers are key strategies to increase market reach.
Frequently Asked Questions (FAQs) for Rice-based Products Market
1. How big is the rice-based products market?
The global rice-based products market is valued at US$ 211.12 billion in 2024 and is expected to surpass US$ 380.86 billion by 2034.
2. Which is the fastest-growing product category?
The rice cakes segment is expected to register the highest CAGR of 8.2% from 2024 to 2034 due to its demand as a healthy, gluten-free alternative.
3. Who are the key players in the market?
Leading players include Lotus Foods Inc., Nona Lim LLC, Thai President Foods, The Quaker Oats Company, and KAMEDA SEIKA CO., LTD.
4. Which region dominates the rice-based products market?
Asia-Pacific (China, Japan, India) holds the largest market share at 35%, driven by high rice consumption and growing exports.
5. How is sustainability impacting this market?
The shift toward biodegradable packaging and the use of organic, non-GMO rice is shaping the future of rice-based products.
Contact Us
Take action now! Gain deeper insights into the rice-based products market. Our advisory experts can help you understand the competition, industry drivers, and market forecasts. Contact us today to access the full report and propel your business forward.