New York, December 10, 2021/PRNewswire/-Technavio has added the "Packaged Rice Snacks Market by Product and Geography-Forecast and Analysis 2021-2025" report to Technavio's products. With ISO 9001:2015 certification, Technavio is proud to have worked with more than 100 Fortune 500 companies for more than 16 years.
According to Technavio's latest market outlook report, the potential growth difference of the packaged rice snack market between 2020 and 2025 is US$4.16 billion. The report also pointed out that during the forecast period, the market will witness an accelerated growth momentum at a compound annual growth rate of %.
To get the exact annual growth difference and YOY growth rate, please consult our analysts.
The health benefits provided by packaged rice snacks and the increasing number of product launches are some of the key market drivers. However, factors such as product recalls will challenge market growth. Due to its high nutritional value and healthy eating habits, rice snacks, as one of the healthiest snacks, are becoming more and more popular among health-conscious consumers. Packaged rice snacks made from brown rice have significant health benefits because whole grains provide fiber, photochemicals, and carbohydrates. In addition, these snacks also contain iron, magnesium, zinc and complex carbohydrates for energy, as well as antioxidant phytochemicals for healthy cells. These health benefits provided by packaged rice snacks have mainly driven their adoption and may accelerate their sales in the coming years. In addition, other factors, including the launch of new marketing campaigns and the health benefits provided by packaged rice snacks, are also expected to actively drive market growth during the forecast period.
Frequent product recalls are one of the key factors that may limit market growth during the forecast period. Recalls usually damage the supplier’s brand reputation and consumer acceptance of the product. The presence of allergens and ingredients not listed by the regulatory authorities is one of the reasons for the recall of packaged rice snacks. Product recalls in the packaged rice snack market may cause consumers to switch to other types of snacks. This may hinder the potential growth of the market during the forecast period. In addition, factors including the availability of other snack options and the increasing demand for rice snacks prepared by households and catering services will also become limiting factors hindering market growth during the forecast period.
Learn about other key drivers, trends and challenges available to Technavio. Read our free sample report!
The packaged rice snacks market report is segmented by product (rice cakes, RCCB, and rice chips) and geography (Asia Pacific, North America, Europe, South America, and MEA). The market segment of rice cake products will lead the market share in 2020. As brown rice cakes, white rice cakes, red rice cakes and black rice cakes become more and more popular, this market segment will continue to dominate the market during the forecast period. In addition, more and more suppliers focusing on launching innovative organic rice cake varieties will also contribute to the growth of this market segment during the forecast period.
Geographically, the Asia-Pacific region is the largest revenue-generating region for the packaged rice market in 2020. Due to the growing consumer preference for rice food, the region will continue to account for 84% of the market growth. Japan, China, India, and South Korea (Republic of Korea) are the main markets for packaged rice snacks in the Asia-Pacific region. Market growth in the Asia-Pacific region will be faster than market growth in other regions.
Check out our sample report to learn more about the contribution of all market segments and regional opportunities in the report.
The packaged rice snack market is fragmented, and suppliers are deploying growth strategies, such as launching new varieties, expanding production capacity, and launching marketing activities to participate in market competition. The company is establishing partnerships to gain a competitive advantage over other market participants. For example, in July 2021, PepsiCo announced a partnership with United Way to launch Tidy Trails, a special plan for plastic waste management to commemorate World Environment Day. Some other companies and their marketing strategies mentioned in the report are:
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China's Packaged Rice Snacks Market by Product and Distribution Channel-Forecast and Analysis for 2021-2025
U.S. Packaged Rice Snacks Market by Product and Distribution Channel-Forecast and Analysis 2021-2025
Packaged rice noodle market by product, end user and geography-forecast and analysis for 2020-2024
Rice snack market scope
Accelerate at a compound annual growth rate of approximately 5.66%
Asia Pacific, North America, Europe, South America and MEA
Japan, China, the United States, India and South Korea (Republic of Korea)
Leading company, competitive strategy, scope of consumer participation
Element Snacks Inc., Hunter Foods LLC, KAMEDA SEIKA CO. LTD., Kellogg Co., Lundberg Family Farms, Mars Inc., PepsiCo Inc., Ricegrowers Ltd., SanoRice Holding BV, and Tastemorr Snacks-A Division of Basic Grain Products
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, and market conditions during the forecast period.
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
About Us Technavio is the world's leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and formulate effective strategies to optimize their market position. Technavio's report library has more than 500 professional analysts, and its client base includes companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive coverage, extensive research, and actionable market insight to identify opportunities in existing and potential markets, and evaluate their competitive position in changing market scenarios.
Contact Technavio Research Jesse Maida Media and Marketing Director United States: +1 844 364 1100 United Kingdom: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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