Rice snacks are rice-based snacks which include varieties such as rice cakes, crispy rice, and rice crackers. Manufacturers use heat, pressure, and crushing processes to convert rice grains into snack rice of various varieties. With the change in lifestyles and consumer preferences, the fastfood segment has grown over the years. Rice snacks are often considered a healthy snack option given their nutritional benefits.
There is growing number of convenient meal replacement snack options in the food industry. This has affected the snack industry given its strong sales growth in recent years. The growth in demand for healthy snacks has forced food manufacturers to provide consumers with high nutritional value snacks. Manufacturers are focused on choosing good quality and certified ingredients. With manufacturers offering snacks having low sugar and low salt options, there are many target markets and due to all these factors, the rice snacks market is growing day by day.
COVID-19 Impact Analysis
- There is an increasing demand for healthy food during the COVID-19 pandemic as consumers are more conscious of their health and taste both. This has resulted in a positive growth in the demand for protein powder during a wide section of consumers.
- Change in lifestyle has changed the diet pattern, which includes more healthy snacks and nutritional products that help in boosting the rice snacks market globally. Increase in demand for rice snacks has benefitted the food industry.The new and exciting flavors offered by the manufacturers appeal to consumers. Increase in health conscious consumers and healthy snack trends are expected to drive the rice based snack market.
- During this coronavirus pandemic, it is very crucial for every individual to intake a proper balanced food and proper healthy snacks. Ricks snacks are healthy and provide the simplest blend of taste, texture, & flavors in meals. Hence, due to all these factors, the rice snacks market has gained a surge in food industry during COVID-19.
Top Impacting Factors
Many consumers face various health problems that prevent them from consuming different food products. One of these problems is high blood pressure which is common among consumers. With manufacturers offering low-salt snacks, these problems have been resolved.
Growing health problems among consumers are contributing to the development of healthy food products. Changing consumer preference for healthy eating habits is contributing to the growth of the rice based snacks market across different regions. As, consumers love to eat those snacks which helps them in maintaining their busy lifestyles and work culture.
Rice is a source of energy and fiber that improves digestion and strengthens immunity. Manufacturers of organic rice-based snacks appeal tohealth-conscious consumers to consume less than 5 grams of salt per day. As it reduces blood pressure and the riskof cardiovascular disease, stroke and heart attack.
Rising Demand for Healthy and Tasty Snacks
- In today’s world, the younger generation is consistently gaining interest in those foods which are rich in nutrients and taste better than diet food. So, the concept of healthy food is comparatively facing a gradual increase in its awareness and availability, and due to this food industry especially Rice Snacks Market has witnessed a high rate of growth.
- Over the past of few years, there has been an increase in number of health-conscious customers across the world. Individuals are involvedin adopting a healthy and a lively lifestyle, which has increased the demand for health-oriented food products. Thus, this snacks acts as an equivalent supplement of the meals for the youngsters. Healthy lifestyle is becoming a traditional way of life that majorly has concerns over obesity, food sensitivity, and other people suffering from diseases still rise.
- Hence, with the rise in health and wellness awareness among the population, the demand for healthy food has increased substantially. Therefore, the demand for rice snacks has increased, which has further added to the demand in the Food industry within various regions.
Surge in the Market of Convenience Food
- The growing health consciousness has led people to consume a diet filled with nutrients, and that too with convenience. Thus, the marketplace for ready meals are anticipated to grow within the years to return. Consumers within some regions are more focused on easy and quick meals than other heavy meals. Thus, the rise in adoption of changing lifestyle and healthy eating has led the market to grow moderately. Similarly, there has been a gentle increase in consumption and production of various convenience products, including rice snacks, and it is anticipated that the multi-decade trend of growth will continue within the near future. The success of technology is boosting these market too. As, these are easily manufactured and supplied. Thus, the revenue has stabilized with the expansion in demand, which successively, has aided the market growth.
Key Benefits of the Report
- This study presents the analytical depiction of the rice snacks industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the rice snacks market share.
- The current market is quantitatively analyzed to highlight the rice snacks market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed rice snacks market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the rice snacks Report
- Who are the leading market players active in the rice snacks market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "rice snacks" market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "rice snacks" market?
Rice Snacks Market Report Highlights
By Distribution Channel
Key Market Players
General Mills Inc, Topco Associates, Lundberg Family Farms, Element Snacks Inc., Umeya Co., PepsiCo Inc., Kellogg Co., Ricegrowers Ltd, Sanorice, Blue Diamond Growers