Rice Flour Market to Touch USD 1090.7 Million by 2030, Attaining a CAGR Of 7.5 % Between 2020 and 2030 – Report by Market Research Future (MRFR)
Rice Flour Market Research Report: Information by Source (White Rice and Brown Rice), Category (Organic and Conventional), Application (Bakery & Confectionary,…
Rice Flour Market Research Report: Information by Source (White Rice and Brown Rice), Category (Organic and Conventional), Application (Bakery & Confectionary, Breakfast Solutions, Baby Food, Sweet & Savoury Snacks and Others) Region (North America, Europe, Asia-Pacific, RoW) — Global Forecast till 2030
New York, US, April 10, 2023 (GLOBE NEWSWIRE) -- Rice Flour Market overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Rice Flour Market Research Report: Information by Source, Category, Application Region — Global Forecast till 2030, wherein the market is likely to register a notable 7.5% CAGR and acquire a substantial market value of USD 1090.7 Million over the forecast period.
Rice kernels are ground into a fine or coarse powder to create rice flour. Since wheat flour includes gluten, rice flour is frequently used as a wheat flour alternative. In addition, rice flour is used as a thickening agent in soups, sauces, and gravies. Choline is present in rice flour and is necessary for maintaining essential membrane components. Rice flour is used to make rice noodles, desserts, and bakery goods.
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|Market Size in 2030||2030: USD 1090.7 Million|
|CAGR||7.5% CAGR (2022-2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Category, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Raising awareness about health, wellness, and fitness|
- The major market players are:
- Associated British Foods PLC (UK)
- Ebro Foods, S.A. (Spain)
- Ingredion Incorporated (US)
- Archer-Daniels Midland Co. (US)
- Wilmar International Limited (Singapore)
- Bunge Ltd. (US)
- Whitworth Bros. Ltd. (UK)
- The Soufflet Group (France)
- Shipton Mill Ltd. (UK)
- KRÖNER-STÄRKE GmbH (Germany)
- Belourthe SA (Belgium)
- Bressmer & Francke (GmbH & Co.) KG (Germany)
- EDME Food Ingredients Limited (UK)
Due to its ability to be gluten-free, the market for rice flour has been expanding. Manufacturers are replacing products high in gluten with rice flour as a result of rising rates of celiac disease and gluten-free diet adoption. Also, the health advantages of rice flour have caught the interest of consumers who are concerned with their diets. Also, as the consumer base grows every day and people adopt healthier, better, easy-to-cook, and ready-to-eat meals to fit their busy schedules, baked goods and snack foods are getting more and more popular. As a result, it is projected that white rice flour producers will soon capitalize on major development opportunities.
Growing consumer awareness of nutrient-dense meals and increased disposable income are driving the growth of the rice flour market. Rice contains ferulic acid, para aminobenzoic acid, and allantoin. Body sunscreen is made from para-aminobenzoic acid. In skin care products, rice flour is also used as a toner and skin brightener. A growth in the consumption of vegan and gluten-free cuisine is also fueling demand. Customers have switched to gluten-free diets because there is no specific treatment for celiac disease available. The demand for natural rice flour is anticipated to increase throughout the projected period as more individuals choose non-gluten food products.
The increased demand for organic foods and beverages is anticipated to be fueled in part by government support and growing environmental and animal welfare concerns. Natural fertilizers, fungicides, herbicides, and other common substances are typically used in natural farming, which can increase the effectiveness of the land and the quality of harvests. Natural production does not involve the use of pesticides, harmful synthetic compounds, composts, or false things. Since people are becoming more aware of the negative consequences of pesticides used in standard farming practices, people have started using organic rice flour. Since that organic rice is more expensive than inorganic rice, natural production is becoming more advantageous for ranchers. Over the next ten years, it is anticipated that the development of natural cultivating methods and growing environmental concerns would create profitable prospects for new companies.
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One of the main challenges to the development of the worldwide rice flour industry is the unpredictable nature of grain prices brought on by climate change, which is expected to significantly restrain market growth. Seasonal fluctuations and climate variability have a substantial impact on plants, which affect agricultural yields in different places and cause variances in production costs and prices. Prices for agriculture are also impacted by the price variations in energy, chemicals, and fertilizers. The market is restricted by the usage of substitute products like wheat flour and the inability to grow rice due to the climate. In contrast, because of improvements in packaging and enhanced distribution channels, the market for rice flour has a lot of room for expansion.
The market for rice flour is anticipated to be significantly impacted by the Russia-Ukraine conflict and the post-Covid-19 pandemic. Due to supply chain interruptions brought on by the pandemic and geopolitical concerns, the market is likely to slow down. Also, as consumers turn to less expensive alternatives, the economic effects of the pandemic will probably result in a decline in the demand for rice flour. The COVID-19 pandemic continues to alter how diverse businesses develop, although its immediate effects are not all the same. While some industries will see a decline in demand, many others will continue to be unaffected and offer bright prospects for expansion. The supply chain for rice flour has seen significant changes as a result of the COVID-19 epidemic, and consumer behavior is changing as well. To be competitive, business players must be more cautious and forward-thinking. The economic and social effects of COVID are known to vary greatly between different markets and nations, thus competitors in the rice flour industry are developing country-specific tactics.
the white rice segment is likely to grow at a notable CAGR over the review period.
The organic segment s likely to record the highest growth over the review period.
The Bakery & Confectionary segment is expected to record substantial growth over the review period.
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As more people choose gluten-free diets, Asia Pacific is anticipated to dominate the market for rice flour throughout the forecast period. The market for rice flour in Australia and New Zealand (ANZ) is also expected to expand fast. Rice flour is a common ingredient in Southeast Asia, Japan, and India. Growing rates of celiac disease and gluten sensitivity in Australia and Japan are a key factor in the expansion of the global market in Asia Pacific. Southeast Asian countries are known for their love of foods like egg roll wrappers, rice cake and dumplings, rice noodles, and edible rice paper. Due to rapid urbanization and a rising preference for convenience foods, there are now more fast food restaurants and quick service restaurants in these countries.
Due to a rise in demand for rice flour in baking applications, North America is also anticipated to account for a sizeable portion of the global rice flour market. The North American market is expanding mostly as a result of the US and Canada.
The main country-level markets for rice flour in the region, Germany and the UK, are expected to grow rapidly over the course of the projection period. The expansion of the rice flour market in other parts of the world is likely due to its use in a variety of recipes.
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