The global rice-based products market was valued at USD 14.9 billion in 2022 and is expected to grow at a CAGR of 4.2% from 2023 to 2030. The expansion of the market is driven by the increasing demand for convenient and easy-to-cook food products. Rice-based products offer a variety of options such as convenience, nutrition, and affordability. Furthermore, the rising penetration of the product across the globe has led to an increase in the availability of various rice-based products.

The rising health consciousness among consumers has shifted their focus to healthier and nutritious food products. Rice-based products are rich in essential nutrients, vitamins, and minerals, which are beneficial for health. This is encouraging consumers to opt for rice-based products over other unhealthy food products. Moreover, the increasing demand for packaged and processed food is also contributing to market growth.

Furthermore, the trend of veganism is gaining popularity worldwide, as people are becoming more conscious of the health benefits of vegan food products. This is resulting in an increase in the demand for vegan rice-based products, including vegan noodles and vegan rice cakes. Additionally, the rising demand for organic food products is further fuelling the growth of the market. This is attributed to the increasing awareness regarding the benefits of organic food products, such as the absence of harmful pesticides and chemicals.

Moreover, the growing preference for gluten-free food is also driving the demand for rice-based products. Rice-based products are gluten-free, which is why they are gaining popularity among health-conscious consumers. The increasing demand for convenience food products is also propelling the market growth. The emergence of ready-to-eat and ready-to-cook products is further driving the growth of the market. Additionally, the rising disposable income of consumers is contributing to the growth of the market.

Furthermore, the increasing demand for rice-based products from the foodservice industry is also driving the market. The foodservice industry is increasingly using rice-based products in various dishes, such as rice cakes, bibimbap, and sushi. This is creating lucrative opportunities for the growth of the market.

The rice-based products segment is anticipated to witness the fastest growth during the forecast period. Increasing demand for rice-based products from the food and beverage industry, coupled with rising health consciousness among consumers, is driving the growth of the segment. Rice-based products are gluten-free and have a low glycemic index, which makes them suitable for people with food allergies and diabetes. According to an article published by the University of California, Davis in October 2019, rice-based products are increasingly being used in the food and beverage industry, due to their numerous health benefits.

Furthermore, the increasing focus of manufacturers on the development of innovative products is expected to benefit the segment’s growth. For instance, in December 2020, Nestle launched Nesquik rice-based beverages in the US, which are made with real cocoa and are free from artificial flavors, sweeteners, and colors. Such new product launches are expected to further drive the segment’s growth over the forecast period.

The supermarkets and hypermarkets segment captured the major share of over 43.2% in 2022. This is attributed to the presence of a wide variety of rice-based products offered by these stores. Moreover, these stores are easily accessible and provide several discounts to attract customers. Additionally, supermarkets and hypermarkets offer a wide range of brands and products, which help customers make quick purchasing decisions.

The convenience stores segment is expected to expand at a CAGR of 7.2% over the forecast period. The rising number of convenience stores, particularly in urban areas, is expected to drive the segment growth. Moreover, convenience stores not only provide packaged food products but also offer ready-to-eat food products at reasonable prices. This is expected to boost the segment growth.

The online channel is expected to expand at a rapid pace over the forecast period. The increasing use of the internet and the rising number of online stores is expected to drive the segment growth. Moreover, online stores offer a wide variety of products at discounted prices, which is further expected to attract consumers. Additionally, companies are launching their own mobile applications and websites to increase their brand visibility and reach to potential customers.

The whole grain segment accounted for the largest revenue share of 45.3% in the year 2022. The increasing demand for healthy, natural, and unprocessed food sources is driving the growth of the segment. The increasing awareness among consumers about the health benefits associated with whole grain products is increasing their preference for whole grain products, such as brown and wild rice. Furthermore, the increasing popularity of organic and gluten-free products is also contributing to the growth of the segment.

The processed segment is projected to expand at the highest CAGR of 8.2% over the forecast period. The convenience of usage and availability of various products such as instant rice, flavoured rice, and dumplings are some of the major driving factors of the segment. The rising demand for ready-to-eat meals and convenience foods is also contributing to the growth of the segment. Furthermore, innovative packaging and convenience foods, such as microwaveable pouches and single-serve packaging, are expected to boost the market in the forecasted period.

Asia Pacific dominated the market and accounted for the largest revenue share of over 52.3% in 2022. This is attributed to the increasing demand for convenience food, health consciousness, and rising disposable income in the region. Additionally, the presence of a large population base and the presence of major manufacturers such as Ajinomoto Co., Ltd., have further contributed to the growth of the market in the region. For example, in October 2021, Ajinomoto Co., Ltd., expanded its product portfolio with the launch of a new range of ready-to-eat rice-based products.

Europe is expected to witness the second-fastest growth in the coming years, largely due to the increasing number of health-conscious consumers and their preference for ready-to-eat convenience food. Additionally, the presence of major manufacturers, such as Nestlé, in the region is further expected to drive the growth of the market in the region. For instance, in October 2021, Nestlé launched a new range of rice-based products in the UK.

In this part of the rice-based products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your rice-based products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a rice-based products business comes from the sale of rice-based products such as rice cakes, rice breads, rice noodles, and other rice-based items. Other possible sources of profit include bulk sales of rice, catering and delivery services, and the sale of merchandise related to the business.

Projecting Expenses
In this section, all the regular expenses related to keeping the rice-based products business running will be described. The list of operating expenses includes ingredients, labour costs, rent, utilities, insurance policies, advertising, and other related costs.

Some of the key companies operating in the rice-based products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, Uncle Ben’s launched a new range of rice-based products, including microwavable rice bowls, ready-to-eat rice cakes, and rice-based snacks.

– In June 2022, Kraft Heinz announced the launch of its new range of microwaveable rice-based meals, which are designed to be ready in minutes.

– In July 2022, Kellogg’s launched a range of rice-based meal kits, designed to be convenient and nutritious.

Some of the prominent players in the rice-based products market include:

– Uncle Ben’s
– Kraft Heinz
– Kellogg’s
– Nestlé
– Mars Inc.
– ConAgra Foods
– B&G Foods
– General Mills
– Kikkoman Corporation
– Ajinomoto Co., Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global rice-based products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Rice Flour
– Rice Bran
– Rice Protein
– Rice Starch
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Non-Organic
– Organic

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Rice-based Products?
[A]: Rice-based products offer a wide range of health benefits, from providing a low-calorie, nutrient-dense food source to helping reduce the risk of cardiovascular disease and diabetes. Furthermore, rice-based products are a great source of dietary fiber, vitamins, minerals, and phytochemicals, which can help support overall health and wellness. Rice-based products are also a great source of plant-based proteins, which is becoming increasingly popular due to its health benefits and sustainability.

[Q]: Who are the Key Players in the Rice-based Products Market?
[A]: The key players in the rice-based products market include PepsiCo Inc., Nestlé SA, General Mills Inc., Kellogg Co., and Dr.Oetker.

[Q]: Which Region Offers the Largest Opportunity for Sales of Rice-based Products?
[A]: Asia-Pacific is expected to be the largest market in terms of both value and volume, due to the increasing demand for rice-based products in this region.

[Q]: What are the factors driving the rice-based products market?
[A]: Key factors driving the rice-based products market include the increasing demand for healthy and convenient food options, the rise of veganism, and the growing popularity of plant-based proteins. Additionally, the rise in health awareness, the increasing preference for organic, and the increasing investment by major players in the industry are driving the market growth.