Rice cakes market was valued at USD 33.3 billion in 2021 and is expected to reach the value of USD 53.08 billion by 2029, at a CAGR of 6.00% during the forecast period of 2022-2029.
During the global pandemic and in particular since those years, the market for nutritious snacks has increased significantly. The demand from consumers for wholesome yet delicious items has increased as they have become more health conscious. Additionally, market expansion is being fueled by the dynamic product supply chain. To expand their operations to incorporate e-commerce platforms, major grocery chains are now working with independent online delivery businesses.
Rice cakes are regarded as a staple dish by many people. Finely ground white or brown rice is used to make them. Before being combined with additional components to create the appropriate cake shape, rice is cooked. Rice cakes are available in a variety of flavours, including whole-wheat types that contain bran, a source of fibre, and corn varieties, which are predominantly made of maize flour. While other variants are flavoured with fruits like strawberry, banana, or vanilla, among others, buckwheat versions are manufactured with buckwheat grain, which offers added health benefits.
Consumption of on-the-go snacks is increasing.
The positive expansion of the rice cake market worldwide is being driven by the increase in the consumption of on-the-go snacks. Rising consumer awareness of the health dangers associated with junk food intake, such as heart disease, diabetes, and other chronic diseases, is anticipated to fuel the global market for rice cakes. An increase in consumer inclination for good eating practises and a healthy lifestyle is one of the major trends in the global rice cake market. The worldwide rice cakes market is expanding as more individuals throughout the world include rice cakes in their diets.
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increasing customer per capita earnings, modernization, and a larger pool of employees
One of the most significant drivers of market expansion is the rise in customer per capita income brought on by industrialization and a larger labour force. Spending on rice cakes has increased among people in their mid-thirties to mid-forties. The market is anticipated to benefit from increased funding for creating creative class offerings and the innovation started by large firms for product branding.
As a result of alertness campaigns supported by businesses, governments, and non-governmental organisations, it is anticipated that consumer fitness awareness will fuel demand for rice cakes in the upcoming years.
Opportunity
As client personal conduct standards change, rice cakes could replace certain suppers. The definition of snacks is evolving as empowered consumers look for delicious, nutritional, and affordable food alternatives to fuel their busy lifestyles. The desire for mobility and convenience is driving the invention and variety of new, healthier snacks, and consumption is rising as a result. Allowing the use of potent and hot flavours, as well as remarkable fixes, to appeal to worldwide palates and promote growth in regional economic sectors, is a restraint. Convenience is another factor driving ready-to-eat snack sales online, with healthy snack options ranking as one of the top food categories bought online.
Market Segmentation
Global Puffed Rice Cake Market: Major Players
Tastemorr Snacks
Element Snacks
Quaker Oats Company
Lundberg
Global Puffed Rice Cake Market: By Types
Flavored
Non-Flavored
Global Puffed Rice Cake Market: By Applications
Bakery Industry
Snack Industry
Global Puffed Rice Cake Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Puffed Rice Cake market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Objectives of the Study:
• To provide with an exhaustive analysis on the Market by Product, By Application, By End User and by Region.
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
